Survey reveals how Saudi millennials spend money

The study reinforces that millennials in Saudi Arabia are embracing online and mobile-first platforms for shopping.
Updated 31 March 2019

Survey reveals how Saudi millennials spend money

A new study released on Tuesday explores how millennials in the Kingdom think about and value money, as well as how they spend their income.
The research — commissioned by Snapchat in partnership with business intelligence firm Cassandra — comes at a time when millennials (those aged between 18-34 years) have more than $3 trillion of disposable income globally, with their spending power predicted to grow to 33 percent of all consumer spending over the next decade. Around 27 percent of the Saudi population are millennials.
Overall, the study reinforces that millennials in Saudi Arabia are embracing online and mobile-first platforms for shopping. Mobile shopping is popular, with 85 percent saying that they use their smartphones for shopping either the same amount or more than they did last year.
“Understanding millennials in Saudi Arabia is crucial as their economic power will only grow as they age up,” said Julie Caironi, senior measurement lead at Snapchat. “As this Cashing-In study shows, millennial attitudes and preferences are different to other generations, especially when it comes to online behavior and digital spending habits.”
Aside from where they are shopping, the study also explores how millennials are spending. Half of the respondents (53 percent) say that they stick to a budget, with price being the top consideration for them when buying anything, followed by quality and then the availability of discounts or coupons. Moreover, nearly two in three millennials (63 percent) would be willing to postpone a purchase decision to make sure they get the best price on a product or service.


Clinical trials to accelerate adoption of new drug treatments in Saudi Arabia

Updated 27 May 2020

Clinical trials to accelerate adoption of new drug treatments in Saudi Arabia

  • Trials are being led locally as an essential means to verify the safety and effectiveness of a new drug
  • Eli Lilly has a major role to play during the coronavirus disease (COVID-19) pandemic

RIYADH: Clinical trials in Saudi Arabia could speed up the adoption of new drugs locally, a pharmaceutical executive has told Arab News.

“Clinical trials have two very big benefits for the Kingdom. Firstly, they provide data in the long run with respect to safety and efficacy, catered specifically to the Saudi population. Secondly, they impact local investment and build healthcare capabilities,” Managing Director of Eli Lilly Dimitri Livadas said..

Lividas further explained that the clinical trial phase of any new treatment is crucial as it represents the stage between the adoption or rejection of a drug. Working with the Ministry of Health and with a presence in the Kingdom for 42 years, the pharmaceutical company began research trials in the country in 2016, consisting of five pre-marketing activities and three monitoring studies for post-marketing.

Lividas added that the trials are being led locally as an essential means to verify the safety and effectiveness of a new drug before it is put to the market and introduced to patients. The majority of these are focused on diabetes, oncology, immunology, and osteoporosis.

“We genuinely believe that our future is here in Saudi Arabia. We continue to make great progress in having a commercial organization in the Kingdom that is fully staffed by Saudi nationals,” said Lividas.

As a biopharmaceutical company, Eli Lilly has a major role to play during the coronavirus disease (COVID-19) pandemic. It recently announced partnership with AbCellera to develop a treatment for the virus and aims to enter into clinical trials this year.

“I salute the Saudi authorities for their strong measures to contain the spread of COVID-19. I think it is an example to the world on how to do this. I would like to also express my gratitude toward all healthcare professionals who are currently on the frontlines, risking their own health to help others," Lividas said.