UAE e-commerce to touch $10bn-mark by 2018


June 7, 2017 | By RetailME Bureau

The e-commerce industry in the UAE is expected to hit the $10 billion-mark (AED36.7 billion) by 2018, indicates Mallfortheworld.com – a global e-commerce platform which enables customers in Africa, the Caribbean and Middle East to purchase products from over 200 UK and US retailers.

Regional retailers are in the process of consolidating their online presence in a bid to remain competitive and profitable. With the UAE’s current e-commerce value estimated to be around $2.5 billion (AED9.2 billion), analysts are optimistic that the region’s e-commerce market is on an accelerated growth trajectory.

The MENA region has been fascinated with mega malls for years now. But in the past couple years, people in the MENA region have shifted to online shopping more than anyone has expected. E-commerce trade in the UAE was at $2.5 billion in 2014 and is expected to touch $10 billion by 2018, a 400% increase over just four years. With such astounding growth, no wonder companies like MallfortheWorld.com is looking at the GCC and MENA as its next break-through hub, says Chris Folayan, CEO and Founder of Mallfortheworld.com

Sales and selection have been the key to e-commerce success in the region where fashion and apparel rank on top, followed by shoes and accessories and jewellery and watches, states MallfortheWorld.com.

With selection and sales driving e-commerce, many luxury brands are tapping into the wealth and high fashion trendy nature of the region. Brands like Chopard, Gucci, Prada, Versace, Coach, Breitling, Alexander McQueen, Chanel and Christian Louboutin, among others have physical stores and billboards across the UAE showing the amazing wealth these luxury brands want to tap into.

“But with the selection online, many of these are really showcase stores while people gravitate towards online stores for the sales, style and perks that come with buying items online. We anticipate growth in the luxury online e-commerce industry in the region to 300% in the next two years as we keep seeing a steady increase in luxury brand sales and desire,” opines Folayan.

Mallfortheworld.com is now urging UAE retailers to take advantage of the 3.6 hours the region’s consumers spend daily on social media to strategically position their products and brands in the market. UAE’s high smartphone penetration, currently at over 70%, has also been cited as one of the key drivers of ecommerce growth. This, according to Mallfortheworld.com, presents a golden opportunity for online shopping growth with 60% of UAE consumers having made a purchase with their smartphone over the last 12 months.

 

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto




Download Images RetailME Magazine