By 2026, the UAE’s e-commerce market will be worth $9.2 billion. Online sales in the UAE hit $4.8 billion last year thanks to Covid’s e-commerce platforms. The Dubai Chamber of Commerce’s analysis projects that the UAE’s e-commerce business will be worth $9.2 billion by 2026. In the UAE, e-commerce sales increased to $4.8 billion in 2021 from $2.6 billion in 2019, as the COVID epidemic hastened the global transition to online shopping.
The research, which was based on data from Euromonitor, identified a number of variables that are promoting e-commerce in the United Arab Emirates as well as high-potential growth possibilities.
The UAE’s e-commerce is now above the global average.
Thus, according statistics, more than one-third of UAE buyers buy with discounts through Gap Uae Coupon Codes at least one smartphone each week, which is more than the typical number of transactions made online each week around the world. The tremendous growth is being supported by the loyalty reward programs provided by online retailers and the pricing transparency provided by mobile apps. With domestic online shopping sites accounting for 73 percent of total sales, local shops are luring customers in the UAE more than foreign websites.
In 2022, the UAE will have the fastest-growing e-commerce market in the world as global internet sales continue to experience a meteoric rise.
Global retail e-commerce sales were over $4.9 trillion in 2021; Statista forecasts that amount to increase by 50% over the next four decades to reach about $7.4 trillion in 2025. Statista data show that since 2021, the UAE’s e-commerce spending as a percentage of GDP has climbed by 1.10 percent. By 2022, e-commerce is predicted to represent 7.0% of all retail spending.
Potential for fashion internet shopping in the UAE
In fact, as per the Dubai Chamber’s analysis, the product categories with the greatest untapped potential in the e-commerce sector in 2022 are clothing and footwear, personal accessories, beauty and personal care, and home and gardening. The UAE’s e-commerce market is anticipated to maintain its growth momentum thanks to increased online shopping demand and consistent investment flows into the sector’s infrastructure.
According to the Dubai Chamber, the country’s growing e-commerce activity is anticipated to open up new business prospects in areas such as distribution centers, financial technology, payment systems, and electronic logistics. Users will soon be able to try things on and buy while enjoying big discounts via CouponSavings.ae, using the app after US-based visual messaging giant Snap Inc. introduced new shopping and fashion capabilities utilizing augmented reality (AR) last month. Online fashion retailer Namshi, owned by the world’s largest real estate developer, Emaar, was set to be purchased by e-commerce platform Noon earlier this year for $335.2 million.
Foreign e-commerce companies are anticipated to develop faster and reach a 34 percent market share by 2026, according to the survey.
An important element that has increased demand and commercial activity in the UAE’s e-commerce sector has been recognized as improved payment systems and services. Electronics now account for 34% of all online sales, ahead of apparel and footwear (31%), food and beverages (13%), and media products (8%), owing to customer preference for devices (8%).