Ranked 14th in the Kearney Global Retail Development Index

The UAE leads the region in household spending on e-commerce

Credit card payments have outperformed cash payments in the UAE market.

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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 countries in the Middle East and North Africa 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 1,156 dollars (about 4,242 dirhams). ), and four times the average spending in the Middle East and North Africa of $629 (about 2308 dirhams).

According to a statement issued yesterday, the index study ranks 35 emerging countries, according to a group of 26 factors and four main variables, to identify growing, attractive and relatively risk-free markets.

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 also overtaken cash, and retailers have been quick to adopt digital payment technologies.

"We have seen major retailers and brands enter the market or expand their presence over the past decade, in addition to high levels of consumer spending," said Mohamed Didi, partner in consumer practices and the retail sector at Kearney Middle East. Developed economies, as they adopted policies that accelerated the maturity of the retail market, which will soon not be included in the list of emerging markets in the rankings of the Global Index of Retail Development.

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