While e-Commerce in the Middle East is not as complex as the markets in the USA and other European countries, the region is still experiencing an undeniable growth. With the booming GDP contribution in the economies, tech-savvy millennials, youth and an increase in internet exposure, e-Commerce in the Middle East is on its way to reaching success.
Once worth US$ 8.3 million in 2017, the e-Commerce market is now expected to reach US$ 28.5 billion by 2022. The region has experienced massive growth in terms of e-Commerce and the United Arab Emirates is currently the most advanced e-commerce market in the region with a penetration rate of 4.2%, according to the Gulf Co-operation Council (GCC). Being on the verge of pivotal shift, the retail industry in MENA as e-Commerce is becoming a reality. It is reinventing customer’s path to purchase, forming new customers, experiences and creating growth opportunities for large and small retailers and as well as for new joiners of e-Commerce.
Like other sectors, e-Commerce is no exception when it comes to competition. Many local and international online stores drive more than billions of customers annually. Since consumers like exploring varieties, comparing prices and surveying authenticity of products, no website is left out in terms of being shopped from. Consumers are mostly inclined towards the activity of ‘saving’ rather than spending online, so they prefer websites that offer a great quality of products at convenient prices. Noon is the best example of providing the best services along with budget-friendly prices and with the application of Noon coupon code, the shoppers can avail discounts on their purchases.
Consumer Behavior in the Middle East
Consumer behaviour regarding e-Commerce is also significantly growing and is receiving a positive response for the past 5-8 years. With great services from online platforms like Souq, Noon, Amazon.ae, etc. the consumers, now do not hesitate while shopping online. According to portal Statista’s survey, e-Commerce user infiltration in the MENA region stood 54.6% in 2018 and is expected to reach 58.8% by 2022. Another survey also states that there is a significant number of women in the Middle East who prefer to shop online rather than conventional shopping. These observations relating to consumer behavior not only suggest that e-Commerce is being trusted by a large number of people but it’s on its way to becoming a number one priority for all consumers.
Coming to consideration of consumer psychology, it is a well aware fact that every individual who shops intend to save while shopping as it is every buyer's priority. Along with seasonal sales and discounts, there also other ways the consumers can save smart while shopping:
Consumers are recommended to make a list before planning to shop from any website. Impulsive shopping has always proven to be not so beneficial for the shopper so, making a list and making up mind for what a shopper is looking for would make the process much easier.
Browsing, examining, and a detailed check throughout the website for what a consumer needs is important rather than going for options that are available on home page. A good scrutinized website will lead a potential buyer to get hold of a product of desirable price and quality.
Comparison is another important factor that contributes in saving. The consumer can compare prices and superiority of products from different sellers to settle at an option that will satisfy their purchase at a satisfactory price.
Signup for News Letters, E-mails
The easiest way to get informed about the latest discounts on the latest products, price drops, flash deals, etc. is to subscribe or sign-up to the newsletters of online comparison websites. These websites regularly keep track on the prices of popular products and notify the consumers where they can get the best price for different products.
Leaving items in the cart
One of the smartest way to get a hand on the best transaction is to leave the items in the cart. Leaving several items in the cart for a while may be another good idea as it enables the e-Commerce company to know the desired items by a customer. There are possibilities that the online store will offer some promotional codes and discounts on the products selected by the shopper.
Reaching out for best Deals
Grabbing deals and offers as soon they are launched is the smartest move any consumer can make as the deals and offers aid people to avail maximum reduction on their purchases. Keeping this condition in mind, hundreds of websites available in the Middle East aim to provide consumers with best-saving services and among all websites available, the topmost trusted platform is Rezeem. The website aids customers with not only regular and best deals but also with exclusive coupons that help the people to save extra on their purchases.
With all the facts observed above, e-commerce is building on the strong momentum for the past couple of years. The opportunities due to electronic commerce until now have been proven to be remarkable for businesses, investors, and consumers. The pace of growth, however, depending on consumer behavior and business tactics may vary, but there will surely come a time when people will prefer purchasing online over the conventional methods of shopping.