UAE Social Commerce Market Report 2022: Social Commerce GMV Forecast to Increase from $801.9 Million in 2022 to Reach $2898.7 Million by 2028 – QNT Press Release


DUBLIN, June 21, 2022 /PRNewswire/ — The “United Arab Emirates Social Commerce Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics 2022” report has been added to ResearchAndMarkets.com’s offering.

The social commerce industry in United Arab Emirates is expected to grow by 26% on annual basis to reach US$801.9 million in 2022.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 24.2% during 2022-2028. The social commerce GMV in the country will increase from US$801.9 million in 2022 to reach US$2898.7 million by 2028.

Smartphone and internet penetration rates are at an all-time high in the UAE. The country has one of the highest adoption rates globally, with 99% of the total population using one or the other social media platform. This is a clear indication of the increasing amount of time spent by consumers online and their association with various social networking sites. Following this shift in social media consumption and consumer behavior, an increasing number of brands in the UAE are focusing more on online offerings and seamless shopping experiences.

While the popularity of e-commerce platforms is not new in the country, the number of consumers shopping online surged significantly during the global pandemic. Apart from the growth in the traditional e-commerce channels, the country also experienced an increase in the number of consumers who turned to buy products on social networking platforms.

As the social commerce market continues to mature over the next four to eight quarters, brands are seeking new ways to reach their targeted audience, and this also includes social commerce. In …

Full story available on Benzinga.com



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