RIYADH: E-commerce in the UAE is expected to reach $9.2 billion by 2026, while its share of total retail sales is expected to reach 12.6% in the same year, according to the latest Chamber of Commerce analysis from Dubai.
The analysis, which used data from Euromonitor, shows e-commerce sales in the UAE saw remarkable growth in 2021, reaching $4.8 billion in the year, up from $2.6 billion. billion in 2019, the WAM news agency reported.
According to the report, the sale of mobile gadgets like smartphones and tablets accounted for the majority of transactions in 2021, totaling $2.6 billion, or 44% of the total e-commerce market value.
The research report further notes that mobile retail sales are expected to grow at a compound annual growth rate of 15.6% over the period 2022-2026, reaching $4.6 billion.
The analysis showed that more than a third of consumers in the UAE use their smartphones to purchase products or services at least once a week, which is above the global average.
The study further noted that the availability of several apps that help consumers compare prices has driven the growth of online shopping in the country.
The report pointed out that 73% of shoppers in the UAE preferred local retail websites, while foreign websites only received a 27% share.
The market share of foreign e-commerce platforms is expected to increase by 19.2% between 2022 and 2026, representing a 34% gain in total retail share.
The report also pointed out that improving and modernizing payment systems and services was a crucial factor that increased the rate of online shopping in the UAE.
In 2021, consumer electronics, which includes smartphones, phone accessories, computer accessories, tablets, computers and televisions, accounted for 34% of the e-commerce sector, followed by clothing and footwear at 31%, food and beverages at 12%, media products at 8%, personal accessories at 5.8% and consumer devices at 3.3%.