The beginning of the e-commerce industry, its highs & lows and how will it shape its expansion in the years to follow.
ABU DHABI, THE UNITED ARAB EMIRATES, July 22, 2019 /EINPresswire.com/ — E-commerce in the Middle East region has taken a substantial increase, thanks to the ever-growing ecstasy of shopping online and the accessibility to grab discounts on almost every online product.
Time flies and (with time) so does the phases of the e-commerce industry. First came the e-commerce, then came the need to fill in branded & renowned products, followed by the shipping of products online, and finally the desire to save more with coupons and discounts. These phases have shaped e-commerce to what it is called an online E-commerce.
The 2016 e-commerce business figures of 18.67 billion dollars in the Middle East have reached an astounding value of 28.6 billion dollar in 2018 and are expected to grow at a double-digit rate in the coming years. Middle East’s e-commerce is all set to reach its highest potential opening a doorway of opportunities for market players to penetrate.
With 75% of internet users in the region, the percentage of population searching for coupons before making a purchase has hit an all-time high. The numbers have grown to 50% users who are looking to save money through sales and promotions. This has led more and more people to digitize and use online shopping as a platform to gain more discounts. Now, e-commerce could break-in the mid-segment population which could not shop online because of the high product prices and shipping costs. Websites like Asaan, Rezeem, Picodi have started publishing exclusive 6thstreet coupons, Mumzworld coupon codes & travel deals like Rehlat coupons for a better consumer-oriented experience.
Looking at the current trends and user intent, this new strategy of driving potential consumers to your yard by offering them what they need remarked new progress in the e-commerce industry. People from all walks of life started getting attracted to online shopping. Coupons are being circulated through publishers and cash on delivery payment method is offered to consumers for ease in purchasing. More than 70% users today preferred Cash On Delivery which also has higher returns rate.
These returns mainly occur during the sale periods, where e-commerce websites make the most of their profit margins. Also, the ratio of returned product online is 30% as compared to 8.9% in brick and mortar stores. The major reasons with the product being returned when purchased online are subject to reasons like a defect in the product, different looking or a fake, and wrong shipment etc.
These reasons result in a major blow to websites trust and people are bound to stay away from it. Whereas offline stores will continue to sell with ease as everything is transparent with nothing being hidden. Scenario, nowadays is that the merchant itself is offering coupons to the user who wants to shop online. Coupons are made available in the form of banners on the merchant’s website and through subscribed newsletters. It creates a loyal consumer base with people laying their trust on the merchant website as they find it authentic, righteous, and helping.
Trust value can only be built on the basis of originality, offering only what is right to the consumer by not misleading them into buying something.
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Source: EIN Presswire