Lasting Effects of COVID-19
Roughly 68% of consumers in the MENA region have indicated a shift in their consumption values. Merely 9% intend to revert to their previous spending habits.
• Aug. 31, 2023
Roughly 68% of consumers in the MENA region have indicated a shift in their consumption values. Merely 9% intend to revert to their previous spending habits. Notably, 29% of MENA consumers prioritize the well-being of their families during shopping. For businesses to secure their future consumer base, they must reassess their product offerings, digital engagement strategies, and transparency efforts.
The Moores Rowland Future Consumer Index highlights that 69% of MENA consumers anticipate significant, long-term changes in their lifestyles due to the COVID-19 pandemic. Since the pandemic's onset, 84% of consumers altered their purchasing choices, showing a stronger inclination towards value-driven purchases and locally-made items. This is particularly new for many consumer groups in the region, as 68% acknowledge personal value shifts and altered perspectives on life, signaling potential shifts in future consumption patterns.
For instance, a substantial 78% of consumers plan to adopt a more health-conscious approach, while 73% emphasize value for money. Furthermore, 67% plan to decrease non-essential spending. In contrast to the global trend, only 9% of MENA consumers intend to return to their previous spending norms, with lingering discomfort regarding pre-COVID activities. For instance, just 26% are at ease with visiting malls.
In essence, the MENA region's consumers are experiencing profound changes in their values and behaviors, driven by the pandemic. Businesses must proactively reshape their strategies to cater to these shifts and foster long-term consumer trust.
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