28 December, 2021
UAE Globally Ranked #14 on Retail Spending
UAE leads MENA region on e-Commerce spending, according to the retail report from global consulting firm Kearney.
Total retail spending in the UAE last year reached $71 billion, positioning it 14th globally and on the top spot in the Middle East and North Africa region, according to the survey.
UAE led the Mena region in terms of household spending on e-commerce, with $2,554 in average spending per household, which is twice the global average of $1,156 and four times the Mena average of $629, positioning the country as a high-demand market, the 2021 Global Retail Development Index revealed.
The Kearney study ranks 35 emerging countries based on a set of 26 factors and four key variables to determine markets that are growing, attractive and relatively risk-free.
Driving the retail growth in the UAE are technology and experiential marketing as retailers adopt technologies such as artificial intelligence, Internet of Things and virtual reality, the consumer and retail consultancy said.
The UAE’s e-commerce market significantly grew after the pandemic as more consumers turned to online channels for their shopping needs. The sector grew 53 per cent to a record $3.9 billion in 2020 and it is expected to grow further, the Dubai Chamber of Commerce and Industry said in June.
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Source : thenationalnews