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Retailers could increase the loyalty of 69% of UAE shoppers if they shifted to a unified way of doing business and stopped silos, an economic research paper said.
More than half of UAE shoppers are looking for a flexible shopping journey that offers them the option to pay with their favorite method, buy online and return in-store, and buy out-of-stock items and ship directly home, says Adyen, the world’s go-to financial technology platform. leading businesses, in its report.
Adyen commissioned Opinium LLP to survey 1,000 of the world’s 36,000 UAE consumers and Censuswide to survey 500 of the world’s 12,000 UAE businessmen. The goal is to understand the recent impact on global businesses, with a particular focus on markets such as the UAE. The study also examines changes in shopper behavior in different markets and delves into the preferences of shoppers in the UAE and how retailers are currently performing. Economic modeling conducted by Cebr demonstrates how unified commerce (involving linking online and offline payments in one system) can support greater retail resilience in a demanding and competitive retail environment.
Find the best price
A vast majority of 80% of UAE consumers globally say they spend more time finding the best deals and prices, while almost a third, 30%, wait for major calendar events such as Black Friday before making a purchase. In response, 52% of merchants in the UAE believe that due to inflation, they need to offer discounts to consumers throughout the year.
Personalization and loyalty are increasingly important in the face of rising costs of living, research finds. 78% of UAE consumers want to see more discounts at retailers they shop with, and 67% say they want merchants to remember their preferences and previous purchases so browsing can be more tailored. UAE retailers are finding it hard to do this, with 58% saying it is now harder to sort customers.
Technical advantages
69% of UAE consumers say they will be more loyal to a retailer that allows them to buy online and return them in-store, and nearly two-thirds (64%) say they would be better off if a business allowed them to shop in-store Experience it and complete it online, and vice versa.
Additionally, when consumers were asked how technology made them feel while shopping in-store, the results were overwhelmingly positive. Just under half, 43%, said they were happier because they shopped faster, and just over a third, 36%, said they would visit a store more often because of technology implementation.
UAE retailers recognize the importance of connecting all sales channels. In fact, the region is familiar with unified commerce, with 50% of retailers having started investing in the strategy in the past year and 45% considering implementing it.
Unified Commerce
“We have always recognized the potential of Unified Business-to-Business and its ability to enhance the shopper experience. It is great to see that in the UAE, more than half of retailers also recognize its potential and choose to invest in it,” said Sander Maertens, Head Middle East . “While consumer behavior has changed significantly in recent years, retailers who embrace unified commerce will find it easier to navigate and adapt to these shifts.”
“Through Adyen’s financial technology platform, businesses can leverage Unified Commerce to bring together all payment data into one powerful system. This integrated approach provides valuable insights into customer behavior, enabling organizations to effectively meet their shopping expectations. In the dynamic world of retail, where speed is of the essence, proof of technology is critical to building operational resilience in an ever-changing environment.” — trade arab news agency
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