• Home
  • News
    • Agriculture
    • Aviation & transport
    • Arts & Entertainment
    • Business & Finance
    • Conferences & Seminars
    • Cryptocurrency
    • Economy
    • Education
    • Forex & Commodities
    • Manufacturing & Industry
    • Media
    • Oil & Energy
    • Pharma & Health
    • Politics
    • Real Estate & construction
    • Sports
    • Stock Markets
    • Telecom & Tech
    • Travel & Tourism
  • Europe
  • Middle East
  • Africa
  • Press
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
Submit PR
Search
Close
Search
Close
Home Middle East

KSA sees recovery with consumers to spend more than $2 bn online during Ramadan in 2022; RedSeer Report

admin by admin
March 31, 2022
in Middle East
Share on FacebookShare on Twitter


Content Influence on Buying Decisions during Ramadan - RedSeer
Content Influence on Buying Decisions during Ramadan – RedSeer

Consumer demand is expected to be strong on the back of limited restrictions, stronger economy, and higher enthusiasm during Ramadan. Online retail sales in KSA is expected to increase by 25% to cross $2bn during Ramadan this year accordingly to a report by Redseer in partnership with TikTok.

Riyadh – (ARAB NEWSWIRE) — Ramadan is a crucial event for retailers in KSA, with online retail sales expected to cross ~$2Bn this year or one-third of the total expected MENA sales, according to the latest report “Unwrapping Ramadan 2022 – Decoding the Upcoming Sales Extravaganza” by Redseer in partnership with TikTok.

Consumer enthusiasm for Ramadan at an all-time high

In 2020, the Ramadan period was impacted by restrictions around gatherings which muted consumer enthusiasm, especially as Ramadan is the period of heightened community interactions. This coupled with an uncertain economy resulted in low growth in 2020. However, we saw a strong rebound of growth in 2021, and 2022 promises further 25% growth on top of the spike observed in 2021.

The latest study from Redseer shows that 95% of KSA consumers are “excited” and “happy” during this Ramadan. The lack of restrictions this year coupled with stronger economic recovery has meant “pent-up” demand for community gatherings is expected to be back.

Digital Economy thrives during Ramadan

Online channels have emerged as an important driver of the KSA economy. These channels will directly contribute more than 10% of retail sales during Ramadan period. Grocery and Fashion categories are expected to see the fastest growth as consumers prepare to cook for their friends and family during this period and buy gifts.

Among the most noticeable impacts that Ramadan has on consumers is importance of newer formats such as shortform in influencing consumer’s buying decision. Akshay Jayaprakasan, Engagement Manager at RedSeer, elaborated, “Consumers want to be informed about products by relatable people in a more light-hearted and entertaining manner, which maximizes engagement and drives up conversion.”

Relevance is the new reach

Perhaps one of the most prominent themes to emerge this Ramadan is the overwhelming sense of the need for connecting with and belonging to a community. Consumers are increasingly connecting with social media influencers or creators to learn about new products.

Jochen Bischoff, Head of Business Partnerships for Consumer Brands at ByteDance, said, “A brand’s measure of success is linked to its relevance, making relevance the new reach. Relevance is amplified by creativity, emotions, and genuine consumer connections, often triggered by Creators. This paradigm shift is at the core of TikTok’s proposition.”

About RedSeer

RedSeer Strategy Consultants is a New-Age Tech-focused advisory firm serving data deficient markets of Middle East, Africa, India and South-East Asia. Our team is dedicated to providing research and analysis that guides institutions in astute decision-making and strategy formulation aimed at achieving growth.

Media Contact:
Kayan Hammoud
+971-525808750
kayan@redseer.com

###

This press release is issued through Arab Newswire (www.arabnewswire.com) – a newswire service for the Arab World, Middle East and North Africa (MENA), and it is distributed by EmailWire™ (www.emailwire.com) – the global newswire service that provides Press release distribution with guaranteed results™

 





Source link

Tags: KSA economyRamadanRamadan 2022RedSeerRiyadhSaudi ArabiaSaudi Arabia Economy
Previous Post

74% of Muslims to Celebrate Ramadan this Year as Usual and Will Spend More, Says International Survey by TGM Research

Next Post

سترى المملكة العربية السعودية انتعاشًا مع وصول إنفاق المستهلكين إلى أكثر من ملياري دولار على الإنترنت خلال شهر رمضان في عام 2022 ؛ تقرير RedSeer

RelatedPosts

Middle East

Wahyd Expands Tech-Enabled Logistics Platform to Saudi Arabia

Wahyd Group SAUDI ARABIA — (ARAB NEWSWIRE) — Wahyd Group Inc, the leading technology company has announced the...

by admin
February 1, 2023
Middle East

NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

Hajiya Nana Aisha Gambo during Outreach at Hausa Quarters in Warri Delta State ABUJA, NIGERIA – (ARAB NEWSWIRE) –...

by admin
January 26, 2023
Middle East

تحدد جمعية زوجات الضباط البحريين (NOWA) 16 من الإنجازات الرئيسية لحاجيه عائشة غامبو في عامين

Hajiya Nana Aisha Gambo during Outreach at Hausa Quarters in Warri Delta State ABUJA, NIGERIA – (ARAB NEWSWIRE) حاجيه...

by admin
January 26, 2023
Middle East

The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023

GCC Regulatory Affairs Pharma Summit A Two-day summit with 350+ professionals as attendees including regional governmental officials &...

by admin
January 20, 2023
Load More

Latest Post

Spotcovery, ambayo hutumika kama daraja kati ya Wamarekani Weusi na Waafrika, imezindua zana ya uboreshaji kwenye tovuti.

by admin
February 2, 2023

Spotcovery, intermediaire entre les Afro-Américains et les Africains, a lancé un outil d’optimisation sur le site

by admin
February 2, 2023

Wahyd Expands Tech-Enabled Logistics Platform to Saudi Arabia

by admin
February 1, 2023

Spotcovery, Which Serves as a Bridge Between African Americans and Africans, has Launched Optimization Tool on Site

by admin
February 1, 2023

Farm Foundation announces 2023 agricultural scholars

by admin
January 30, 2023

EMEAWIRE™ provides press release distribution services for businesses, organizations and other entities with the need to reach media outlets in Europe, Middle east and Africa (EMEA) Submit press release or contact us today.
Share us

Subscribe to Our Newsletter

  • Home
  • News
    • Agriculture
    • Aviation & transport
    • Arts & Entertainment
    • Business & Finance
    • Conferences & Seminars
    • Cryptocurrency
    • Economy
    • Education
    • Forex & Commodities
    • Manufacturing & Industry
    • Media
    • Oil & Energy
    • Pharma & Health
    • Politics
    • Real Estate & construction
    • Sports
    • Stock Markets
    • Telecom & Tech
    • Travel & Tourism
  • Europe
  • Middle East
  • Africa
  • Press
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
Menu
  • Home
  • News
    • Agriculture
    • Aviation & transport
    • Arts & Entertainment
    • Business & Finance
    • Conferences & Seminars
    • Cryptocurrency
    • Economy
    • Education
    • Forex & Commodities
    • Manufacturing & Industry
    • Media
    • Oil & Energy
    • Pharma & Health
    • Politics
    • Real Estate & construction
    • Sports
    • Stock Markets
    • Telecom & Tech
    • Travel & Tourism
  • Europe
  • Middle East
  • Africa
  • Press
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us

Browse by Category-

Home

Europe

Middle East

Africa

Global

News

-Agriculture

 – Arts & Entertainment

— Aviation & transport

— Business & Finance

— Conferences & Seminars
— Cryptocurrency
— Economy
— Education
— Forex & Commodities
— Manufacturing & Industry
— Media
— Oil & Energy
— Pharma & Health
— Politics
— Real Estate & construction
— Sports
— Stock Markets
— Telecom & Tech
— Travel & Tourism

About Us

-Pr Services
-Submit PR
-Contact Us

© 2023 Copyright EMEAWIRE™

Share us

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest