By Staff writer
PwC research reveals that 29% of shoppers now online regularly amid 'ripe market full of opportunities'
More than a quarter (29 percent) of Middle East consumers now shop online every month, according to new research by PwC.
Its latest report said the figure represents a six percent increase since 2013, adding that the regional retail sector is "witnessing game-changing developments".
In the Middle East, PwC surveyed over 1,000 online shoppers across the UAE, Egypt and Saudi Arabia about their shopping behaviours and expectations.
Norma Taki, retail and consumer partner at PwC Middle East, said: “Our findings tell us that the face of Middle Eastern retail is indeed changing and it is a ripe market full of opportunities.
"The appetite for investing in online retail continues to grow with high profile acquisitions from heavyweight players such as Amazon and Souq.com and JadoPado.com, along with the anticipated launch of Noon which is due to have a big impact on the region.”
According to PwC, there are several reasons why Middle East consumers prefer to shop online, including lower prices (40 percent), product selection (31 percent), and convenience (17 percent).
PwC said the use of mobile as a shopping and purchasing device continues to surge in popularity, adding that online safety continues to be a concern with 62 percent of consumers worried about having their personal information hacked via their mobile device.
Taki added: “The disruption of online retail is revolutionising the way we shop in the region and therefore must feature heavily at the top of local retailers’ boardroom agendas.”For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.