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UAE consumer demand for e-commerce rise by 21% - Report

UAE consumer demand for e-commerce rise by 21% - Report
An additional $900 billion were spent on online shopping globally

UAE - Mubasher: The UAE consumers are increasing their e-commerce footprints, registering a 21% annual growth in purchases from online shops to top several global markets such as the US and Canada, according to Mastercard’s “Recovery Insights: Commerce E-volution” report.

The report referred that an additional $900 billion were spent on online shopping globally in 2020, attributed to the coronavirus (COVID-19) pandemic that makes consumers shift to online shopping due to the lockdown.

Last year, e-commerce has constituted roughly $1 of every $5 spent on retail, up from about $1 out of every $7 spent in 2019.

In its report, Mastercard expects that around  20%-30% of retail's global digital shift amid the COVID-19 pandemic in 2020 will be permanent.

Saudi Arabia's consumers are now purchasing 33% more from online stores.

"Consumers worldwide are making purchases at more websites and online marketplaces across sectors, with residents in countries like Italy and Saudi Arabia buying from 33% more websites, on average, followed closely by Russia and the UK. This increase includes e-commerce sites based in other countries," the report reads.