One of the key directives outlined in the guidelines mandates that delivery containers must be able to maintain the temperature of hot foods above 60℃
UAE consumer spending power remains strong despite concerns about the global macro-economic environment. This is according to research by leading management consulting firm, Kearney, exploring consumer sentiment and purchasing habits.
88% of those surveyed highlighted concerns about global market volatility and rising inflation, and 83% noted an increase in the prices of goods purchased over the last three months.
Price increases were felt most in food and beverage (85%), transport including gas prices (77%), restaurants and hotels (72%), clothing and footwear (70%) and electronics (68%). However, despite concerns and noticeable price hikes, consumers do not expect their spending to be impacted with over half (56%) planning on making a major household purchase (Dh1,000+) in the next six months.
“Overall, the country's strong economic foundation and continued favourable policy changes towards business and individuals have given consumers confidence in their purchasing power, regardless of the macro-economic environment.
UAE residents, in fact, have reported an increase in spending on non-essential items compared to 2021 (16%) reinforcing this, and we anticipate that this trend will continue into the new year,” commented Debashish Mukherjee, Partner, Kearney Middle East.
Online purchasing remains a popular channel for UAE shoppers, mainly due to the ease of purchase (66%), saving money (62%), variety (51%) and ease of delivery (48%). When it comes to shopping in brick-and-mortar stores, the importance of the in-store experience and convenience increased by 36% and 26% respectively, compared to 2021.
“During and post-pandemic, many retailers adopted an omnichannel approach to ensure that the business impact was cushioned. With online shopping also on a steady rise, retailers now more than ever need to build stronger brand connections and offer new, more engaging in-store experiences.” added Mohammed Dhedhi, Partner, Kearney Middle East.
"By closely monitoring the evolving face of retail and adapting their strategies, key stakeholders in the retail sector can capitalize on this positive, local sentiment. This will ensure that they stay relevant and engaged with consumer needs to remain competitive,” concluded Mukherjee.
One of the key directives outlined in the guidelines mandates that delivery containers must be able to maintain the temperature of hot foods above 60℃
A slight drizzle led to frustration among some car owners who found their vehicles dirty again after each wash
This is the first joint venture between the UAE's ADNOC and China National Petroleum Corporation
Spread across 800,000 square feet, the educational centre will be able to accommodate more than 5,000 students
Upon arrival, medical teams swiftly transported the patients to hospitals for immediate care
Videos show residents breaking into impromptu group songs, as restaurants are forced to turn away hundreds of customers due to limitations of space
Non-compliance will lead to extra charge of Dh 200 for each day delayed, multiplied by number of insured employees in the entity
Having little to no friends can negatively affect one’s confidence and sense of self-worth, which can result in self-doubt, a psychologist says