9 in 10 consumers in MENA bought products online this year: Survey

  • Date: 04-Dec-2022
  • Source: Zawya
  • Sector:Retail
  • Country:UAE
  • Who else needs to know?

9 in 10 consumers in MENA bought products online this year: Survey

Ecommerce in the Middle East and North Africa (Mena) is growing at an unprecedented pace, with a recent report showing that 91% of consumers in the region bought products online in the past year.

The report, released by global payments solution provider Checkout.com, shows that one in five consumers across Mena purchased retail products online more frequently than last year, with 33 per cent shopping more frequently for fashion and clothing online.

This points to a rapidly developing digital ecosystem that allows government agencies, established companies and start-ups to flourish, observed Paul Carey, executive vice president of cards & payments, Al-Futtaim Group. “This is particularly evident in payments, where governments have set up regulatory sandbox infrastructure and made it easier for businesses in the region with more flexible visa options and commercial licensing,” he added.

Rapid adoption of fintech has been another pillar of the digital economy. The survey shows that remittance apps remain the most widely utilised form of fintech in Mena, but as other products increase, so does adoption. The report found that 82 per cent of consumers in Mena use some form of fintech app in 2022, up from 76 per cent in 2021. Innovation has been underpinned by solutions

Follow the conversation