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United Arab Emirates Leads Region in Online Retail Sales, according to a new report by yStats.com
A recently published report from Hamburg-based yStats.com shows that despite having a small population of just over 9 million, B2C E-Commerce sales volume in the UAE is higher than in other countries of the Middle East region. The report, titled “UAE B2C E-Commerce Market 2016”, includes information about characteristics and trends regarding online shopping in the UAE.
The UAE is famous for its well established shopping malls, but B2C E-Commerce is also growing fast, according to the yStats.com report. Factors influencing the rapid growth of online shopping are the high percentage of the population connected to the internet, and increasing smartphone usage, along with growing consumer demand. Smartphone owners in the UAE use their hand held devices more than computers to connect to the Internet. Because of this, the share of B2C E-Commerce completed on mobile devices doubled between 2013 and 2015.
The new yStats.com report also points out that online shoppers in the UAE are unique in the high portion who shop exclusively outside their country. Nevertheless, the leading shopping website in the UAE is a local company. This company, Souq.com, recently received healthy investment which will permit it to expand its online shopping presence. Souq.com and a handful of other leading online retailers have dominated B2C E-Commerce in recent years, but market share of the leading few is decreasing as competition in the online market increases with the entry and growth of new players.
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