Women spend massive sums on cosmetics in Saudi Arabia

Updated 11 February 2016

Women spend massive sums on cosmetics in Saudi Arabia

ABHA: Saudi women spend more on cosmetics compared to women in the West, the Arab world and even in the Gulf, economic studies show.
Recent statistics issued by the Saudi Customs suggest the amount of imported cosmetics in the past year exceeded SR2.3 billion.
Saudi Customs spokesperson Issa Al-Issa said: “The weight of imported cosmetics amounted to approximately 44.6 million kg.”
According to one magazine, the cosmetics market is estimated at SR60 billion. While predicting an 11 percent annual growth for the sector, the magazine estimated cosmetic surgery clinics in Saudi Arabia will increase 10 times over the next five years.
It also predicted a 26 percent increase in skin care products.
The report said that the Middle East’s share of cosmetics amounts to 20 percent of the total global market, with Saudi Arabia at the top for Middle Eastern countries.
Besides perfume, hair-care products are showing an increasing importance in Saudi Arabia and other Gulf states.
The report stated that the future of cosmetics is driven by the growing demand for these products, 12 percent internationally and 15 percent in the Gulf.
Dr. Salim Bajajah, director of administrative and financial sciences faculty at the University of Taif, said that the Saudi market was the largest in the Middle East and people prefer to buy luxury products.
He explained that the cosmetics industry develops constantly and companies release new products onto the market.
He added that women on average spend SR15,000 annually on beauty, personal care, cosmetics, skin care, fragrance, and hair care which amounts to a large part of the family budget.
Financially-independent women spend 70-80 percent of their salary on cosmetics. “This has a major negative affect on the Saudi economy and its impact will become greater if we consider measures to include non-extravagant polices in the current budget,” Bajajah explained.
Some reports indicate that Saudi imports of cosmetics are in excess of SR1.88 billion which is due to population growth, which increases demand.
Beauty expert Rabab Al-Zahrani said that her job required her to use products personally before recommending them to customers. “I spend SR10,000 on cosmetics per week, especially if I buy on the international market. Saudi woman are very careful about their skin because of the weather here,” she said.
Businesswoman Madawi Al-Hasoon said the Gulf region spent astounding amounts in the cosmetics sector. “Saudi Arabia is the leader in spending on cosmetics; the annual average is about SR400,000 with 11,000 salons in the Kingdom. Saudi women spend more than other Gulf women on beauty products,” she said.
Housewife Sarah Mohammad said that she goes shopping two-three times a week to “buy beauty products that I learn about on social media. My average exceeds SR8,000 per month.”

TheFace: Aghareed Abduljawad, supply chain director at Globe Group

Updated 5 min 6 sec ago

TheFace: Aghareed Abduljawad, supply chain director at Globe Group

  • Aghareed Abduljawad is also the finance director at Abduljawad Holding Co.

It is a great honor for me to be featured in this space, not only to be representing the young women of society but also to be able to share my personal background story.

I am privileged to have been brought up in a home where both my parents did not discriminate between genders but rather promoted equality and equal opportunity and education among me and my siblings.

This shaped me into becoming the eager, persistent, determined, and some would even say competitive, person that I am.

My father has always been a role model for me in business. A well-rounded global engineer by education, a successful businessman by virtue, but more importantly he is my father.

He taught me always to remain strong, fearless, and brave but gave me all the opportunities to be successful by earning it rather than receiving it. This somehow constitutes the core of our business values at Globe Group.

Similar to every family business, boardroom discussions always somehow find themselves at the center of the dinner table, but this is where we can count on my wonderful mother to intervene.

As a graduate in English literature, she brings the arts and cultural side to our family which is always a nice break when we’re constantly thinking of how to grow a successful third-generation business. She is the motivation behind the enhancement of my language skills (truly capturing Arabic, French and English languages) and the hobbies we enjoy (such as playing the piano).

I graduated with a bachelor’s degree in finance from Prince Mohammad bin Fahd University in 2014 and currently hold the position of supply chain director at Globe Group, as well as finance director at Abduljawad Holding Co.

Abduljawad Holding is the investment arm of our business conglomerate, Globe Group. Globe is one of the most established logistics and transportation companies in the region and was founded by my late grandfather Fareed Abduljawad in 1976.

My journey at Globe started very early in my teens, when I enjoyed spending time with my father at the office and learning the trade. I realized with age that no matter how much corporate governance we tried to follow in the company, our code of ethics was very similar to values we were taught at home.

Nothing is given to you on a plate; you need to work hard and earn every merit. Globe is a company that was here before I was born, and we want to ensure it is around for the next generation, stronger and more successful than ever.

Because of our family nature, we tend also to treat our employees as family and end up being one big family running an operation. This goes back to how I was brought up with my siblings; we are much stronger as a team than as one.

Who do I aspire to be? An established, global and successful businesswoman leading the family name and business for the next generation to come, hopefully one day as the CFO.