UAE consumers depend 21% more on e-commerce – Report

UAE consumers depend 21% more on e-commerce – Report

UAE - Mubasher: The UAE consumers are increasing their e-commerce footprints, buying 21% year-on-year (YoY) more from online shops to top several markets such as the US and Canada, according to a report by Mastercard's latest “Recovery Insights: Commerce E-volution” report.

The report referred that an additional $900 billion has been spent on online shopping globally in 2020, attributed to the coronavirus (COVID-19) pandemic that makes consumers shift to online shopping due to the lockdown.

Last year, e-commerce has constituted roughly $1 of every $5 spent on retail, up from about $1 out of every $7 spent in 2019.

In its report, Mastercard expects that around  20%-30% of retail's global digital shift amid the COVID-19 pandemic in 2020 will be permanent.

Saudi Arabia's consumers are now purchasing 33% more from online stores.

"Consumers worldwide are making purchases at more websites and online marketplaces across sectors, with residents in countries like Italy and Saudi Arabia buying from 33% more websites, on average, followed closely by Russia and the UK. This increase includes e-commerce sites based in other countries," the report reads.