UAE Business: Mena’s digital economy is ‘evolving faster than ever’ – Gulf Digital News

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UAE
  • Date: 24-Nov-2022
  • Source: Gulf Digital…
  • Sector:Technology
  • Country:UAE
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UAE Business: Mena’s digital economy is ‘evolving faster than ever’ – Gulf Digital News

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Some 91% of consumers across Mena bought products online in the past year, with fashion and clothing making up 46% of all online purchases in the region. 

1 in 5 consumers across Mena purchase retail products online more frequently than last year, with 33% shopping more frequently for fashion and clothing online, said Checkout.com’s second phase of its Digital Transformation in Mena 2022 report. 

Remo Giovanni Abbondandolo, VP of Commercial, Mena at Checkout.com said: “If our nearly ten years in the region have taught us one thing, it is that it’s impossible to underestimate the potential, drive and dynamism which exists in this diverse and rapidly changing region. It will be increasingly important on the global stage.” 

Retail sector

The retail sector riding the digital wave 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. 

Food & beverage   

While the pandemic forced consumers to

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