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Thursday, June 1, 2023

A third of UAE consumers now use their smartphones to shop at least once a week

Dubai: A third of UAE consumers use a smartphone or tablet at least once a week to purchase a product or service.

According to a senior official at Chambers Dubai, this is “above the global average for weekly online shopping”. Mohammed Ali Bin Rashed Lootah, President and CEO, Dubai Chamber of Commerce, said: “In the UAE, mobile retail sales are expected to grow at a CAGR of 15.6% during 2022-26. , reaching $4.6 billion.”

The UAE’s e-commerce market is expected to reach US$9.2 billion by 2026, while the category’s share of total retail sales is expected to reach 12.6% in the same year. Total e-commerce sales in the UAE will see significant growth in 2021, rising from US$2.6 billion in 2019 to US$4.8 billion. Changes in consumer behavior during the peak of Covid have a lot to do with increased frequency and a wider base of online buyers than before 2020. This is also the stage where digital payment methods overtake cash.

“As the world emerges from the pandemic, the UAE and Dubai find themselves at the dawn of a new era in retail, with consumer spending and behavior rising sharply,” said Lootah, who spoke at the retail summit’s opening session.

“Dubai’s economy rebounded in 2022, driven by activity in several key sectors, including retail. The economy grew by 4.6% in the first nine months of 2022 to reach AED 307 billion. At least 24.1% of this came from sales and retail. “

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