For consumers in the United Arab Emirates, online shopping is now a regular habit, according to Checkout.com
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Buy online and collect later? Or will he buy now and pay later? Consumer spending patterns are changing in the UAE, but two things stand out: They are moving more to the internet and making those payments digitally.
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Dubai: Yes, online shopping is becoming a habit for buyers from UAE and Middle East. COVID-19 has certainly made sure of that.
Currently, 83% of consumers believe they will shop online more frequently in 2022. That’s up from the 47% who said they would last year. Obviously, a lot has changed in these 12+ months, and retailers will not have let these trends go unnoticed.
Online purchases and in-store withdrawals are becoming common practice. So much so that even UAE car dealerships offer this possibility, with all the payment part finished before the car owner enters the showroom.
Online shopping is most common in the grocery space or daily needs as well as food delivery. Almost half of those polled in the Checkout.com report said they buy online at least once a month. And 53% said they were doing more of their shopping online now than before the pandemic started. During Ramadan, there are obvious spikes in online shopping, with 76% of consumers in the UAE and Saudi Arabia saying they plan to buy products and services online more frequently during the holy month. .
“A thriving digital payments and e-commerce ecosystem is making consumers feel more empowered, fintech start-ups thrive and markets are opening up,†said Mo Ali Yusuf, regional director at Checkout. com.
Pay digitally too
Online sellers are reporting lower cash on delivery usage among their buyers, and this trend is also reflected in Checkout.com’s results. Up to 60% of consumers now prefer to pay for their e-commerce offers via digital payment, a gain of 20% from last year.
“It is also giving way to new payment methods, including digital wallets, in-app social purchases, and ‘Buy Now, Pay Later (BNPL)’ options, the report says. The region is now expanding to a faster pace on digital payments than markets in Europe or Asia-Pacific.
“Today, three in four consumers in the region say they have used some form of fintech app in the past year, with 81% believing that they benefit directly from the growth of the fintech industry,†the report adds.
“This represents a phenomenal opportunity for global and national traders to expand their businesses in the MENA region,†Yousuf said.
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