According to a consumer survey conducted in the Middle East in 2022, 15 percent of the respondents in Saudi Arabia stated that they were willing to pay a lot more for purpose-driven products. In comparison, 44 percent of the respondents in the kingdom said that they were willing to pay only a bit more for purpose-driven products that year.
Share of consumers willing to pay more for purpose driven products in Saudi Arabia in 2022, by value type
Characteristic
Share of consumers
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Willing to pay a bit more, indicates the willingness to pay an extra up to ten percent of the current price. Meanwhile, willing to pay a lot more, corresponds to consumers' willingness to pay a premium of more than ten percent.
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McKinsey & Company. (September 7, 2022). Share of consumers willing to pay more for purpose driven products in Saudi Arabia in 2022, by value type [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1414893/saudi-arabia-willingness-to-pay-more-for-purpose-driven-products-by-value-type/
McKinsey & Company. "Share of consumers willing to pay more for purpose driven products in Saudi Arabia in 2022, by value type." Chart. September 7, 2022. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1414893/saudi-arabia-willingness-to-pay-more-for-purpose-driven-products-by-value-type/
McKinsey & Company. (2022). Share of consumers willing to pay more for purpose driven products in Saudi Arabia in 2022, by value type. Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1414893/saudi-arabia-willingness-to-pay-more-for-purpose-driven-products-by-value-type/
McKinsey & Company. "Share of Consumers Willing to Pay More for Purpose Driven Products in Saudi Arabia in 2022, by Value Type." Statista, Statista Inc., 7 Sep 2022, https://www.statista.com/statistics/1414893/saudi-arabia-willingness-to-pay-more-for-purpose-driven-products-by-value-type/
McKinsey & Company, Share of consumers willing to pay more for purpose driven products in Saudi Arabia in 2022, by value type Statista, https://www.statista.com/statistics/1414893/saudi-arabia-willingness-to-pay-more-for-purpose-driven-products-by-value-type/ (last visited August 24, 2024)
Share of consumers willing to pay more for purpose driven products in Saudi Arabia in 2022, by value type [Graph], McKinsey & Company, September 7, 2022. [Online]. Available: https://www.statista.com/statistics/1414893/saudi-arabia-willingness-to-pay-more-for-purpose-driven-products-by-value-type/