{"id":98403,"date":"2024-11-29T00:00:00","date_gmt":"2024-11-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/consumer-spending-remained-resilient-in-3q-2024-despite-seasonal-patterns\/"},"modified":"2024-11-29T00:00:00","modified_gmt":"2024-11-29T00:00:00","slug":"consumer-spending-remained-resilient-in-3q-2024-despite-seasonal-patterns","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/29\/consumer-spending-remained-resilient-in-3q-2024-despite-seasonal-patterns\/","title":{"rendered":"Consumer spending remained resilient in 3Q 2024 despite seasonal patterns"},"content":{"rendered":"

UAE consumers increased their spending on fast-moving consumer goods, tech, and durables by 4.8% y-o-y to USD 3.7 bn in 3Q 2024<\/strong>, according to NielsenIQ Reta<\/a>il Spend Barometer<\/a>. Fast-moving consumer goods (FMCGs) dominated spending, with a 6.4% y-o-y increase to USD 2.2 bn during the quarter. Tech and durables came in second, growing 2.5% y-o-y to USD 1.5 bn, marking slower growth from last year\u2019s 7.7% growth. <\/p>\n

The rationale:<\/strong> The performance was driven mostly by back-to-school sales, as well as an increase in demand for convenience retail due to the influx of expats, Retail Lead of NIQ Middle East David Cantatore said. <\/p>\n

On a q-o-q basis<\/strong>, the figure marks a decline from USD 3.8 bn<\/a> spent on fast-moving consumer goods (FMCGs) and tech and durables in 2Q 2024. FMCG spending saw a moderate adjustment after strong growth in the first half of the year, which is attributed to typical seasonal patterns. Meanwhile, tech and durables also saw a gradual decline q-o-q, with product launches like that of Samsung Galaxy S24 in 1Q 2024 boosting performance during that quarter. <\/p>\n

Online shopping + healthier options are growing more popular: <\/strong>Purchase trends are displaying a rising preference for healthier and sustainable products. They also show an increase in the usage of online and quickcommerce grocery shopping platforms, especially among young and busy professionals. <\/p>\n","protected":false},"excerpt":{"rendered":"

The quarterly performance was driven by the back-to-school sales and an increase in convenience retail<\/p>\n","protected":false},"author":1,"featured_media":98404,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1556],"tags":[19,7,962,1341],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam-uae","tag-fmcg","tag-tech","wpautop","entry"],"acf":{"mongo_id":"5925f420-c0c3-4c56-a2bf-18ce9bab0aa0","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/2050.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Consumer spending remained resilient in 3Q 2024 despite seasonal patterns","related_issue":[98393],"teaser":"The quarterly performance was driven by the back-to-school sales and an increase in convenience retail","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.a57e1f4c-6148-40d6-bc7a-7cee007feb6f.mp3"},"yoast_head":"\nConsumer spending remained resilient in 3Q 2024 despite seasonal patterns - 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