Trends Shaping The Market in Lebanon
What’s Currently The Main Concern for Lebanese Customers?
The SMEs market in Lebanon is experiencing a period of tumultuous evolution, partly due to the fragile socio-economic conditions and partly thanks to innovations in technology and consumer lifestyle. This presents a number of opportunities and challenges. Our ability to rise to these new challenges and take advantage of the opportunities before us will largely determine who is left to define marketing research.
In this series of blog posts, we examine the emerging industry trends – through the expertise of practicing digital marketing experts- in shaping the future of Lebanese small and medium enterprises in adopting digital technology.
Today we ask the question: “What’s currently the main concern for Lebanese customers? “
Mohammad Mortada ? LinkedIn Profile | Website
The Customers in Lebanon need solutions to their problems and they place considerable concern on trust. This is due to the lack of clear governmental policies for consumer protection. While this stands true, businesses fail to address such concerns in their promotional messages as they focus on the majority on conative messages (ie: selling or call-to-action).
Charbel Ghanime ? Linkedin Profile
There isn’t one correct answer to this question. In the past 2 years, the Lebanese market has seen a very noticeable shift in consumer mindset mainly brought on by the deteriorating economic situation. As you may have noticed, many brands reacted to this shift by introducing plenty of “bargain deals”, 5-8$ meals, $1/piece of sushi, easy installment plans and a sort of on-going sales period that has brought the Black Friday concept to Lebanon in a very noticeable way. This is a clear reflection of the main concern for Lebanese customers today: price.
Rony El Hashem ? Linkedin Profile
The main concern for Lebanese customers has been always quality and service.
Kamal Chelhot ? Linkedin Profile
Abdul Rahman Alieh ? Linkedin Profile
Lebanese customers aren’t necessarily different than customers anywhere else. When it comes to choosing one product or service over another, customers – whether consciously or subconsciously – weigh a variety of factors. These factors in my experience boil down to Need, Timing, and Cost. If your product solves a genuine problem for your customer at a specific time for the right price, then you’re on the right track for success. You can’t hone in on a single one and expect to be successful.
Stay tuned as we discover in the next series how startups in Lebanon can define their culture as narrated by our group of digital marketing experts. See you next week!
