Football season, Black Friday to offer an $8.4-bn boost to online retail in MENA

November 16, 2022 | By RetailME Bureau

UAE e-commerce market to touch $9.2-bn by 2026

The upcoming football tournament in the region will provide a boost to the festive retail season, with a predicted peak gross merchandise value of $8.4 billion for online retail, compared to $6.5 billion in 2021. When including offline sales, the overlap of the football season with Black Friday will present a massive $70 billion opportunity for the retail sector in MENA.

The report found that digital media will take the lead in enabling the opportunity with e-commerce as product discovery is dominated by digital channels. Online searches (69%) were found to be the top channel that respondents plan to use to search for new products during the football season, followed by social media (64%), online customer reviews (63%), and brand/retailer apps (55%).

72% of respondents said they use social media to discover content related to their favourite sport, with 70% saying they expect to consume more short form video content during the football season.

“The current digital era promises to make this football tournament the most inclusive one, helping it reach people from all walks of life. 93% viewers will watch the world cup with their friends and family, highlighting the theme of togetherness that will run through this period of celebration. Digital media has democratized advertising, ensuring that even smaller brands can find a suitable offering to meet specific needs at a reasonable price. With 83% of football fans, using their smartphone while watching matches, innovative storytelling, leveraging the right formats, will help brands create everlasting brand recall,” said Akshay Jayaprakasan, Associate Partner, Redseer Middle East.

The report also found that digital ad spend has overtaken traditional ad spend, indicating that brands and retailers should double their focus on digital media during this period to maximise value creation for themselves and their target consumers.

Besides retail, the report found that the football tournament will bring a $4 billion opportunity through tourist spend with 51% being attributed to accommodation. Furthermore, the tourist mix will see a higher representation from women and people under 45 than previous tournaments.

Findings from a report created by Redseer in partnership with TikTok

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