UAE online shopping sites cannot keep offering discounts forever: Dharmin Ved of 6thstreet

uae discounts online shopping sites
UAE
  • Date: 01-Jul-2021
  • Source: Gulf News
  • Sector: Retail
  • Country: UAE
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UAE online shopping sites cannot keep offering discounts forever: Dharmin Ved of 6thstreet

Dubai: More shoppers in the UAE are looking to online for their daily needs or their indulgences – and that has been so since March of 2020 when the world and life changed forever. But for all those shopping portals in the UAE and the Gulf that recorded new highs every month or so, Dharmin Ved has a word of caution. The CEO of 6thstreet - the site for fashion to footwear and a lot more besides – believes what worked in 2020 need not come up with the same results going forward. And he makes one succinct point to etailers – check your pricing. "The rest of the online competition is constantly jostling on discounts," said Ved, who was one of the founding members of the shopping site when it launched in 2015 and then became its CEO. "Because when you are on constant discounts, it becomes very difficult to get back to full pricing of what you are selling. Long-term sustainable growth [for the business] depends on the price that it's being given at. "If sites keep giving discounts all the time, the day you actually start to increase prices, a sizeable section of your

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