NIQ Retail Spend Barometer
UAE
UAE shoppers spent USD 3.7 billion on FMCG and Tech & Durables goods in Q3 2024
- Consumers in UAE spent USD 3.7 Billion on FMCG and Tech & Durables products in Q2 2024 and witnessed a 4.8% growth from last year
- Shoppers spent USD 2.2 billion on FMCG in Q2 2024 with a 6.4% uplift compared to the same period last year
- Shoppers spent USD 1.5 billion on Tech & Durables products in Q2 2024 with a 2.5% uplift compared to the same period last year
UAE consumers maintained robust spending patterns during the third quarter of 2024, collectively investing USD 3.7 billion in Fast-Moving Consumer Goods (FMCG), Technology, and Durable Goods, marking a 4.8% increase compared to the same period last year.
According to the latest insights from the NielsenIQ Retail Spend Barometer, powered by GfK intelligence, UAE shoppers spent USD 2.1 billion on FMCG products in Q3 2024, achieving a 6.4% increase compared to the same period last year. Tech & Durables followed suit, with sales reaching USD 1.5 billion, marking a 2.5% year-on-year growth, demonstrating the market’s continued resilience and adaptation to evolving consumer needs.
The FMCG sector showed a significant boost in growth, climbing from 3.2% in Q3 2023 to 6.4% in Q3 2024. This positive trend was also observed in Q2 2024, although Q1 saw a decline, with growth dropping from 9.4% in 2023 to 3.5% in 2024. Similarly, Tech & Durables faced a slower growth trajectory, with the rate decreasing from 7.7% in Q3 2023 to 2.5% in Q3 2024, reflecting a shift in consumer dynamics within the sector.
“In Q3 2024, we’ve witnessed sustained growth in UAE’s retail landscape, with strong consumer spending driven by targeted promotions and increased demand in both FMCG and tech sectors. The growth of new communities is fueling convenience retail, while online grocery shopping is reshaping the landscape, especially among younger and busy professionals. This digital evolution demonstrates the market’s appetite to adapt and thrive in response to changing consumer preferences.”
David Cantatore , NIQ Retail Lead, Middle East