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FINANCIAL NEWS
UAE to see 95% jump in online retail business by 2018
10 Feb 2013
(MENAFN) A recent study by Euromonitor International expected internet retail sales in the UAE to climb 95 percent by 2018, Arabian Business reported.
The research pointed out that consumers in the UAE are becoming more sophisticated and confident that online orders offer quality products, prompt home delivery and card security, which would boost the online retail business in the coming years.
Online retailers from the UAE have already started expanding elsewhere including Saudi Arabia, where forecasted growth over the next five years is 136 percent.
Ayman Ghanam, research analyst at Euromonitor said internet users in the Arab World are set to cross the 170 million line over the next three years, indicating a big jump in internet retailing in the region.
Looking ahead, Euromonitor market research indicates internet retailing in the region is expanding across other channels, with new products such as home care and DIY and gardening recently gaining their first significant presence in internet retailing.
Euromonitor also said it expects this to be followed by expansion into other Arab countries such as Egypt.
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