reflecting on an unusual ramadan ksa · 2020-05-18 · consumers are spending less this ramadan as...
TRANSCRIPT
CG Ramadan/COVID-19 Research [All Arabs]
POWERED BY CG RESEARCH
REFLECTING ON ANUNUSUAL RAMADAN
KSA
FINANCES MATTER
Despite the positive sentiments that consumers voiced, there is a growing concern about their finances
“I have a positive outlook for the future”
85%
“I am happy to have more time to spend
with my family”
82%
“I am confident that the economy will become stronger”
79%
“I feel it is crucial to prioritize
needs vs. wants”
88%
“I am only buying the essentials nowadays”
88%
“I tend to cut expenses by shopping less”
66%
Optimistic At peace Calm Worried
People are trying to maintain a positive attitude towards the situation despite all the challenges
PREVAILING POSITIVITY
Most missed partaking in the usual Ramadan Rituals/ Activities
Praying Taraweeh in mosques
Visiting mosques for prayers
Visiting families and relatives
Inviting people over for Iftar / Suhur
Going out after Iftar
Sharing food
Planning for Eid vacation
70%
62%
47%
34%
26%
20%
18%
APPAREL, SHOES& ACCESSORIES
GIFTS FURNITURE &HOME APPLIANCES
47% 41% 20%
Ramadan is strongly perceived to be di�erent this year
80%
and filled with many challenges
77%
AS A RESULT OF UNCERTAINTY, CONSUMERS IN SAUDI SEEM TO BE SHOPPING MORE CAUTIOUSLY THIS RAMADAN
7/10 consumers are spending less this Ramadan
as compared to previous years
58%
LUXURY ITEMS
This Ramadan, purchases revolve mainly around what is needed. Consumers have cut down spending to zero on:
They reported to spend less on products that aren't essential[Bottom 2 Box: Significantly decreased/ Somewhat decreased spends]
LUXURY ITEMS
24%
62%
CARS
PEOPLE ARE STILL RELUCTANT TO GO BACK TO ‘NORMAL’
“I am still not comfortable leaving the house”
“I go out whenever I get the chance to”
“I only go out for necessities”
36%
59%
5%
REMAINING CAUTIOUS Depicting a scenario where the economy has reopened
and lockdown in the country has eased before Eid
Going to shopping centers and malls
Shopping in physical stores
Ordering food delivery
Visiting public places
Travelling within the country
Going to Iftar at someone’s place
Inviting people over for Iftar
Buying luxury items
Having Iftar in restaurants/ Ramadan tents
Travelling abroad for Eid
45%
47%
56%
67%
65%
67%
72%
75%
84%
83% 11%
11%
18%
21%
25%
26%
27%
31%
45%
47% 8%
8%
12%
7%
10%
8%
7%
6%
5%
7%
I will resume it normallyI may resume it gradually with high precaution measures
I will still avoid it fully until the virus is fully contained
MORE CLOTHES, TOYS AND JEWELRY TO BE CONSIDERED AS EID GIFTS
CHOCOLATE TOYS/ GAMES FOR CHILDREN
CASH
49%
32%29% 29%
38%
53%
JEWELRY(GOLD)
GIFT CARDS (OFFLINE)
LUXURY ITEMS
10%15%
7% 6% 8%7%
Under this same scenario, consumers are willing to spend more on:
16%
APPAREL, SHOES & ACCESSORIES
11%
GIFTS
[an increase of 13%] [an increase of 7%]
CLOTHES
41%45%
GIFT CARDS (ONLINE)
8% 6%
[Top 2 Box: Significantly increased/ Somewhat increased spends]
If the situation remains as is If the lockdown is lifted