The unprecedented challenges of 2020 made way for the untapped opportunities that lay in digital technologies. The growth in online shopping has led to the acceleration of alternative shopping habits like social commerce, which is estimated to grow to $604.5 billion by 2027, at a 31.4% compound annual growth rate (CAGR) between 2020 and 2027, according to Stock Apps.
A good number of e-commerce companies are either already selling or planning to sell via social media. 15% of these companies worldwide are already selling on social media while 25% are planning to start.
In spite of experiencing a year in which life changed seemingly overnight, people found ways to virtually connect with loved ones despite distance and lockdown restrictions; expressed themselves in new and heart-warming ways; supported their wider communities by rallying around causes they believe in; and championed small-medium businesses, protecting them in the midst of the COVID-19 crisis.
Instagram, this year has provided massive opportunities for individuals and small businesses, and doubled into an e-tail platform for a lot of businesses, especially during the lockdown. Here’s a snapshot of the major features that Instagram launched in the MENA region for brands and retailers:
“Support Small Business” Sticker
As part of their outreach to support small-medium businesses during the pandemic, they introduced the “Support Small Business”. Users can mention businesses directly in the sticker to give their followers a preview of the account. When people used the sticker, their story was added to a shared Instagram story, so their followers could see it along with other businesses that people they follow are supporting. The sticker helped businesses reach new customers and stay connected to the people they serve.
Previously only available to managed businesses, shopping on Instagram rolled out to all eligible businesses – from the biggest brands to a shop owner setting up an online store to creators and publishers like musicians, athletes, and more.
Reels and Shop Tabs
The Reels and Shop Tabs was introduced this year making it easier for the community to discover short, fun videos from creators all over the world; and giving them a better way to connect with brands and creators and discover products they love.
They expanded Guides to the region to make it easier to find, curate and share the products, places and posts users love from their favourite accounts on Instagram.
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Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon
UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness
Abu Dhabi-based supermarket chain Lulu Hypermarket is all set to open in
Plant-based meat brand Beyond Meat’s financial results for the third quarter of
UAE’s fresh produce brand Barakat has launched bio-degradable packaging across its entire
UAE-based agritech start-up Pure Harvest Smart Farms has signed a Memorandum of
Carrefour, owned and operated by Majid Al Futtaim – Retail in the
Grandiose Supermarket, part of Ghassan Aboud Group, has announced expansion plan in
The Valrhona journey began 100 years ago with a cocoa bean. Since
Deliveroo UAE has announced the expansion of its rapid grocery delivery service
The Ministry of Climate Change and Environment (MOCCAE) revealed that the UAE
In celebration of the ongoing football season Samsung is set to give
Middle East’s online baby store Mumzworld expands operations to EZDubai, a fully
UAE-based family-owned conglomerate Al Khayyat Investments (AKI) is setting the stage for
Fashion and lifestyle e-commerce player 6thStreet.com, part of Apparel Group, is one
UAE-based retail conglomerate Apparel Group has launched a global portal called the
Omnichannel eyewear retailer eyewa opened its 50th store in the GCC –
Majid Al Futtaim and First Abu Dhabi Bank (FAB) have joined hands
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The dramatic rise in e-commerce has challenged the position of traditional retailers.
Following Lenskart’s $50 million (AED185 million) investment commitment into the Middle East
Inflation in the form of skyrocketing retailer costs and increased consumer prices