UAE Online Sales Are Set to Exceed AED 100 Billion in 2023
- Publish date: Monday، 04 September 2023
Online purchases in the UAE are expected to cross the AED 100 billion mark in 2023, reaching AED 107.6 billion, with a year on year growth of 16 percent, according to the 2023 Financial Services Consumer Survey by GlobalData.
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Cards remain the most preferred mode of payment in 2023 due to the value-added benefits offered by them.
Alternative payment tools such as Apple Pay, PayPal and Google Pay, which are expected to account for 27.7 percent of e-payment transactions this year.
The UAE consumers' third and fourth most popular payment tools for online purchases are bank transfers and cash, respectively.
The e-commerce sector has gained massive popularity in the UAE in the post-pandemic period due to its ease, lower rates and the variety of goods available at a click of a button.
The survey revealed that 88 percent of UAE consumers reported having shopped online in the past six months.
GlobalData said the UAE's e-commerce market grew 18.5 percent in 2022 to reach AED 92.4 billion, as an increasing number of consumers shift from offline to online purchases.
