One constant fact about the retail industry is that consumer behaviour can always and easily change overnight. On the one hand, the global retail industry is mature and highly competitive in the developed economies of Europe and North America. On the other hand, the developing economies of Asia-Pacific, the Middle East, and Latin America have been instrumental in driving market growth.
E-commerce remains the fastest-growing segment in the retail industry across the world, the UAE being no exception. In 2020 alone the industry rose an unprecedented 53% in value with USD 3.9bn. This has to do with the phenomenal levels of growth that the industry has witnessed since the pandemic in 2020.
The UAE’s high digital connectivity, combined with its logistical efficiency and supply chain technological solutions, have contributed to placing the UAE on top of the e-commerce market in the Middle East, North Africa, and South Asia (MENASA) region, reports Visa Middle East. The integration of e-commerce with its peer industries now covers telecom, education, food, entertainment, electronics, transportation, and fuel, among other categories.