The Rise of Saudi Arabia as a Luxury Hub: A Closer Look at Women’s Role
DUBAI: The Future Laboratory and Together Group have teamed up to delve into the emergence of Saudi Arabia as a cultural epicenter for luxury consumers, shedding light on the pivotal role of women in this expanding market.
Entitled “New Codes of Luxury in Saudi Arabia” and unveiled in February, the report offers a comprehensive analysis of key trends in the market, showcasing how the concept of luxury is evolving with a new generation of consumers who are breaking free from traditional norms and actively shaping new standards of luxury.
A significant portion of the report zooms in on women’s participation in the Saudi workforce and its impact on the luxury consumption landscape. According to the report, 88 percent of Saudi nationals believe that luxury brands should support women’s empowerment in the region through their business practices and initiatives.
The report highlights that as a result of reforms and expanded career opportunities, women’s growing economic influence in the workforce is broadening the spectrum of luxury products they are investing in – ranging from fashion to automobiles.
In an interview with Arab News, Bana El-Ajou, Brand Marketing Manager at MJS Holding, emphasized that Saudi women are now directing their spending towards the local market rather than overseas.
El-Ajou stated, “Luxury spending has always been prevalent among Saudi women. However, now we are witnessing a shift towards domestic spending due to the increased opportunities available within the country. The availability of luxury restaurants, retail outlets, and services has significantly evolved over the years.”
Working in the hospitality sector, El-Ajou pointed out that women are actively seeking lifestyle and beauty collaborations.
El-Ajou explained, “Women are particularly drawn to collaborations. Over the years, we have collaborated with renowned fashion and lifestyle brands like Armani. These collaborations and events have led to an uptick in women’s spending.”
El-Ajou also highlighted the rising popularity of Pilates as a luxury fitness trend in Saudi Arabia, attributing it to women’s increasing focus on wellness and lifestyle choices.
She remarked, “Saudi Arabia is fast becoming a hub for top-notch Pilates. Having experienced Pilates studios both abroad and in Saudi, I can attest to the superior quality of trainers and facilities here.”
Quoted in the study, Saudi fashion designer Razan Alazzouni echoed the sentiment that women now have a broader array of choices. She stated, “It’s not just about opportunities; it’s about the multitude of choices and professions available to women. This is why we are seeing more women entering the workforce.”
Alazzouni further noted, “With women taking the wheel, even automobile dealerships are tailoring their offerings to suit women’s preferences. We are witnessing a rise in smaller, sleek-looking cars that were previously not catered to the market.”