E-commerce has transformed the way we buy things. Now you can make purchases with any device, and things can be delivered right where they are needed. Industries are transforming as a result of e-commerce.
As technology and digital skills have improved, the sector has become crucial for living in the 21st century. Now, the UAE has become the fastest-growing e-commerce market as global internet sales continue to grow phenomenally.
E-Commerce Market In The UAE On Track To Surpass $8 Billion By 2025
Over $4.9 trillion in retail e-commerce transactions were made worldwide in 2021. According to Statista, it will grow by 50% over the next four years, reaching over $7.4 trillion in 2025.
Statista data shows that since 2021, the UAE’s e-commerce expenditure as a proportion of GDP has climbed by 1.10%. Soon, e-commerce will represent almost 7.0% of all retail spending. E-commerce, without question, has a huge impact on the UAE’s economy. Also, it is easy for companies to adopt it because the UAE government is providing various opportunities, especially for startups. Also, the UAE is on track to surpass $8 billion in online sales by 2025.
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Top 10 Countries With The Fastest Growing E-Commerce Market
South Korea and Argentina are the world’s second and third fastest growing e-commerce markets, respectively, after the United Arab Emirates.
Countries Where Majority Of E-Commerce Market Sums Up On Mobile Devices
The Philippines stands first on Statista’s list of the top 10 countries using mobile devices to shop, with 70% of all e-commerce transactions happening on mobile devices. South Korea is ranked third with 66%, following China in the second place with 69%.
The #UAE is working to enhance its position as a hub for #digitaleconomy in the region and globally. Read about the UAE’s #DigitalEconomyStrategy.https://t.co/NSQsOVR3lt@uaeai_2031#UAE_portal
— الحكومة الرقمية لدولة الامارات (@uaedgov) September 28, 2022
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Lastly, customers will continue to create trends and rule the e-commerce world. Therefore businesses must always strive to surpass their expectations to remain relevant in the modern world.
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