https://adgully.me/post/2140/younger-tech-savvy-mena-to-raise-e-commerce-spend-by-15-in-2023

Younger tech-Savvy MENA to raise e-commerce spend by 15% in 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.
https://adgully.me/post/1943/dubai-witnesses-surge-in-e-commerce-market

Dubai witnesses surge in e-commerce market

Dubai: Tradeling, the largest business-to-business (B2B) marketplace in the Middle East and North Africa (MENA), has witnessed a strong surge in the region’s e-commerce sector as multiple reports have cited an expected consistent growth for the industry in both Dubai and the MENA region.According to a recent interview with Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, Dubai has witnessed a recent surge in the e-commerce market due to several factors, including a 97% year-on-year growth for the number of international visitors, which reached 14.36 million in 2022 in comparison with the previous year (2021). This is in large part due to the resilience of the UAE government, who have reacted as well as anyone to the aftermath of the COVID-19 pandemic and was able to re-open the market to everyone under the right safety measures. Another strong reason is the evolution of retail and e-commerce as Dubai has seen an entry into the metaverse, with stores and malls opening in the Web3 space. Retail outlets have been able to adjust very smoothly and effectively in bridging the gap between the digital and actual world with all the advanced technology provided to them, and UAE residents are able to take advantage of the opportunity and incorporate it as part of their daily lives. This trend is continuously becoming the new norm for shoppers in using the internet as their main platform for the majority of their purchases.The sector has also reached a high-growth era for the entire MENA region, with significant progress in sales, logistics, and payments, nearly reaching $37 billion in 2022, according to a report by EZDubai, with the expectation to reach almost $57 billion by 2026 at a compound annual growth rate of 11%. This is in large part due to increasing internet and mobile penetration, rising consumer demand for convenience and value, as well as the emergence of innovative business models.Marius Ciavola, CEO of Tradeling commented on this: “The region’s focus on innovation, while embracing advancements in technology and adopting a digital-first approach has fuelled the growth of the e-commerce sector in the region. This is spearheaded by Dubai which is always looking to maximize all opportunities and unlock its full potential across all industries, with e-commerce being one of the main growth pillars. The UAE has always been a leader in accepting and utilising technology to its full advantage and the first step to this was digitalising its economy in 2013, resulting in a continuous increase in the e-c0mmerce sector, as the majority of the population has adopted the idea of a cashless society with all transactions implemented more efficiently without the requirement of a physical presence. The sector has been able to grow exponentially during and after the pandemic,  and continue to push on this strong momentum with additional support by the rising demand for online shopping and steady investment in the sector’s infrastructure.”As the MENA’s dominant B2B marketplace, Tradeling is playing an instrumental role in the UAE’s e-commerce rise. 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.