Independent, optimistic, and in a hurry: the new Saudi consumer: Reinstatement of Coverage

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Independent, optimistic, and in a hurry: the new Saudi consumer: Reinstatement of Coverage

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Saudi Arabia Consumer

Independent, optimistic, and in a hurry: the

new Saudi consumer

Reinstatement of Coverage

A modernizing, atomizing society 02 July 2026

Saudi citizens are young, economically empowered, and increasingly independent in how Equity

they live their personal lives and, concomitantly, what shopping decisions they make. Saudi Arabia

Saudi households are on average 1 person smaller, and have 1 fewer baby, than 5 and 10 Consumer Products

years ago respectively. Housing stock, particularly in Riyadh, is not yet suited to these Mohsen Ameeri >>

demographic changes, and as such increased housing cost is pressuring consumer wallet. Research Analyst

Merrill Lynch KSA Company

Growing wallet shifting to experiential +966mohsen.ameeri@bofa.com112 993 741

Despite flat wages and housing cost pressure, Saudi consumer spending has grown at an Michael Jacks, CFA >>

8.6% CAGR in nominal terms, and 10.9% in real terms. Buoyed by social reforms and an ResearchMerrill LynchAnalyst(South Africa)

exciting national vision that 93% of the population believes in, Saudi Arabia’s young +27 113 055 158 michael.jacks@bofa.com

population are eager to get out and enjoy themselves—dining more away from home vs.

Jameel Bakhsh, CFA >>

at-home and getting better quality for the same price in electronics and apparel. Research Analyst

Merrill Lynch (DIFC)

Convenience and speed winning +971jameel.bakhsh@bofa.com4 425 8252

Across all categories, spending patterns have evolved to more, smaller transactions.

Saudi consumers spend 101 SAR, or 57%, less with each card-tap, mobile-tap, or click

than they did 6 years ago.