The "United Arab Emirates Conversational Commerce Market Intelligence and Future Growth Dynamics Databook - 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Off...
Autore: Business Wire
DUBLIN: The "United Arab Emirates Conversational Commerce Market Intelligence and Future Growth Dynamics Databook - 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application - Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering.
Conversational commerce industry in United Arab Emirates is expected to grow by 23.0% on annual basis to reach US$7.2 billion in 2023.
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 19.4% during 2022-2028. The conversational commerce transaction value in the country will increase from US$7.2 billion in 2023 to reach US$17.5 billion by 2028.
This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.
The conversational commerce industry is still in its early stages of development in the United Arab Emirates. However, the robust internet infrastructure coupled with the tech-savvy population is expected to accelerate the growth of the market from the short to medium-term perspective. To compete with the fast-growing online retail segment in the Emirates, offline retailers are also seeking to build an online presence through conversational commerce.
As more and more retailers, across industry verticals, enter the conversational commerce segment to drive customer engagement and sales, the publisher expects the competitive landscape to grow in the Emirati e-commerce industry. This will keep aiding the growth of the conversational commerce market in the United Arab Emirates from the short to medium-term perspective.
Mall of the Emirates brings conversational commerce for shoppers in partnership with WhatsApp
The United Arab Emirates online shopping industry has recorded strong growth over the last three years. Driven by the pandemic, the trend has continued even after the impact of Covid-19 diminished. Consequently, to compete with the growing e-commerce market, offline retailers are turning to conversational commerce in the Emirati nation.
In October 2022, Mall of the Emirates announced that it is allowing shoppers to purchase products from over 350 international and domestic brands entirely through WhatsApp. With conversational commerce, Mall of the Emirates is seeking to bridge the gap between physical stores and digital platforms.
From the short to medium-term perspective, more and more offline retailers and supermarkets are expected to leverage conversational commerce to drive their sales and revenue growth, amid the growing online shopping trends. Lulu Hypermarket has already launched an AI-powered customer experience on WhatsApp in March 2023.
Salem, an AI-powered assistant, will enable shoppers to order products for in-store collection, receive purchase receipts, and track orders. Furthermore, the retailer has also launched a loyalty program on WhatsApp.
As more brands introduce conversational commerce capabilities into their business model, the publisher expects the market to record strong growth over the next three to four years. This will also drive innovation in the fast-growing commerce category.
Emirates-based conversational commerce providers are recording strong growth in sales and revenue
With more brands turning to conversational commerce, providers are gained widespread traction for their tools and services in the United Arab Emirates. This is evident in the sales and volume growth.
Zbooni, one of the leading conversational commerce providers in the MENA region, announced that the firm had recorded strong growth during the 12-month period in 2022. The sales volume for the firm increased by an average of 76% in 2022. Notably, tens of thousands of businesses are using the conversational commerce tools offered by Zbooni.
According to the firm, Zbooni merchants experienced a 42% increase in transactions during the Black Friday event in 2022, compared to the same period in 2021. Furthermore, the firm revealed that November and December were the busiest months for Zbooni. In 2023, the firm is projected to record further growth as conversational commerce continues to grow in demand among merchants and shoppers.
As the market continues to grow, the publisher also expects foreign players to launch their conversational commerce tools and services in the United Arab Emirates market. This will accelerate the competitive landscape and innovation in the fast-growing commerce sector from the short to medium-term perspective.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $7.24 Billion |
| Forecasted Market Value (USD) by 2028 | $17.54 Billion |
| Compound Annual Growth Rate | 19.3% |
| Regions Covered | United Arab Emirates |
Scope
United Arab Emirates Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Chatbots
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Key Sectors
United Arab Emirates Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Organization Size
United Arab Emirates Total Spend on Conversational Commerce Market
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Spend on Application
United Arab Emirates Conversational Commerce Spend on Key Sectors
Reasons to buy
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Fonte: Business Wire