The upcoming Fifa World Cup in Qatar 2022 will provide an additional boost to the festive retail season in the Mena, with a predicted peak gross merchandise value of $8.4 billion for online retail, compared to $6.5 billion last year, according to a report released by consulting firm Redseer in partnership with TikTok.
When combined with offline sales, the overlap of the football season with Black Friday will present a staggering $70 billion dual benefit for the Mena retailers.
The report found that digital media will be a boon for e-commerce businesses, as product discovery is dominated by digital channels. Online searches—accounting for 69 per cent— were revealed as the most favoured channel that respondents intend to use to discover new products during the World Cup season. This is followed by social media—64 per cent, online customer reviews—63 per cent and brand/retailer apps which amounts to 55 per cent.
Head of business partnerships for managed services and global business solutions for the Mena at TikTok, Joanne Chehab, said: “The upcoming football season is an unparalleled opportunity for brands to tap into a huge, passionate and highly engaged audience.
“TikTok will be one of the major channels through which this audience will engage with content; in 2021, there were 129 billion views for the #football hashtag globally on the platform. Prioritising creativity to build brand-event adjacency, TikTok is the place to be for brands who want to seize the football moment and meet/engage their audience with authentic and impactful stories.”
Seventy-two per cent of those surveyed said they use social media to discover content related to their favourite sport, with 70 per cent claiming they expect to consume more short-form video content during the Fifa World Cup 2022 season.
Associate partner at Redseer in the Middle East, Akshay Jayaprakasan, said: “The current digital era promises to make this football tournament the most inclusive one, helping it reach people from all walks of life. Ninety-three per cent of viewers will watch the world cup with their friends and family, highlighting the theme of togetherness that will run through this period of celebration.
“Digital media has democratized advertising, ensuring that even smaller brands can find a suitable offering to meet specific needs at a reasonable price. With 83 per cent of football fans using their smartphone while watching matches, innovative storytelling and leveraging the right formats will help brands create everlasting brand recall.”
Equally important, the report highlighted that digital advertising spending has exceeded that of traditional advertising, indicating the need for brands and retailers to laser focus on digital media during this period to maximise value creation for themselves and their target consumers.
