{"id":18686,"date":"2022-10-01T10:45:58","date_gmt":"2022-10-01T10:45:58","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=18686"},"modified":"2022-10-04T21:02:33","modified_gmt":"2022-10-04T21:02:33","slug":"uae-has-fastest-growing-e-commerce-market-in-the-world","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/10\/01\/uae-has-fastest-growing-e-commerce-market-in-the-world\/","title":{"rendered":"UAE has fastest-growing e-commerce market in the world"},"content":{"rendered":"


\nThe UAE has the fastest-growing e-commerce market<\/a> in the world, a recent Statista report reveals.<\/p>\n

Outpacing South Korea and Argentina, the UAE\u2019s e-commerce sector<\/a> is projected to hit $27 billion this year due to the rapid mushrooming of Dubai-based SMEs<\/a>.<\/p>\n

The e-commerce sector in the UAE is set for a further boom as more retailers are shifting their focus to online services in the aftermath of Covid-19, experts say.<\/p>\n

At this rate, the UAE\u2019s e-commerce will join the ranks of formidable economic powerhouses like the US and China. The trend is spurred by high-net-worth investors who are willing to set up their businesses in the Emirates.<\/p>\n

Among other contributing growth factors are rising internet penetration, increasing incomes, strong presence of international players and efficient adoption of digital payment solutions.<\/p>\n

The UAE is forecast to boost its e-commerce spending by an extra 22.32 per cent this year, to reach the desired target of $8 billion in online sales value by 2025 from $5 billion recorded last year.<\/p>\n

E-commerce sales in the UAE were estimated to grow by an average of 23 per cent a year between 2018 and 2022, according to Statista.<\/p>\n

The UAE\u2019s e-commerce spending is also expected to account for 7 per cent of the total retail spending this year.<\/p>\n

A report by Research and Markets projected that the Middle East\u2019s e-commerce market would grow by 22.38 per cent annually to reach $104.1 billion this year.<\/p>\n

\u201cThis, coupled with growing incomes, high possessions of smartphone devices, increasing presence of global players, and enhanced supply chain solutions, has supported the market growth over the last two years.<\/p>\n

\u201cWhile the country has been a cash-dominant society in the past, the global pandemic outbreak has forced consumers to quickly adopt digital payment methods,\u201d said the report.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE has become the fastest-growing e-commerce market in the world, a Statista report shows<\/p>\n","protected":false},"author":38,"featured_media":18399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1,4106],"tags":[3988,3966],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18686"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=18686"}],"version-history":[{"count":3,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18686\/revisions"}],"predecessor-version":[{"id":18689,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/18686\/revisions\/18689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/18399"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=18686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=18686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=18686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}