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Pandemic triggered e-commerce sandhya@khaleejtimes.com Filed on January 23, 2021
The growth of the GCC e-commerce sector will be accelerated by the effects of Covid and reach $50 billion (Dh183.5 billion) by 2025. AFP
Business activities happen on apps, services are delivered to customers’ doorsteps.
The robust growth of the e-commerce industry in 2020 accelerated the digital transformation, both for consumers and e-commerce industry players, and ‘new normal’ became the life-style for most consumers. A rise in e-commerce startups too was witnessed as more and more people started adopting contactless payment options. The trend certainly gave a big boost to fintech and e-commerce across key sectors in the UAE economy. The spurt in players led to a competitive market which will throw a challenge to every e-commerce player to retain their consumers, your competitor is just a click away!
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Tapping opportunities in Fintech Filed on January 18, 2021
With global lockdowns, work from home arrangements, and fear of infection, most commercial activities have moved online. The foundation for this digitisation is a quick, reliable and secure online payments infrastructure.
With Covid-19 confining people indoors this year, e-commerce and digital payments portals have seen a vast surge in growth, globally. More people are using smartphones, e-commerce, digital wallets and mobile and QR-code payments to avoid contact with others. Many businesses were also forced to shift online from a traditional brick and mortar setup.
There is untapped e-commerce potential in the region, as Forbes Middle East and Marmore MENA Intelligence revealed. Only an estimated two per cent of the overall retail sales are from online sales in the Middle East versus 15 per cent in developed markets.