With Fruugo, we are publishing a series of country marketplaces briefs and today take a look at United Arab Emirates:
UAE is the fastest growing digital economy in the MENA region and it also has the highest spend per shopper. Annual growth is close to 30%. The historical reliance on cash payments is quickly going away as more shoppers adopt digital payment methods like credit cards and eWallets like Google Pay or Apple Pay. Most popular categories include Electronics, Fashion and Health & Beauty.
White Friday is the Middle East version of Black Friday. Introduced by e-commerce site souq.com (now a part of Amazon) in 2014, it adapted Black Friday to the local culture and renamed it White Friday. It takes place at the same time as its Western equivalent at the end of November. Another important shopping period is the month of Ramadan and Eid.
If you are considering expanding your business internationally, there are a number of market factors to consider. Use the statistics here as well as the links provided below to help inform your decision. Fruugo provides retailers with a risk-free way of selling their products in over 40 countries around the globe.
Population: 9.8 million
Currency: UAE dirham (AED)
GDP: $421,142 million
Purchasing Power Factor: 0.6
De minimis values: Duties: 1,000 AED (about 86 EUR) Tax: 0
Logistics rating: 3.96, 11th globally
Internet access: 98%
Online shoppers: 62%
Mobile Internet users: 74%
Preferred payment methods: Credit card, Cash on delivery, PayPal
Google share of search: 96.7%
Noon: Noon was launched in 2017. They have a strategic partnership with eBay to give MENA shoppers access to a selection of eBay products and they also work directly with sellers.
Namshi: Originally founded by Global Fashion Group, Namshi is now owned by the local Emaar Malls. The focus is on Fashion and Beauty.