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Next-generation UAE consumers prefer online purchasing: Survey

IFM_Online Purchasing
Around 50% said that social media recommendations and product evaluations had a significant impact on their purchasing decisions

A recent study by Snap Inc., Havas Media Network, and Dynata found that 48% of Gen Z and Millennial consumers would be open to purchasing goods or services through online platforms in the future.

The study also found that the next generation of consumers across several countries, including the UAE, would prefer social commerce as a conventional way of payment over traditional methods.

According to a poll titled ‘The Next Gen Social Commercial Playbook,’ 49% of the surveyed social media users in the United Arab Emirates involved their friends in the purchasing process by uploading photographs and talking about potential product purchases.

In addition, social media proved particularly helpful for lesser-known firms in the nation, with 54% of respondents saying they were able to find new goods and services with the aid of such online resources. A further 50% said that social media recommendations and product evaluations had a significant impact on their purchasing decisions.

Accenture’s Future of Shopping and Social Commerce research from the previous year now projects that social commerce sales will reach USD 492 billion globally this year. Deloitte Global estimates that the market for social commerce would exceed USD 1 trillion globally in 2023, which is a substantially higher figure.

According to Deloitte, the social commerce market is expanding more quickly than traditional e-commerce, with an estimated USD 5 billion social media users worldwide in 2023.

This booming market is further illuminated by a 2023 analysis by Global Payments, Commerce and Payments Trends, which reveals that 52% of enterprises worldwide intend to directly sell through social networks.

“Our research found that 64% of Gen Z and Millennials have made a purchase through social media in the past year – these younger audiences embrace social commerce, and with this report, we sought their input on how we can create a more meaningful and engaging social commerce journey,” stated Seema Patel, Global Managing Director, Mx Intelligence, Havas Media Network, Zawya reported.

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