Report: State of FMCG and Prospects for 2023 in UAE and KSA
Short-term survival but geared for growth
Against the backdrop of global financial flux and the substantial consumer reset of the past three years, NIQ has conducted an in-depth survey targeted at key decision makers in the manufacturing and retail sectors in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA).
This report looks through the lens of these industry leaders’ on their business challenges, concerns and perceived risks which would impact business growth, as well as their view of future growth opportunities.
Key results unveiled in this report include:
- The spectre of inflation has created unsettled, financially pressured consumers. As a result, manufacturers and retailers have ongoing concerns around value sales increases versus unit volume declines which erode real business growth.
- Retailers are particularly concerned about the prospect of FMCG consumption growing while other consumer expenditures decline, and manufacturers fear a trend toward less consumer spending in general.
- There are concerns around legislative controls in the form of price regulation, foreign trade measures, product labelling, and changes in tax legislation.
- Supply and distribution remain key concerns.
- Retail players are grappling with how to take their e-commerce offerings to the next level in the face of a firmly entrenched consumer channel that isn’t going anywhere.
- Manufacturers and retailers are looking to innovate their way around current constraints in the forms of enhanced promotional activity and with the launch of new products. For example, a high number of manufacturers are planning premium product launches.
Download this exclusive report to learn more about your peers’ business challenges, concerns, and perceived risks that would impact business growth as well as their strategies in capturing future growth opportunities.