21% Cumulative Annual Growth for Online Food Product Sales in the UAE

21% Cumulative Annual Growth for Online Food Product Sales in the UAE

Thursday, August 13, 2020

The trends of the world of electronic commerce are accelerating so rapidly around the world that they have become the backbone of global trade, especially of food and beverage products. The UAE Ministry of Economy predicts that the value of e-commerce will increase to more than 19.77 billion dollars in 2020.

 

Online sales of food and beverage in the UAE registered an active growth at an annual cumulative rate of about 21% between the years 2015 and 2018 according to a recent analysis by the Dubai Chamber of Commerce and Industry, the analysis also showed that the UAE will record increased growth in the amount of electronic shopping for the current year, as shopping markets observed unprecedented success by providing a shopping experience and multi-channel payment options, which contributes to enhancing e-commerce in general.

The results of a survey conducted by the Department of Economic Development in Dubai showed that 66% of the participants expressed their confidence in electronic shopping via the internet when 70% of those surveyed confirmed their confidence in the electronic payment mechanism.

The UAE is classified as one of the leading countries in the world in providing distinguished infrastructure in the communications and digital services sector, and the majority of its official and private institutions are adopting solutions to provide services, relying on technological solutions that have become available, whether through smartphones or other social media.

The increase of e-commerce is not new as a trading concept in the world it's a trade that has its strong structure through offering products through websites, commercial platforms, phones, and applications since the last millennia to achieve steady growth day after day.