A recent survey found that people in the UAE are cutting back on fancy things and social outings. Instead, they're putting more money into staying healthy. The survey, by Toluna, showed that 35% are spending less on luxury stuff, 27% on dining out, and 34% on takeout to save money. But many are focusing more on health now. About 65% plan to take better care of themselves and 74% want more healthy food and drink options.
"UAE consumers are being careful with their money, as seen in their decreased spending on social events and fancy items,"
explained Georges Akkaoui, Middle East and Africa regional director at Toluna.
"What's interesting is the increasing focus on health and wellness. Many people in the UAE want healthier choices and clearer information from brands. This is a chance for brands to go above and beyond to meet these changing needs and build strong, lasting connections with consumers,"
he added.
Prioritising savings
The survey found that 60 percent of UAE residents anticipate better financial situations in the next three months, surpassing the global average of 37 percent. Nearly 69 percent of UAE consumers are postponing major expenses, similar to the global rate of 66 percent. In handling their finances, UAE residents are cautious: 53 percent prioritize saving money, while 42 percent prefer using cash to control their spending.
Groceries top spending list
When it comes to spending, UAE residents are increasing their budgets for groceries (56 percent) and personal care items (49 percent). However, luxury purchases are declining, reflecting changes in consumer priorities amid economic uncertainty. Despite challenges, 63 percent of UAE consumers are optimistic about their financial future. However, the report notes that high petrol prices may impact spending plans for 69 percent of UAE residents.
Many UAE residents (80 percent) are seeking more affordable options for health, wellness, and fitness. Additionally, 84 percent believe that food and beverage brands should offer healthier choices, and 82 percent think brands should provide clearer information about the health impact of their products. Moreover, 84 percent of UAE residents feel that brands should be accountable to consumers, compared to 80 percent globally. Additionally, 76 percent want to choose brands based on environmental and social factors, but feel they lack sufficient information, compared to 64 percent globally.
News Source: Khaleej Times
