According to new research from global market research company Euromonitor International, internet sales are expected to grow a staggering 95% in the United Arab Emirates over the next five years as consumers become more sophisticated and confident that online orders offer quality products, prompt home delivery and card security.
Internet retailing in the UAE will benefit from a surge in consumer enthusiasm and confidence over the next five years.
According to Ayman Ghanam, Research Analyst at Euromonitor, “The internet, despite its comparatively low usage penetration, has already played a significant part in the Arab Spring and as a result the Middle East is expected to see massive growth.”
“This trend will be encouraged by the growing usage of credit cards as consumers become more comfortable with buying online. With internet users in the Arab World tipped to reach over 170 million by 2016, internet retailing in the region is clearly set for staggering growth,” he added.
Looking ahead, Euromonitor market research indicates internet retailing in the region is expanding across other channels, with new products such as home care and DIY and gardening recently gaining their first significant presence in internet retailing.
Players from the UAE have already started expanding elsewhere including Saudi Arabia where forecast growth over the next 5 years is 136%. Euromonitor expects this to be followed by expansion into other Arab countries such as Egypt.