Technology and Innovation
Saudi’s Evolving Consumer Landscape and How AI Can Help
Saudi Arabia is experiencing rapid growth in retail and e-commerce, with market revenue projected to jump from $0.25 billion in 2023 to $1.52 billion, driven by evolving consumer behavior and rising digital engagement. Events like Riyadh Season and new entertainment venues have fueled trends such as increased YouTube searches for fitness, gaming, and shopping content, reflecting the "companion effect" in online activity. Amid inflation, 92% of consumers are adapting by seeking discounts, prioritizing essentials, and saving for purchases. Key shopping events, including Saudi National Day, Singles’ Day, and Black Friday, are becoming major drivers of spending, alongside Ramadan and Eid. Notably, international shopping apps like Temu and Trendyol are gaining significant traction, reshaping the market landscape.
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