Majid Al Futtaim, the leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Asia, today released its annual ‘State of the UAE Retail Economy’ report for 2023. The report, which highlights key economic data, trends and insights into consumers’ behaviour patterns, spending habits, and sentiment across the Emirates, revealed that the UAE economy has remained resilient amid recent geopolitical tensions and economic headwinds, with the country’s Gross Domestic Product (GDP) expanding 3% on the back of a robust performance from non-oil sectors. Consumer spending in the retail economy displayed robust growth throughout the year, delivering a 13% increase in 2023 vs. 2022. While data showed a slowdown across the retail sectors in H2 2023 vs. H2 2022, this was found to be the result of a higher base effect from the previous year’s FIFA World Cup, which had given impetus to consumer spending due to a surge in tourism for that period. Overall, absolute consumer spend in 2023 was split evenly across the first half and the second half of the year, driven by a 14% increase in the UAE’s retail economy, including fashion (31%), general retail (16%), leisure and entertainment (15%), and hypermarkets and supermarkets (3%), and a 12% increase in non-retail spending in areas such as real estate services (100%), petrol and gas stations (28%), transportation (57%), and airlines (25%).Ahmed Galal Ismail, Chief Executive Officer at Majid Al Futtaim – Holding, said: “The UAE’s far-ranging social and economic ambitions continue to fuel the Nation’s success in creating long-term prosperity for its people. Over the past 12 months, its proven resilience to external pressures, coupled with progressive policy-making and an investor-friendly business environment has seen the UAE further strengthen its position as a lighthouse for the MENA region.Bucking global trends, the Nation’s ability to act as a magnet for global talent, investors and entrepreneurs, has translated to a record number of visitors, far surpassing pre-COVID levels, fuelling consumer confidence and further contributing to its thriving retail sector. Looking ahead, buoyed by positive retail economy indicators, the UAE is well-positioned to continue its remarkable growth trajectory.”The UAE successfully reduced inflation from a high of 5.2% in 2022, to 3.3% in 2023. Inflation in the country remained below the global average (at 6.9%), and considerably lower than the Middle East average (at 13.9%), sheltering consumers from most of the pressures emanating from the cost-of-living crisis experienced around the world in 2023.E-commerceE-commerce penetration in the UAE has more than doubled since 2019, rising from 5% in 2019 to 12% in 2023, with approximately 70% of transactions attributed to mobile phones. Consequently, the recorded growth in consumer spending was spurred by higher levels of accessibility brought on by an e-commerce boom, which has not slowed since the onset of the pandemic. Supported by the UAE’s Digital Economy Strategy which aims to double the contribution of the digital economy to GDP by 2032, and owing to world-class logistics and advanced digital infrastructure, there was a 15% increase in e-commerce consumer spending in the UAE retail economy in 2023, according to Majid Al Futtaim Point of Sales (POS) data.A majority of the growth in e-commerce spend was driven by increases in consumer spending within hypermarkets and supermarkets (19%), and retail general categories such as F&B (57%), electronics (271%), and hotels (10%), supported by a digitally savvy population and a strong fintech sector.Travel and TourismThe UAE's travel and tourism sectors witnessed significant growth in 2023, with tourist numbers surpassing pre-pandemic levels for the first time. More than half (53%) of international visitors came from Western Europe, South Asia, and the GCC. There was a notable surge in Chinese visitors, which rose by 287% compared to 2022.Dubai alone hosted 17.2 million overnight international visitors in 2023, a 19% year-on-year increase, with Dubai International Airport (DXB) experiencing its highest quarterly traffic in Q3 since 2019. As a result, hotel occupancy records hit a record high of 77% in 2023, up from 73% in 2022. The success of the country’s travel and tourism sector is in line with the UAE Tourism Strategy 2031, which aims to attract AED 100 billion in tourism investments and accommodate 40 million hotel guests by 2031.  Real EstateFollowing a very strong performance in 2022, the UAE’s real estate market continued to thrive in 2023 marking a record-breaking year both in terms of property sales volumes and value. Transactions were up 18% compared to 2022, with sales values increasing by 39% to AED 370 billion in 2023. Dubai, in particular, has seen a rapid increase in property prices, growing by over 20% annually in 2023, making it the second-fastest growing real estate market in the world.

The UAE's online shopping scene is exploding, with a projected market value of $17 billion by next year! This surge is fueled by consumer convenience and a growing appetite for online retail, says a report by YallaHub. Here's a breakdown of the key trends:Market growth: The UAE's e-commerce market is expected to see a compound annual growth rate (CAGR) of 6.54% from 2024 to 2028.2024 revenue: This year alone, the market is expected to reach a whopping $9 billion, boasting a market penetration of 66.1%.Regional trend: The Middle East and North Africa (MENA) region is mirroring this growth, with a projected e-commerce market size of $57 billion by 2026.What's hot online?UAE consumers are turning to e-commerce for a variety of products, with these categories leading the pack:Toys & DIY (29%) - Seems like UAE residents love getting crafty and keeping the little ones entertained!Fashion (27%) - No surprise here, online fashion shopping is booming.Electronics & media (18%) - Gadgets and entertainment are readily available at your fingertips.Food & poersonal care (13%) - Convenience reigns supreme, with groceries and toiletries delivered straight to your door.Furniture & appliances (12%) - Even bulky items are finding a home in UAE e-commerce carts.One surprising trend is the surge in online purchases of home and laundry care products. Consumers are increasingly comfortable buying these everyday essentials online, with the segment expected to reach $75.66 million by 2024.This trend extends to other personal care categories as well, with tissue and hygiene products projected to hit $19.41 million, and hair care exceeding $50 million in revenue by the end of this year.The UAE's e-commerce market is thriving, driven by convenience and a diverse range of product categories. Laundry care may not have been the expected leader, but it highlights the growing comfort level with online shopping for everyday essentials. This is a market ripe for further exploration and innovation. (Image by Pete Linforth from Pixabay)

With the beginning of the new year, TijaraHub announced the launch of its new e-commerce platform to support small and medium manufacturers in Egypt and Turkey to expand the reach of their products to global markets, enabling them to spread, penetrate promising markets, and grow sustainably. At the same time, the platform allows buyers to switch between various options and complete purchases from various approved suppliers.Mr. Mohamed Sharif, Co-founder and CEO of TijaraHub, said: “Our belief in the strength of Egyptian and Turkish products and their ability to compete globally, coupled with the revival of relations between Egypt and Turkey on both political and economic levels and the increase in the volume of trade exchange between the two countries, was the motivation behind launching this platform that will play a vital role in boosting exports of both countries, in particular achieving the Egyptian government's goal of USD 100 billion worth of exports annually. Furthermore, we envision the platform evolving into a regional hub for the Middle East, Europe, and Africa."The company's founders have more than 15 years of experience in international trade and have strong relationships with major buyers and manufacturers around the globe. The pandemic crisis, and the consequent growth of e-commerce, was a pivotal factor motivating the launch of the TijaraHub platform.Currently, the platform displays the products of more than 300 Egyptian factories in diversified industries such as food & beverage, fashion & textile, home appliances, and furniture, in addition to handicrafts, and it’s planned to reach 1,000 factories by the end of this year. Among the most prominent vendors on the platform from Egypt: El-Arabi Group, Crystal Asfour, Regina for Pasta & Food Industries, Dalydress, Cairo Poultry Processing Company (Koki), Libra Sport, Ariika, Manzzeli, Ceramica Cleopatra Group, Ragab El Attar Company, Janssen Egypt for Mattresses, Pure Misr. Additionally, the platform also includes vendors from Turkey such as Powertec, Simply, FemCasual, Avecon Republica, Simper, Fakira, Merkur, Bubbles cosmetics, Schnider, BYBURT69, and others.The platform aims to attract buyers from the Middle East and Europe as a first stage, especially the Arab Gulf countries, which are among the promising markets for Egyptian and Turkish exports across various sectors experiencing significant growth. The strong relations between the Gulf countries, Egypt and Turkey provide great opportunities for trade exchange and economic cooperation. supported by international trade agreements that facilitate logistics and reduce barriers.The platform offers a package of comprehensive services that ensure safe and simple trading experience for manufacturers and buyers, including a shipping service that provides a hassle-free door-to-door delivery experience, in cooperation with Saudi NAQEL express, FedEx, SMSA Express, and UPS.in addition to diverse and secure payment service for more than fifteen payment methods that enable buyers to pay in flexible installments plans up to nine months, to a comprehensive inspection service for products before, during, and after the manufacturing process in cooperation with SGS and Intertek.The platform is currently available through website www.tijarahub.com, and It’s planned to introduce mobile applications for both Apple and Android devices by March 2024 to provide an integrated experience for vendors and buyers.

The approaching Christmas and New Year period presents another significant opportunity for the e-commerce industry. To better assess the sales potential during this time, Admitad, a global affiliate marketing network, analyzed 11 million orders of 2850 brands worldwide and in MENA placed by users between December 18, 2022, and January 7, 2023. The results obtained by the company shed new light on both global trends and unique features of the MENA market.Global Sales Trends:General statistics from the global market during December 18, 2022, to January 7, 2023, reveals interesting dynamics. Despite a marginal 1.5% decrease in the number of orders, the Gross Merchandise Volume (GMV) witnessed a substantial 7.2% increase. The Average Order Value (AOV) demonstrated a noteworthy 8.8% growth, rising from $36.2 to $39.4. Mobile orders constituted a substantial 33% of total sales.In an unexpected turn, sales through marketplaces declined from 64% to 60%. This suggests a potential advantage for proprietors of independent trading platforms, websites, and applications during the upcoming Christmas period.Diversity characterizes sales sources during the festive season, with content platforms, cashback services, partner stores, coupons, and mobile applications emerging as the most effective channels. Contextual ads were found to be 15% more effective during the analyzed period, with in-app ads showing a remarkable 25% increase.Dynamic Development in MENA E-commerce:The analysis of collected data suggests that sales during the Christmas-New Year period will contribute to the dynamic development of the e-commerce market in the MENA region. The notable increase in mobile orders emphasizes the ongoing importance for brands to prioritize mobile devices and incorporate relevant information about popular product categories when designing Christmas offers.In the MENA market, there is a blend of global trends and regional nuances. From December 18, 2022, to January 7, 2023, local sales and GMVs experienced a commendable 15% increase. However, the AOV witnessed a slight decrease from $28.7 to $25.5. On a positive note, mobile orders in MENA increased from 58% to an impressive 65%.Categories with the Most Significant Sales Growth in MENA:Event Tickets & Entertainments: +67%Lights & Lighting: +25%Games: +22%Electronics: +10%Fashion: +9%Most Effective Traffic Sources by Share of Sales:The driving forces behind successful sales during this festive period include engaging content platforms, strategic contextual ads, enticing affiliate stores, rewarding cashback services, tempting coupons, vibrant social networks, and practical browser extensions. Notably, contextual and targeted ads exhibit a noteworthy 25% boost in effectiveness throughout the winter holidays, while content platforms showcase an even more impressive 30% surge in effectiveness during this joyful season.In conclusion, the growth in sales during the holiday season in the MENA market underscores a unique blend of cultural nuances and economic factors that contribute to this annual surge. Businesses in the MENA region leverage the holiday season as an opportune time for promotions, discounts, and special offers, encouraging heightened consumer spending. The observed uptick in sales year over year reflects the adaptability and innovation of the industry in catering to the diverse expectations of consumers during this special time of the year.

Flextock, a leading e-commerce enabler in the Middle East, is solidifying its presence in the region. Co-founded by CEO, Mohamed Mossaad and COO, Enas Siam, the start-up launched in January 2021 and witnessed remarkable results shortly after expanding into Saudi Arabia. This enabled the tech-centric company to 10x its Year-over-Year (YoY) net revenues last year while also more than doubling its gross profit margin by leveraging technology and scale.KSA is one of the world's 10 fastest-growing e-commerce markets[1]. Witnessing a compound annual growth rate (CAGR) of 15.01%, it is projected to grow from a market size of $11.83 billion in 2023 to $23.80 billion by 2028[2]. The strength of this market, and its promising potential moving forward, has accelerated Flextock’s growth. In one year, the company has successfully acquired hundreds of merchants and currently dispatches thousands of orders daily.A play on words combining flexibility and stock, Flextock started by addressing inefficiencies within warehouses before evolving to be a complete enabler for e-commerce merchant growth. The company leverages the power of technology to provide a three-in-one service which entails solutions related to logistics, sales, and fintech. While several companies offer one or two of these services, Flextock is a market first as it provides all three of these solutions to propel merchants into a realm of unparalleled empowerment.From a logistics standpoint, Flextock can be easily integrated into existing stores to efficiently manage the entire order fulfilment cycle, process inbound inventory, and provide the most effective last-mile experience; the company prioritizes accuracy and cost-effectiveness in storing inventory, ensuring clients can effortlessly scale their operations and track orders at the simple tap of a button. Regarding sales growth, Flextock offers merchants access to various channels to effectively grow while reducing reliance on traditional social media advertising.Mohamed Mossaad commented: “Our comprehensive approach underscores a commitment to providing efficient and reliable services for seamless e-commerce operations while enabling all parties to profit. In a geographic area grappling with challenges in these operational landscapes, our overarching goal was to offer a targeted solution that would comprehensively support the region’s ongoing shift from traditional retail to e-commerce; we have achieved this vision by recognizing a regional lag, jumping on the opportunity to propel this transition, and prioritizing the success of businesses and merchants before our own. Our mission is to be a solution-oriented platform, prioritizing our merchants above all else - because we believe that as we help merchants grow their sales, our business will also flourish, and the industry as a whole will benefit. It’s a win-win-win situation that is dependent on merchants thriving and we are proudly leading the charge.”Flextock is a hub for a diverse range of users, accommodating micro-brands and large-scale retailers. The company’s commitment to inclusivity is evident in the customization of its services and products to meet the needs of e-commerce merchants. The platform strategically spans more than 10 industries with an emphasized focus on cosmetics, home accessories, fashion, and electronics. Amidst its ongoing regional expansion, Flextock's cutting-edge technology and strong presence in KSA and Egypt solidify its position as a solution-oriented leader in the dynamic e-commerce landscape across the region.

Dubai, United Arab Emirates: WEE, a marketplace based in Dubai, announces a new initiative: a 45-minute delivery service. This move is tailored to meet the growing needs of UAE customers for express and efficient delivery. While WEE has already been celebrated for its 1-hour express delivery, this latest advancement cuts the wait time by an additional 15 minutes.However, recognizing the importance of meticulousness and quality, WEE ensures that this rapid delivery doesn't compromise the integrity of products or the shopping experience. Each order is handled with utmost care, emphasizing secure packaging and timely arrivals.For orders placed in the evening, WEE has instituted a next-day delivery system. This guarantees that evening shoppers still benefit from the platform's commitment to swift service, receiving their products promptly the following day.WEE scrutinizes patterns, customer feedback, and technological advancements to optimize their operations, enabling this delivery timeframe.By continuously seeking avenues to improve and innovate, WEE underscores its dedication to leading the e-commerce domain, always placing the needs and desires of its users at the forefront.The e-commerce market in the UAE is worth $12.8 billion (Statista, 2022), with the expected growth of up to $20 billion by 2027. Express delivery constitutes 5.5% of the turnover, which is equal to $700 million. The highest demand for urgent delivery is in such categories as cosmetics, pharmacy products, flowers and food.

Honeywell (Nasdaq: HON) has unveiled its latest mobile device tailored for warehouse, logistics and fieldwork professionals that can endure the demanding warehouse environment while helping provide efficient logistics operations in the Middle East.The Honeywell CT47 mobile computer is designed to provide reliable performance, 5G data connectivity and enhanced communications capabilities, giving workers one powerful device to complete tasks in the supply chain – from picking and packing to delivery. The solution will be on display at GITEX 2023 in Dubai.“Workers on the frontline in transportation, logistics and warehousing are demanding users of their mobile devices. What businesses really need is a tough, dependable and easy-to-use device that can help these workers get more done, all while being efficient,” said Taylor Smith, vice president and general manager of voice automation in Honeywell’s Productivity Solutions and Services business. “The CT47 helps those on the front line accomplish tasks accurately and efficiently and enables companies to achieve a more seamless supply chain. It’s not just a tool, it's a mission-critical solution for warehouse, distribution centre and logistics businesses." In industries undergoing digital transformation, such as warehouses, technology is becoming increasingly indispensable for workers to be able to carry out their tasks effectively. The introduction of 5G connectivity brings internet-based computing and devices closer to the endpoints and systems, including the workforce within these facilities.With 5G, work tasks, productivity insights and worker collaboration will seamlessly occur in real time, offering swift access to data insights and accommodating numerous devices on the network simultaneously. This transformative shift in connectivity empowers workers to harness the full potential of technology, enhancing their efficiency and productivity in the evolving digital landscape of the supply chain.The Middle East is experiencing a growing need for enhanced warehouse efficiency, a crucial factor in enabling workers to achieve greater speed and effectiveness in distribution. Warehouses play a pivotal role in both the retail sector and in serving the needs of digital enthusiasts, as nearly nine out of every ten customers in the region intend to continue making online purchases, a trend that has persisted since the onset of the pandemic.The e-commerce market is thriving, driven by a steadfast commitment to meeting customer demands for convenience. This consumer demand has given rise to a need for mobile workers to have cutting-edge tools and actionable insights to effectively handle the rapid expansion of tasks and workflows across various industries. A recent report unveiled that in 2022, the Middle East and North Africa region's e-commerce market surged to a staggering US $37 billion in size, a double-digit growth rate compared to 2021 and an impressive 32% compound annual growth rate from 2018 to 2022.GITEX attendees can see Honeywell’s CT47 as well as other offerings at Hall 5, Stand B1 at the Dubai World Trade Center (DWTC).Honeywell has been operating in the Middle East for more than 70 years, creating value for customers and ultimately supporting long-term national development visions and economic diversification. To learn more about the latest solutions that improve productivity, promote workplace safety and optimize asset performance for industries across the globe, visit sps.honeywell.com.

Dubai: WEE Marketplace, has launched its last-mile logistics platform based on advanced technology to provide quick and seamless delivery service – tapping into UAE’s $12.7 billion e -commerce market1.WEE’s platform aims to have over 500 reputed and trusted retailers and sellers by end of 2023. Currently based on an invite-only model, the platform will feature limited number of sellers to ensure minimal competition and maximum quality of products for UAE customers. With a network of over 50,000 riders (along with local partners), WEE can offer customers across the UAE access to a wide range of high-quality products from top-tier brands/retailers with a speedy delivery service (within 45 minutes) and competitive prices on its platform.Anastasia Kim, Co-founder, WEE Marketplace said, “Increased adoption of smartphones, rising internet penetration, has shifted consumer preferences towards online shopping. Our platform will allow retailers to provide a hassle-free on demand delivery service to its customers across the UAE. It will help them streamline the process even further by tackling the most crucial parts of their supply chain, giving them a competitive edge.”Currently the platform features over 7,000 products from various categories like electronics and appliances, beauty and health, household, petfood, automotive, sports and leisure, books, kids and toys, and accessories. The company plans to expand its fulfillment services to stock more than half a million products by end of 2023.

Dubai: Tradeling, the largest business-to-business (B2B) marketplace in the Middle East and North Africa (MENA), cites that the pandemic-induced trend of digital adoption across several industries is set to continue with a relatively young and technologically inclined population driving this projection. The region’s median age of 26 for its younger population is reported to be significantly lower than the global average, and this is forecasted to boost e-commerce spending by 15% in 2023 when compared to the previous year .Out of necessity, increased worldwide digital adoption was witnessed at the onset of the pandemic. Despite the World Health Organization (WHO) declassifying COVID-19 as a global emergency , MENA is projected to maintain its upward trajectory by adding approximately 100 million new digital service users over the next five years.This progress is predicted to see as many as 125 million new digital users by 2030 while boosting the region’s digital economy from its $100 billion value in 2022 to an eye-popping $500 billion by the end of the decade .Hyper growth in MENA’s digital economy is expected to continue for the foreseeable future with hyper growth expected in the GCC. Furthermore, the UAE’s e-commerce sector is poised to make major contributions via its high internet penetration rate of more than 90%, a growing smartphone user base, and an increasing demand for online shopping; consumers have grown to prefer such convenience over traditional brick-and-mortar stores since the outbreak of COVID. Favourable government policies are also supporting the country’s e-commerce rise .The UAE government has implemented several initiatives to promote entrepreneurship and innovation in the country’s e-commerce space while also developing frameworks which protect consumers and businesses; this includes regulating payment systems and establishing dispute resolution mechanisms among other efforts . As a result, MENA’s digital economy is rapidly gaining ground on emerging markets like Indonesia and India which are respectively valued at around $70 billion and $135 billion.Marius Ciavola, CEO of Tradeling, commented: “E-commerce in the Middle East, and the region’s digital economy as a whole, are well-positioned to lead the world in the coming years with the UAE at the forefront. A strategic location, diverse economy, and innovative infrastructure have seen e-commerce popularity surge in the country in recent years and there appears to be no slowdown in sight. As a younger, tech-savvy demographic continues being nurtured through proactive efforts of the UAE’s wise leadership and a willingness to embrace new technologies and digital solutions, the industry’s future is promising.”As MENA’s dominant B2B marketplace, Tradeling is shaping the future of e-commerce in the UAE. The company has grown rapidly since its inception three years ago with a wide selection of more than 1.7 million unique products across 14 categories and more than 200,000 registered buyers and sellers from 55 countries. Partnerships with local entities such as Wio Bank and Food Tech Valley, as well as global ones like Mastercard, are further solidifying Tradeling’s presence while simultaneously helping to prop up the country’s economy.

Dubai – Euromercato, a leading food store supplying authentic Italian Food and brands, has hired Prism Digital, a Dubai-based full-service digital marketing company to design a bespoke mobile-first e-commerce website to drive its foray into direct-to-consumer e-commerce business.Prism has built a new custom-made e-commerce website on Shopify platform, with more than 1000+ gourmet products provided by Euromercato. Each section within the e-commerce website design has been customized to create location-centric shipping and delivery across the seven emirates. The multi-device responsive website also has cross-browser compatibility, combined with effective SEO practices to help increase the brand’s online presence by reaching out to a broader audience to accelerate sales.Speaking about the partnership with Prism, Mr. Al Sehhi, Managing Director of Euromercato, commented, “We have partnered with Prism to redesign our entire online presence from our website to social media and SEO. Since they have taken over our digital marketing, our brand visibility and sales have increased and our visual identity online has vastly improved. They manage all our digital marketing and we are very happy with their services. We look forward to working with them over the next couple of years to strengthen our presence online and drive more value to our customers and partners.” Speaking on the website launch, Mr. Lovetto Nazareth, Managing Director, Prism Digital, commented, “Euromercato is looking to capitalize on its quality and reputation in the B2B segment and quickly become a major B2C and even a direct-to-consumer (D2C) brand. In this regard, the brand wanted to undergo a detailed strategic and systematic makeover in its website design and functionalities. We understood the requirement of the client backed by our expansive experience in the e-commerce website development space and tailor-made the Euromercato website with a streamlined user journey and “one click sale” methodology.”The Euromercato website is very fast on every device and loads in under 0.28 seconds. The smart technology on the website has integrated lead generation functionalities by capturing, tracking, and contacting leads to ensure that the visitors on the website are converted. Furthermore, it also provides powerful tools to the admin giving them a detailed view of the e-store performance, track sales, traffic sources, and customer behaviour. Its high-end security features, a vast range of third-party integrations, insightful analytics, and user-friendly interface make it one of the most comprehensive websites within the food space category.

Leading e-commerce experts discussed the prospects, trends, and peculiarities of the e-commerce industry in the MENA region. Discussions ranged from business models in e-commerce, such as marketplaces and D2C channels, to digital marketing, data analytics, and approaches to e-commerce business development.The conference featured an impressive lineup of speakers, including distinguished industry leaders, such as Anshuman Anand, Vice President of Apparel Group, Jonathan Flender, Digital and E-commerce General Manager at Al-Futtaim, Aadil Shaikh, Regional Product Lead at Amazon, Ivan Gudkov, E-commerce Vertical Lead at TikTok, Abhishek Shah, Co-founder and CEO of RSA Global, and Mohamad Anas Derieh, Head of E-commerce at Arla Foods, among many other esteemed experts.The conference was opened by Daria Tkachenko, CEO of Sellematics and Sellscreen, the companies that organized the conference, and Leo Dovbenko, CEO and Co-founder of YallaMarket and YallaHub, and partner of the Marketplace & D2C ?onference 2023.Daria Tkachenko presented an incredible report on the benefits of analytics services for customers, and demonstrated trends, strategies, and forecasts for e-commerce in the MENA region. She spoke about how the MENA region is the fastest-growing market in the world with 25% predicted growth, and shared data insights from Sellematics showing that the number of sellers in November had increased by 6% compared to August, and that there was a significant increase in revenue in all categories in the Noon UAE marketplace. She also highlighted the importance of analytics for e-commerce success. All the data insights were received from the Sellematics service.Leo Dovbenko, the conference partner, discussed the growth trends in the region and the unique market dynamics that set the MENA region apart from the rest of the world. He shared details of YallaHub's marketplace aggregator, which has already helped launch 40+ successful brands in the region. Dovbenko emphasized the importance of a solid GTM (Go-To-Market) strategy for launching new products in the market.The Marketplace & D2C ?onference 2023 was an inspiring event that showcased the MENA region's potential for e-commerce growth. Given the impressive turnout and the quality of the discussions, it is clear that the e-commerce industry in the region is poised for further expansion, and we can't wait to see what the future holds.

E-commerce in the MENA region has settled into a stable, high-growth era, with increased opportunities for e-commerce players. Data from leading global payment solutions provider Checkout.com’s report: Digital Transformation in MENA 2022, proves that the e-commerce trends accelerated by the pandemic are here to stay. The report surveyed over 15,500 shoppers across the Middle East and North Africa.Ecommerce penetration continues to mature and deepenIn the past 3 years ecommerce has grown faster in the MENA region than anywhere else in the world, with an estimated 209 million consumers transitioning to online shopping during the height of the pandemic. Now, with the pandemic’s lockdowns now behind us, the number of ecommerce shoppers in MENA only continues to grow. According to the report, 91% of respondents said they regularly shop online, up from 87% in 2021. Further, more than half (52%) of MENA residents said they shopped more frequently this year, up from 47% in 2021. On a more local level, looking at the GCC, we see that 9% of consumers are spending money online at least once per day, which is a 50% increase in the past 12 months.These positive trends are set to continue, with 88% of respondents across MENA saying they will increase their online purchases over the next year.In parallel, as the regional economy thrives, and the pandemic recedes, we see an increase in consumers spending money online within categories such as travel and tourism, events and entertainment, however, with a total of 45% prepared food remains the number one category customers spend their money online on.Digital Payments SurgeConsumer appetite for digital payments continues to rise, maintaining 2021 trends. The report shows that 70% of consumers across MENA prefer to use a digital payment method - up from 60% in 2021 and 40% in 2020, representing a 75% increase in 24 months. The figure is even higher in the GCC region, which has a much higher digital penetration, with 80% of GCC consumers now favoring digital payment methods.These results mirror the sharp rise in payment apps and digital wallets in the region, where 82% of consumers in MENA report using some form of fintech app in 2022, up from 76% in 2021. In fact, across the entire region we see a continued uptick in the adoption of digital wallets as the go-to payment method with a 6 percentage point increase in 24 months. In particular countries such as Egypt, Qatar and Saudi have seen a near doubling in the popularity of digital wallets. Conversely, the use of Cash on Delivery (CoD) has declined precipitously in MENA, with a nearly 40% drop in the past 24 months.Sophisticated Consumer BaseThe increased sophistication of the regional e-commerce landscape is seen in the continued appeal of Buy Now Pay Later (BNPL) options and sCommerce (social commerce). Nearly half of consumers in the UAE and Saudi Arabia used BNPL this year. Across MENA, 39% of consumers have used a BNPL option in 2022, up from 24% of consumers in 2021, representing 64% YoY growth. A further 28% of consumers who have not used BNPL hope to use it in the next 12 months, meaning as many as 67% of consumers in MENA may use the method in 2023. Perhaps even more strikingly, is to see that the penetration of BNPL is higher in MENA compared with the US and Europe.With the ever-increasing average time people spend on social media per day, it is not surprising that a fifth of consumers in MENA say they now frequently shop via social media channels (sCommerce), representing a 43% growth in the past 24 months. Meanwhile, the appetite for social commerce has more than double in KSA and the UAE.Remo Giovanni Abbondandolo, Vice President for MENA at Checkout.com, said: "The report validates our conclusions from last year – that the region's eCommerce and digital payment ecosystem is growing rapidly. The combination of a digitally savvy population and a mature retail sector will ensure these gains are sustained in the long run. Additionally, the growing trust in online payments by regional shoppers means the digital transformation of the region's retail sector is well underway. This is underlined by the emergence of Web3 as a key component of the online experience, with shoppers showing a significant appetite for transacting on-chain, and a desire both to be paid and to pay in digital currencies."As seen in the report, fintech and digital payments adoption continues to soar across the region. Merchants are racing to keep up and as they do so, they continue to innovate and diversify the consumer offering. Consumers, of course, are quick to respond and the competitive landscape sharpens as the benchmark for consumer expectations continues to climb. To read the report in detail and know more about Checkout.com, please visit this link.