A new white paper published by the Chalhoub Group finds the Middle East to be a market of contrasts
A white paper published by the Chalhoub Group about the luxury market in the Middle East has detailed the strong diversity that exists within the region. “A deep understanding of the region is a prerequisite of success,” said the company, which specialises in the retail and distribution of luxury brands in the beauty, fashion and gifting sectors.
In general, people living in the Gulf Co-operation Council (GCC) which comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, are high spenders, laying out, for instance, an average of $1,300 every month on clothing and accessories.
In Dubai, a nation that focuses strongly on tourism, the nationals are indulgent, while those in Abu Dhabi in the UAE view luxury as being the privilege of certain social classes, according to the report.
Kuwait, like Saudi Arabia, is oriented chiefly towards the local market, but its nationals are assertive consumers, with 92% of those questioned saying they would choose a brand simply because they liked it. Although social media is widely used across the region, only 26% of GCC nationals shop online.