Brazil8 charts on UAE's shifting consumer behaviour landscape
Global consultancy McKinsey & Company has surveyed over 500 consumers in the United Arab Emirates to gain insight into the current state of consumer sentiment, as well as trends emerging in consumer behaviour. A round-up of the report’s key findings in eight charts.
The UAE is most optimistic for economic recovery as compared to other countries. 74% believe the economy will grow to become “just as strong or stronger” compared with a global average of 30%.
UAE consumers continue to believe the personal and financial impact from Covid-19 will last longer than four more months.
UAE consumers are becoming more mindful of how they spend their money and adopting new habits to save money.
Almost all UAE consumers have adopted a new shopping behaviour, and most intend to continue with it beyond the crisis.
Consumers are paying increased attention to companies’ purpose and value while buying.
Many consumers plan to shift their shopping habits almost completely to online.
Value and convenience are the primary reason for consumers to spend and try new brands as well as new places to shop. Quality and purpose are also often cited when choosing new brands.
Delivery services and online streaming have gotten the most new and increased users since COVID-19
Commenting on the survey’s key findings, Abdellah Iftahy, a partner and leader of the consumer and retail practice at McKinsey & Company in the Middle East said: “We see that the big changes of 2020 continue to play out this year: shifting to value and essentials, flight to digital and omni-channel, and shock to loyalty.”
