Fresh research into the habits and lifestyles of the Middle East’s most affluent residents has revealed that 77% of consumers in the UAE, Saudi Arabia and Kuwait claim feeling like they have a personal relationship with a brand is a factor in their loyalty.
The findings are from the Global Affluent Perspective, a study conducted by global market research company YouGov into the attitudes, lifestyles, values, and shopping behaviors of the world’s most affluent households across 14 countries including the UAE, Saudi Arabia and Kuwait. Respondents are interviewed about their opinions of and relationships with over 299 luxury brands across 11 sectors.
The research reveals currently brand loyalty is waning in the Middle East countries. 65% of consumers in the UAE, Saudi Arabia and Kuwait claim they find themselves less loyal to brands than in the past. 79% claim they don’t stay loyal to a brand as there is always something better coming out.
Interestingly, 81% of the wealthiest consumers from all three countries agreed that many non-luxury brands now offer a level of quality comparable to luxury brands. To that end, 71% believe quality has become a standard, and they tend to look at ‘other’ criteria when considering brands.
When it comes to distinguishing luxury, a brand with artistry (46%) and rich history (44%) stand as the most appealing factors according to the UAE, Saudi Arabia and Kuwait’s most affluent. Exclusiveness is also high on their agenda with 36% favouring limited availability.
The study found that affluent consumers in the Middle East countries are more enthusiastic about buying luxury products than their global counterparts. Three quarters of the affluent from the Middle East said they desire to buy more luxury products in the future, compared to 42% across the 12 other countries surveyed.
The results also reveal that for the majority of affluent consumers in the Middle East countries, luxury is an expression of success and that is why they buy. 82% agree luxury brands reflect a certain level of achievement, while 75% agree luxury brands communicate things about people that other brands don’t.