The rise of e-commerce has changed the worldwide retail market. This megatrend, which has altered consumer behavior and retail business structures, has yet to achieve the middle East. quite 40% of respondents increased their online purchasing after the coronavirus epidemic, contributing to the expansion of the e-commerce sector within the center East . Growing numbers of tech-savvy children within the center East , notably the Gulf region, are fuelling the rise of e-commerce because of a high per capita income and excellent transit logistics network.
so on accumulate information about items and services, price comparison engines comb through a selection of e-commerce stores. an internet price comparison service compiles all data into a final report which personalizes to the visitor’s search request. there’s a fantastic change within the increase of price comparison sites within the center -east because after the attack of covid many folks tend to shop for online, which provides a relaxation to them. many folks tend to choose the only product which has good ratings and reviews which is completed by comparison sites. After research, there is a rise within the speed of online shopping in Middle East so, price comparison sites also increased in Middle East , which are directly proportional to each other.
Switch to e-commerce from conventional bricks and mortar:
According to Gartner, just 15 percent of Middle Eastern firms have an internet presence, and over 90 percent of online transactions within the world are from abroad. because of Noon.com’s debut as an enormous regional e-commerce player, Amazon’s acquisition of Souq.com, and rising technology usage, this trend is reverse shortly. Market participants are witnessing a structural transition from traditional in-store concept to online channel through digital technology, resulting in digital disruption.
Emirates has the second-strongest economy among Arab countries, after Saudi Arabia . And this area has experienced a rapid increase in internet access in recent years, with penetration in Qatar, Bahrain, and thus the United Arab Emirates exceeding 90%. Globally, internet penetration is 51.7 percent, but within the center East , it’s 60 percent in 2021.
Stats and trends:
It is the goal of e-commerce companies to provide their consumers something new and distinctive frequently. as an example , it would be a replacement product or an improved purchasing experience on an online site .
E-commerce trends for 2021 include responding quickly to plug changes and accelerating product releases to urge a competitive advantage. The customer must expose to a product ready to be released within the United Arab Emirates through marketing and collaborations.
Increase in Voice commerce:
As e-commerce trends continued to evolve, expected virtual assistants like Alexa, Cortana, and Google Home became increasingly popular. an outsized number of individuals believe it to wake them up and to make internet purchases. The sales of voice commerce are expected to achieve $40 billion by 2022, according to research. As a result, voice commerce is flourishing. The virtual assistants from Google and Amazon come pre-programmed with regional languages to make shopping more convenient. 50% of the population used this type of commerce to buy for products in 2021.
A rise in omnichannel and social commerce:
Omnichannel commerce refers to providing shoppers with a consistent and seamless experience across platforms and devices. according to common belief, it’s e-commerce’s most discussed trend.
An online study found that seventy-three percent of respondents shopped across multiple channels. As a result, omnichannel clients – especially those emerging from mobile devices and voice auxiliary – became more prevalent. it’ll be necessary for your shop to be well-optimized for a selection of customer-experience platforms. The United Arab Emirates has 99.0 percent of its people using social commerce in 2021.
Mobile Optimized Commerce: It’s no surprise that mobile e-commerce trends are constantly developing. If an online site renders correctly on a mobile , customers are more likely to make purchases. Your website must be mobile-friendly, as mobile devices anticipate generating 73 percent of all e-commerce sales by the highest of 2021. Between January 2020 and January 2021, the quantity of mobile connections within the United Arab Emirates fell by 1.4 million (-7.5%). Mobile connections within the United Arab Emirates reached 171.6 percent of the whole population in 2021.
Mode of Payments: the majority of e-commerce companies already accept digital wallets like Google Pay, Samsung Pay, and PayPal, also as debit and credit cards. Also, thanks to a budget transaction fees and thus the shortage of reverse transactions, many online company operators are already using bitcoins as a kind of payment. Cards are the foremost used to payment method in UAE, nearly 39% people used it, whereas cash payment was 20% in 2021.