{"id":24227,"date":"2023-09-26T13:39:05","date_gmt":"2023-09-26T13:39:05","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=24227"},"modified":"2023-10-02T17:01:10","modified_gmt":"2023-10-02T17:01:10","slug":"redseer","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2023\/09\/26\/redseer\/","title":{"rendered":"UAE flourishing digital economy attracts global brands, RedSeer reveals"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-preserver-spaces=\"true\">The <a href=\"https:\/\/u.ae\/en\/about-the-uae\/economy\/digital-economy\" target=\"_blank\" rel=\"noopener\">UAE<\/a> digital sector, projected to grow at a compound annual growth rate of over 16 per cent for the next six years, is drawing international brands to the Mena region, according to the latest report by <a href=\"https:\/\/www.meretailnews.com\/2023\/08\/23\/redseer-mena-consumers\/\">RedSeer<\/a>\u00a0research.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The $1.5 trillion Mena consumer spending market, driven by factors including strong demand, infrastructure and accessible funding, holds an immense appeal for overseas companies.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cCompanies and brands can commence the ride on the journey starting at $100 billion now to unlock the potential of an over $500 billion digital economy in the Mena region by 2030,\u201d the study said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the report cautioned companies and investors that the UAE market needs a customised approach to conquer: \u201cUnveiling this paradigm holds the key,\u201d RedSeer said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The UAE, powering around 30 per cent of the $111 billion Mena digital economy, makes the market extremely lucrative for e-commerce and several other burgeoning sectors.<\/span><\/p>\n<h3><span data-preserver-spaces=\"true\">UAE digital economy is changing<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">RedSeer noted that the UAE market is currently seeing significant transitions unfolding.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe shift from [digital] products to [digital] services, evolution from B2C to B2B platforms, and finally, the emergence of Gen Z as a dominant force is among the significant transitions unfolding in the UAE market currently.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cBy 2030, Gen Z is expected to contribute a substantial 30 per cent of e-commerce spending,\u201d the study projected, adding that consequently, it is imperative to strategise and tailor solutions to cater to this emerging cohort.&#8221;<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While established sectors like online retail remain crucial, emerging sectors such as fintech smart logistics are poised for rapid growth:<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIn the coming years, B2B platforms in areas like agritech, SaaS and logistics will gain momentum\u201d, the study projected.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cHigh level of digital enabler penetration and online time spent will help several e-commerce sectors including online retail, travel and food delivery to scale up rapidly in Mena over the coming years,\u201d said RedSeer.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0In the coming years, the UAE\u2019s digital sector will catapult the growth of sectors including B2B, the report predicts.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe potential for digitising the B2B value chain, encompassing both upstream and downstream segments, is also significant. Besides, the manufacturing sector also is expected to thrive, aligning with the government\u2019s push to amplify manufacturing output in the nation.&#8221; \u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UAE digital sector is proving irresistible to international brands, according to RedSeer\u00a0research<\/p>\n","protected":false},"author":40,"featured_media":17457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[4745,3966],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/24227"}],"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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=24227"}],"version-history":[{"count":10,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/24227\/revisions"}],"predecessor-version":[{"id":24298,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/24227\/revisions\/24298"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17457"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=24227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=24227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=24227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}