United Arab Emirates Social Commerce Market Databook 2022:

Dublin, June 16, 2022 (GLOBE NEWSWIRE) – The “UAE Social Trade Market Intelligence Data Book and Future Growth Dynamics: Over 50 KPIs on Social Trade Trends by End-Use Sectors, Key Operating Performance Indicators, Retail Product Dynamics and Consumer Demographics – 1st Quarter 2022 Update “added to report ResearchAndMarkets.com offering.

The social trade industry in the United Arab Emirates is expected to grow by 26.0% annually to reach $ 801.9 million in 2022.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 24.2% during 2022-2028. The country’s social trade GMV will rise from $ 801.9 million in 2022 to $ 2,898.7 million in 2028.

Smartphone and internet penetration rates are at an all-time high in the UAE. The country has one of the highest adoption rates in the world, with 99% of the total population using one or another social media platform. This is a clear indication of the growing amount of time consumers spend online and their association with various social networking sites. Following this shift in social media consumption and consumer behavior, a growing number of brands in the UAE are focusing more on online shopping and perfect shopping experiences.

Although the popularity of e-commerce platforms is not new in the country, the number of consumers shopping online has increased significantly during the global pandemic. In addition to the growth of traditional e-commerce channels, the country has also experienced an increase in the number of consumers who have resorted to buying products on social media platforms.

As the social commerce market continues to mature over the next four or eight quarters, brands are looking for new ways to reach their target audience, and this also includes social commerce. In the UAE, retailers are adopting unique and ready-to-use social commerce strategies, including asking consumers to vote for their favorite products, TikTok and Reels trend videos, custom product options, user-generated content, and shopping on application. . In addition to this, innovative startups, through their strong business models, are also changing the landscape of social commerce in the country.

The trend of selling and buying used cars through social trade is on the rise in the UAE

In recent years, the used car market has grown significantly in the UAE. This growing interest in used cars among consumers has led to another trend in the country. According to a survey of the global social commerce market in the first quarter of 2022, more than 68% of consumers in the country prefer to make purchases related to used cars through social networking platforms such as Facebook, Instagram and TikTok. This growing trend of buying used cars through social networking sites has supported the growth of the social commerce industry to some extent in the UAE and will continue to drive market growth from the short and medium term perspective in the country.

Startups are launching video shopping platforms for social commerce shoppers in the UAE

Amid the growing demand from retailers to provide their customers with an innovative online shopping experience in the UAE, startups are launching innovative video shopping platforms.

  • In December 2021, ShopperON launched a video shopping platform in the UAE, which allows people to host live broadcasts and stores to create and host their own channels on the platform. In addition, ShopperON is an interactive marketplace where online shoppers can ask questions and the host of the live broadcast can answer questions with products that can be purchased on-screen.
  • The platform allows consumers to add the product that can be purchased to their cart without leaving live broadcasts. In addition, the platform also offers retailers a real-time control panel, which allows them to track their sales in real time. The platform can also be used by influencers to interact with their followers and earn money through commissions in the UAE.

UAE-based social and conversational trading platforms are raising funds to expand into other markets

The popularity of social commerce is growing throughout the GCC region. Amid this growing social trade market, UAE-based social and conversational trading platforms are looking to expand their presence in the region to gain a growing market share and, as a result, are increasing funding rounds to support their goals.

Scope of the report

The report provides an in-depth, data-driven analysis of social trade in the UAE. The following is a summary of the main market segments:

UAE Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028

Market size of the UAE social trade industry and dynamics of future growth by key performance indicators,

United Arab Emirates Social Trade Industry Market Size and Forecast by Retail Product Categories, 2019-2028

  • Clothes and shoes
  • Beauty and personal care
  • Food and groceries
  • Appliances and Electronics
  • Home improvement
  • Others

United Arab Emirates Social Trade Industry Market Size and Forecast by End-Use Segment, 2019-2028

United Arab Emirates Social Trade Industry Market Size and Forecast by End-Use Device, 2019-2028

Market size and forecast of the UAE industry by location, 2019-2028

Market size and forecast of the UAE industry by location, 2019-2028

  • Level 1 cities
  • Level 2 cities
  • Level 3 cities

Market size and forecast of the UAE social trade industry by payment method, 2019-2028

  • Credit card
  • Debit card
  • Bank transfer
  • Prepaid Card
  • Digital and mobile wallet
  • Other Digital Payments
  • Cash

United Arab Emirates Social Trade Industry Market Size and Forecast by Demographic and Consumer Behavior, 2021

  • By Age
  • By Income Level
  • By gender

For more information on this report, visit https://www.researchandmarkets.com/r/evsdun

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source of international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, major companies, new products and the latest trends.


Source link

Leave a Comment

Your email address will not be published.