Dubai: New research into the habits and lifestyles of the Middle East’s most affluent residents has revealed that 77 per cent of consumers in the UAE, Saudi Arabia and Kuwait claim feeling like they have a personal relationship with a brand is a factor in their loyalty.
The findings are from the Global Affluent Perspective, a study conducted by global market research company YouGov into the attitudes, lifestyles, values, and shopping behaviors of the world’s most affluent households across 14 countries including the UAE, Saudi Arabia and Kuwait. Respondents are interviewed about their opinions of and relationships with over 299 luxury brands across 11 sectors.
The research showed that brand loyalty is waning in the Middle East countries, with 65 per cent of consumers in the UAE, Saudi Arabia and Kuwait admitting they find themselves less loyal to brands than in the past. Nearly eight in ten (79 per cent) claim they no longer stick to a brand as there is always something better coming out.
A higher number (81 per cent) of the wealthiest consumers from all three countries agreed that many non-luxury brands now offer a level of quality comparable to luxury brands. To that end, 71 per cent believe quality has become a standard, and they tend to look at ‘other’ criteria when considering brands.
The study, however, found that affluent consumers in the Middle East countries are more enthusiastic about buying luxury products than their global counterparts. Three quarters of the affluent from the Middle East said they desire to buy more luxury products in the future, compared to 42 per cent across the 12 other countries surveyed.
The results also reveal that for the majority of affluent consumers in the Middle East countries, luxury is an expression of success and that is why they buy.
