Saudi shoppers are ‘extremely’ digitally savvy, says fashion guru

Saudi shoppers are ‘extremely’ digitally savvy, Anita Balchandani, Partner at McKinsey & Company and a fashion guru, told Argaam in an exclusive interview on the sidelines of the Retail Leaders Circle Summit MENA Region (RLC MENA) in Riyadh.

She further explained that they always seek to discover products on social media or share them with their digital network, calling for capitalizing on the power of consumers exposed to digital channels to grow and accelerate the creation of a Saudi fashion industry.

“Fashion is a thriving $25 trillion industry globally, and it is exciting to see the focus in the Saudi Arabian market on this particular sector,” she noted.

Balchandani also highlighted that the Kingdom has a huge opportunity to learn from global brands and create new ones that are relevant for Saudi consumers.

“The region is a thriving consumer economy. It is not just because of the shape and nature of the population which has a huge proportion of young consumers and growing along nicely, but also a very attractive spend base,” she added. 

A recent report by McKinsey & Company said that the fashion market in Saudi Arabia is going through some dynamic shifts. It showed that fashion sales in the GCC markets amount to $50 billion, noting that spending in Saudi Arabia is among the highest on a per capita basis globally, reaching approximately $500.

On the role of women in the fashion industry, Balchandani said that consumers care deeply about brands that represent an inclusive value reflected by a vision of ‘empowered women’.

There is a huge opportunity for women in Saudi Arabia to found fashion businesses, create their own brands, and become leaders in this sector, she stressed.

Nevertheless, the fashion guru noted that men are also starting to engage much more with fashion and beauty.