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FINANCIAL NEWS
UAE eyes 95% growth in online retail sales over 5 years
26 Jun 2013
(MENAFN) A Euromonitor International study has showed that UAE plans to expand on online retail sales to hit 95% increase over 5 years where it will try to set off consumer confidence and excitement about ordering from the internet.
Research analyst at Euromonitor Ayman Ghanam, stated: “The internet, despite its comparatively low usage penetration, has already played a significant part in the Arab Spring and as a result the Middle East is expected to see massive growth.”
Services like online payment and online stores are snowballing across the Arabic region indicating a potential growth in online retail sales that is expected to reach 136%.
It’s worth mentioning that the electronic payment network, which charges merchants a percentage of the purchase price, said it will look to sign up between 20,000 and 25,000 merchants in the region.
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