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What do you get when you have an abundantly youthful population and a nation bent on digital domination? A tech revolution that sends ripples across the globe.
As part of Vision 2030, Saudi Arabia aims to become one of the most technologically advanced countries in the world. It is already the largest tech market in the Middle East and North Africa (MENA) region and has even surpassed the US on a digital regulatory maturity index, attributed to its cutting-edge digital infrastructures and stakeholder involvement. Keeping up with the digital pace is key to connecting with local consumers, 63 percent of whom are under the age of 30. According to the “New Codes of Luxury in Saudi Arabia” report, published by The Future Laboratory and Together Group, 46 percent of Saudi nationals ages 18 to 34 use predominantly digital methods for purchasing luxury goods. They are also increasingly interested in gaming, Web3, and crypto investments. Today, Saudi Arabian consumers demand convenience, innovation, and unique experiences — and new technologies are only raising their standards. How can luxury brands leverage these tools to satisfy these evolving shopping preferences? Source: Jing Daily
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