United Arab Emirates Social Commerce Intelligence Report 2024-2029 Featuring Facebook, Instagram, The Luxury Closet, Zbooni, SellAnyCar.com, and Floranow

News provided by

Mar 25, 2024, 10:45 ET

DUBLIN, March 25, 2024 /PRNewswire/ -- The "United Arab Emirates Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

Social commerce industry in United Arab Emirates is expected to grow by 22.7% on annual basis to reach US$1.22 billion in 2024.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 18.5% during 2024-2029. The social commerce GMV in the country will increase from US$999.73 million in 2023 to reach US$2.86 billion by 2029.

Emirati social commerce is expected to grow at a rapid rate over the medium term. An increasing number of young generation shoppers are flocking to social channels for product inspiration and purchases. This trend is projected to continue further in 2024, resulting in a high-growth period for the social commerce market. In the UAE, young shoppers are also using social channels for high-end purchases.

Augmented reality has played a crucial role in driving online shopping experiences for buyers. The virtual try-on feature, for instance, gained widespread popularity among shoppers in the United Arab Emirates. Going forward, the publisher expects innovation to gain further momentum in the Emirati market. Overall, the publisher maintains a robust growth outlook for the social commerce industry in the UAE over the next three to four years.

Social shopping is gaining strong momentum among shoppers in the United Arab Emirates

The time spent on social media is rising at a rapid rate in the Emirati nation. According to the RetailX Middle East E-commerce region 2023 report, people are spending nearly three hours on social media platforms in the UAE. This time is spent researching products, with 79% of the people looking for brands or things to purchase on social platforms. Furthermore, 59% of the people have stated that they bought products on social channels over the last 12 months.

In another report, from Snap Inc. and Havas Media Network, 54% of the consumers stated that they are discovering new products and brands through social channels in the United Arab Emirates. The report also revealed that 50% used social media platforms for product recommendations and reviews.

Snap Inc. also revealed that over half of Snapchat users send messages and pictures of products to their friends while they are shopping every day. This presents a huge opportunity for brands to connect with the preferences and interests of the younger generation. Going forward, the market is projected to report strong growth, as the social buying trend is poised to accelerate across the United Arab Emirates.

Young shoppers are making high-end purchases through social media platforms in the Emirates

While clothing is one of the most popular shopping categories among social commerce buyers, young generation consumers are also into buying high-end products in the Emirates, according to Snap Inc.

The report from Snap Inc. revealed that 45% of young shoppers are using social media platforms in the discovery phase for luxury buys. Furthermore, 84% are completing the purchase through social channels. This highlights a strong trend in the growing social commerce market in the Emirates. Luxury brands can tap into social platforms to reach young generation shoppers and accelerate their revenue growth in the UAE.

Social platforms have added features like augmented reality to entice luxury shoppers in the region. The virtual try-on feature, for instance, has been crucial for 81% of luxury shoppers in the UAE. For social media platforms looking to tap into the growing market, offering such innovative features can aid growth over the medium term.

Social commerce platforms have reported strong revenue growth in the United Arab Emirates

Amid the growing trend of social buying in the Emirates, platforms are enjoying a strong growth period in the country, registering significant revenue increases during the first six months of 2023.

SleekFlow, a leading software platform for social commerce in the Asia-Pacific region, reported an impressive fivefold increase in revenue in the UAE during the first half of 2023. Not only has the company done well in the Middle East, but it is projected that around 20% of the new revenue over the next two years will come from the UAE. The significant growth in the UAE is attributed to their strategic collaboration with L'Occitane ME's Accelerator Program, which is powered by Chalhoub Group's The Greenhouse. This partnership officially brought SleekFlow's versatile social commerce platform to the UAE, making a significant impact on the retail scene in the region.

The growth achieved by SleekFlow in the United Arab Emirates market is a testament to the growing market. Going forward, the publisher expects more regional and global platforms to enter the market over the next three to four years.

Scope

United Arab Emirates Ecommerce Key Players

Facebook
Instagram
The Luxury Closet
Zbooni
SellAnyCar.com
Floranow

United Arab Emirates Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

United Arab Emirates Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

United Arab Emirates Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2020-2029

Clothing & Footwear
Beauty and Personal Care
Food & Grocery
Appliances and Electronics
Home Improvement
Travel
Hospitality

United Arab Emirates Social Commerce Industry Market Size and Forecast by End Use Consumer Segment, 2020-2029

United Arab Emirates Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029

Mobile
Desktop

United Arab Emirates Social Commerce Industry Market Size and Forecast by Location, 2020-2029

Domestic
Cross Border

United Arab Emirates Social Commerce Industry Market Size and Forecast by Location, 2020-2029

Tier-1 Cities
Tier-2 Cities
Tier-3 Cities

United Arab Emirates Social Commerce Industry Market Size and Forecast by Payment Method, 2020-2029

Credit Card
Debit Card
Bank Transfer
Prepaid Card
Digital & Mobile Wallet
Other Digital Payment
Cash

United Arab Emirates Social Commerce Industry Market Size and Forecast by Platforms

Video Commerce
Social Network-Led Commerce
Social Reselling
Group Buying
Product Review Platforms

United Arab Emirates Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2023

By Age
By Income Level
By Gender

For more information about this report visit https://www.researchandmarkets.com/r/qpywe

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets