Majority of Dubai residents have not drastically changed their spending behaviour despite the economic downturn, said a survey.

Echo Trends, the Dubai-based independent market research arm of reputed strategy think-tank Renno Communications Group, recently sampled 400 Dubai residents with a minimum household income of Dh3,000 ($817) in a survey.

Echo Trends’ Consumer Behavior and Trends Report culled valuable data on respondents’ spending behaviour in a crisis period, and gathered detailed information on brand preferences in the automotive, shopping, media, travel, telecom, and leisure sectors.

Out of those surveyed, 58.8 per cent said they have not reduced their spending on groceries in 2009. However, 53.6 per cent said they have cut down on leisure activities related expenses as compared to 64 per cent who have not cut down on personal travel last year, reflecting a positive period for the airline sectors.

According to the survey, 22 per cent of those interviewed had primary bank accounts at HSBC among all other banks in the UAE, with Emirates NBD and Mashreq coming in second and third, with 17 per cent and 12 per cent, respectively.

“Dubai residents’ behavior and trends have not changed drastically despite the economic downturn,” said Samer Renno, chief executive officer of Renno Communications Group.

“However, the report indicates some significant changes in the positioning and repositioning of present and former market leaders in their respective fields,” he added.

Meanwhile, among car owners, Nissan was the preferred brand in the automotive sector, with 14 per cent of respondents said they own this brand. In the telecommunications sector, 84 per cent preferred Etisalat versus rival du.

Pascale Haddad, chief research analyst at Echo Trends said: “The 2009 report covers consumer trends across a wide range of economic sectors. When we compared this report with the one done six months ago, we were able to analyze interesting facts such as the positive shift in consumer spending and confidence in the economy which has improved by over 27.6 per cent.”

“Similar studies will be replicated in other countries in Mena, to compile a much larger trending report on consumers in the region.”

In the highly competitive retail and shopping market, Mall of the Emirates emerged as the strongest competitor, where 54 per cent of interviewees indicated their preference for one of the biggest shopping centres in the UAE.

“The main aim of this report is to provide a comprehensive outlook of the spending behavior of Dubai residents, and was conducted to provide decision makers a deeper understanding of Dubai consumer behavior,” Renno said.

“This report should prove as a valuable tool for companies in formulating and reviewing their marketing campaigns and sales strategies in 2010,” he concluded. – TradeArabia News Service