Balancing act between digital innovation and customer trust crucial in Middle East

Balancing act between digital innovation and customer trust crucial in Middle East

- Consumers in Middle East are often early adopters of new products and services—especially when they are offered by brands that share their values and do good.

- Businesses in region serve an increasingly young population who are eager to embrace digital experiences and online services—provided they feel safe and secure while doing so.

- Balancing innovation imperatives with trust drivers can be challenging, as companies may need to contend with increased risk.

Muscat, Oman: A new report from Harvard Business Review Analytic Services in association with Mastercard details the importance for businesses across the Middle East to balance digital innovation and customer trust. The study explores the current business landscape through the lens of an increasingly young population, filled with consumers who prioritize brands with shared values and digital experiences that make them feel safe and secure. It highlights trust as an important lever for customer loyalty, business sustainability, and innovation.

UNICEF estimates that half the population in MENA is 24 or younger. Their embrace of a digital world that is purpose-driven and built on connection bodes well for businesses in a region that prioritizes innovation. However, with economic activity increasing online, security and privacy are emerging as foundational not just for trust