Dublin, May 27, 2024 (GLOBE NEWSWIRE) -- The "United Arab Emirates Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The E-commerce market in United Arab Emirates is expected to grow by 12.77% on annual basis to reach US$34.6 billion in 2024. The E-commerce is expected to grow steadily over the forecast period, recording a CAGR of 10.24% during 2024-2028. The E-commerce Gross Merchandise Value in the country will increase from US$30.7 billion in 2023 to reach US$51.2 billion by 2028.
The B2C e-commerce market is poised to grow at an accelerated rate over the next three to four years in the Emirati nation. The growth will be driven by young generation shoppers, including Gen Z and millennial consumers. To tap into the growing number of online buyers, offline retail businesses are also launching their e-commerce platforms, thereby targeting higher sales and revenue growth.
The fast-growing market is also expected to drive investment from e-commerce platforms in the region. The demand for warehouses, for instance, has been growing significantly in the Emirates. With the market poised for further growth, the publisher expects online retailers to invest in expanding their warehouse capacity. Overall, the publisher maintains a robust growth outlook for the UAE B2C e-commerce market over the next three to four years.
Domestic and global brands are launching e-commerce platforms to tap into the high-growth Emirati market
The e-commerce sector is poised to grow at a rapid rate over the medium term. The trend of online shopping, especially among Gen Z and millennial shoppers, is projected to grow further in 2024. Consequently, domestic and global brands are launching their online presence to tap into the growth market.
Ofooh, the fashion-focused e-commerce platform, launched in the Emirati market in September 2023. Fatima Khan, the founder, launched the platform at a time when several traditional retailers are building online presence in the country. The firm is targeting Gen Z and Z consumers through Ofooh. To bring global brands to UAE consumers, the firm has partnered with global fashion businesses, including Palik from the United Kingdom. In 2024, it is planning to add more businesses to the roaster. Going forward, it plans to become a multi-brand marketplace and expand beyond footwear.
Jacquemus, in December 2023, also launched a dedicated e-commerce platform for fashion consumers in the Emirates. To foray into the UAE, the firm entered into a strategic collaboration with Chalhoub Group. The e-commerce platform is offering same-day delivery in Dubai, while next-delivery is provided in parts of the Emirati nation. Furthermore, it has also made a buy now pay later payment option available for shoppers in the UAE.
Going forward, more domestic and global brands are expected to launch their e-commerce platforms. This will drive the competitive landscape in the sector, while also supporting market growth over the next three to four years.
Firms are forging strategic collaboration to improve the online shopping experience in the Emirates
Amid the surge in online shopping, shoppers are demanding improved experience through the journey. Consequently, to create a seamless shopping experience, from product discovery to payments, retailers are entering into strategic partnerships with global payment providers in the United Arab Emirates.
- Galeries Lafayette UAE, a well-known French department store, has entered into an alliance with the Canadian fintech company Nuvei to enhance the online payment system. The collaboration is set to upgrade the payment options for the French store located in Dubai Mall. Galeries Lafayette UAE offers same-day delivery and returns within the Emirates.
- This partnership is targeted towards helping Galeries Lafayette UAE expand its presence in global markets while ensuring improved authorization rates for online transactions. Nuvei will leverage its smart routing capabilities and integrate 3D Secure (3DS) technology to enhance the success rates of transactions and ensure a high level of security.
- As part of the collaboration, Nuvei will provide a detailed analysis to Galeries Lafayette UAE's e-commerce platform on how to enhance authorization rates securely through the implementation of 3DS technology. Galeries Lafayette UAE's online shopping platform will also incorporate widely-used digital wallets like Apple Pay and Google Pay. This addition aims to provide customers with a more convenient and smooth payment experience, offering them flexibility in choosing their preferred payment method.
Authorities have announced new regulations for e-commerce platforms in the United Arab Emirates
Amid the rapid transformation experienced by the Emirati e-commerce industry, authorities have been quick too to announce new regulations for protecting the interest of online buyers. As per the new regulations announced, e-commerce platforms have to refrain from deceptive practices or providing false information that does not accurately describe the goods or services.
Furthermore, businesses are required to take prior approvals from the authorities before they can sell or ship products in the country, which require special approvals. The new regulations also have legislation that requires businesses to be careful when sharing customer-generated data. The new guidelines have been developed to enhance the online business environment in the Emirati nation. With the market poised for further growth over the medium term, more guidelines are expected to be announced by the authorities over the next three to four years.
This report provides a detailed data centric analysis of E-commerce market dynamics, covering over 100 KPIs in United Arab Emirates. It details market opportunity across key B2C verticals - Retail Shopping, Travel & Hospitality, Online Food Service, Media and Entertainment, Healthcare and Wellness, and Technology Products and Services. It provides market share by key players across key verticals along with sales channels (Platform to Consumer, Direct to Consumer, Consumer to Consumer). In addition, it provides spending pattern by payment instruments along with a snapshot of consumer behaviour in United Arab Emirates.
The report also covers niche trends such as market size by live streaming engagement model and cross border purchases. It also covers ecommerce spend share by operating systems, device (mobile vs desktop) and cities.
In addition, to detailed data-centric analysis, this report provides analyst commentary on key trends, drivers, strategies, and innovations in the E-commerce industry in United Arab Emirates.
Companies Featured
- Amazon
- Dubizzle
- Namshi
- Noon
- Sharaf DG
- Careem
- Carrefour
- Deliveroo
- Talabat
- Zomato
- Al Rostamani Travels
- Careem
- Dubai Taxi
- Infinity Travel
- Uber
Report Scope
United Arab Emirates Ecommerce Market Size and Future Growth Dynamics
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Gross Merchandise Volume Trend Analysis
United Arab Emirates User Statistics and Ratios of Key Performance Indicators
- User Statistics
- Card Abandonment Rate and Product Return Rate
- Ecommerce Per Capita and GDP Per Capita
- GDP Per Capita Trend Analysis
United Arab Emirates Ecommerce Market Share by Key Players
- United Arab Emirates Retail Shopping Ecommerce Market Share by Key Players (Amazon, Coles, Kmart, Myer, Woolworths)
- United Arab Emirates Travel Ecommerce Market Share by Key Players (Expedia, Lux Group, Shebah, Uber Taxi, Webjet)
- United Arab Emirates Food Service Ecommerce Market Share by Key Players (Deliveroo, Doordash, Menulog, OpenTable, Uber Eats)
United Arab Emirates Ecommerce Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis
- Retail Shopping (breakdown by clothing, footwear & accessories, health, beauty and personal care, food & beverage, appliances and electronics, home improvement, books, music & video, toys & hobby, auto)
- Travel and Hospitality (breakdown by air travel, train & bus, taxi service, hotels & resorts)
- Online Food Service (breakdown by aggregators, direct to consumer)
- Media and Entertainment (breakdown by streaming services, movies & events, theme parks & gaming)
- Healthcare and Wellness
- Technology Products and Services
- Other segments
United Arab Emirates Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
- Platform to Consumer
- Direct to Consumer
- Consumer to Consumer
United Arab Emirates Ecommerce Market Share by Travel and Hospitality Sales Channel
- Market Share by Travel and Hospitality Sales Channel
- Aggregator App - Gross Merchandise Value Trend Analysis
- Direct to Consumer - Gross Merchandise Value Trend Analysis
United Arab Emirates Ecommerce Market Size and Forecast by Online Food Service Sales Channel
- Aggregator App
- Direct to Consumer
United Arab Emirates Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2019-2028)
- Website Based
- Live Streaming
United Arab Emirates Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis
- Cross Border
- Domestic
United Arab Emirates Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis
- Mobile
- Desktop
United Arab Emirates Ecommerce Market Size and Forecast by Operating System
- iOS/macOS
- Android
- Other Operating Systems
United Arab Emirates Ecommerce Market Size and Forecast by City
- Tier 1
- Tier 2
- Tier 3
United Arab Emirates Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2019-2028)
- Credit Card
- Debit Card
- Bank Transfer
- Prepaid Card
- Digital & Mobile Wallet
- Cash
- Other Digital Payment
United Arab Emirates Ecommerce Consumer Demographics
- Market Share by Age Group
- Market Share by Income Level
- Market Share by Gender
For more information about this report visit https://www.researchandmarkets.com/r/skxk32
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