Saudi Arabia can expect to see a surge in online shopping during Ramadan, a new survey revealed.
Payment solutions provider Checkout.com looked at online spending intentions of consumers in the Kingdom for the holy month.
Approximately three-quarters of those surveyed (73 percent) plan to purchase products and services online more frequently this Ramadan, or at least the same amount as last year.
About a quarter (23 percent) say that they will be shopping in-person less frequently for products and services.
Merchants can expect certain demographic groups to drive more frequent online Ramadan purchases, particularly the most affluent consumers and those aged between 18-34 years of age, according to the survey.
Not only do people in Saudi Arabia anticipate making more online purchases, but they also plan to purchase a wide variety of products and services more frequently this Ramadan compared to last year. The most popular category of products is expected to be groceries, with 54 percent of respondents planning to purchase these online more frequently. That is followed by clothing (46 percent), food delivery (45 percent), and household products (40 percent).
For purchases, the most common form of payment for the majority of consumers (64 percent) is card payments and digital wallets. The survey suggested that consumer preference for digital payments is higher during Ramadan than at other times of the year (59 percent).
“With more consumers now appreciating the convenience of online purchasing and payments, there is a clear opportunity for forward-thinking businesses to do what they do better by unlocking more value in every transaction,” Mohammed Ali Yusuf, MENAP Regional Manager at Checkout.com said.
“This is particularly important during a period like Ramadan when competition amongst merchants is high, and businesses need to provide the online shopping experience that consumers are looking for,” he added.