Ranked 14th in the Kearney Global Retail Development Index
Kearney: The UAE leads the region in household spending on e-commerce
The Global Index of Retail Development issued by the global management consulting firm "Kearney", revealed that the UAE ranked 14th globally.
A statement issued by the company yesterday considered that this classification confirms the flexibility of the retail sector in the UAE, as a result of government reforms, and the speed in adopting digitization.
The company also revealed that the UAE topped the Middle East and North Africa countries in terms of household spending on e-commerce, with the average household spending in the country amounting to 2554 dollars (about 9,373 dirhams), which is equivalent to double the global average of 1156 dollars (about 4242 dirhams). And four times the average spending in the Middle East and North Africa of $629 (about 2308 dirhams).
The statement stated that the study of the index ranks 35 emerging countries, according to a set of 26 factors and four main variables, to identify growing, attractive and relatively risk-free markets.
The index also focuses on macro trends, highlighting the most important new developments in the market, rather than providing detailed information on market share that may be unimportant.
According to the company's statement, technology and experimental marketing are driving the growth of the retail sector in the UAE;
Retailers are adopting technologies such as artificial intelligence, the Internet of Things, and virtual reality to deliver a more holistic, multi-channel experience.
Credit card payments have outperformed cash payments, and retailers have accelerated the adoption of digital payment technologies, including mobile wallets and smartphone payment applications, which has contributed to enhancing the sector's performance further.
The partner in consumer practices and the retail sector at Kearney Middle East, Mohamed Didi, said that the ease of doing business in the country, the continuous support that small and emerging companies receive, as well as carefully designed stimulating factors, encourage the attraction of foreign direct investment and stimulate innovation in the sector. .
He added, "We have witnessed major retailers and brands worldwide entering the market or expanding their presence over the past decade, in addition to high levels of consumer spending," noting that the UAE economy ranks among the advanced economies, as it adopted policies that accelerated the maturity of the retail market. Which will not soon be included in the list of emerging markets in the rankings of the global index of retail development.
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