Why should you start an E-Commerce Business in UAE
2020 is called as the era for online shopping in the UAE. The UAE is rapidly striding e-commerce marketplace as people are adopting online shopping and electronic transactions more than their usual shopping experience.
In the UAE, now e-commerce signifies 4.2% of the retail profit and is predicted to grow by an average of 23% by 2022.
Online shopping used to be convenient and luxury, now – it’s a necessity.
With the start of the digital era, everything from our daily shopping to cash payments has shifted to online platforms, which are capable to provide all required services in a more easy and friendly manner as a retail store. To be with the present day’s trend, many retail stores are looking forward to shifting their business online.
Some readiness factors that offer the boost in the e-commerce industry in the UAE include:
- Soaring internet access and adoption of mobile wallets.
- Increased consumer dependence in e-commerce services.
- Improved expansion of cashless society and logistic infrastructure.
- Vendors’ willingness to shift to the electronic platforms.
- The increase in startups and tech-savvy customers in the country.
- The UAE government offers reinforcement of better transactions between businesses and consumers by enhancing cashless payment choices for different purchases and government services.
- Free Zone and the Mainland license’s choices according to the nature of online business. A mainland license offers the freedom to trade or sell your products and services straight to the local market whereas a free zone license required working with a local distributor. You have the option to consider the factors from which your business can profit more in terms of market contact and scalability.
Is it the Right Time to Start an E-Commerce Business?
The ongoing Coronavirus disease has turned the world we know upside down. Many countries are currently in some form of lockdown. That means people are stuck at home, and suddenly have a lot more time on their hands.
The pandemic has brought business, behavioral and technological changes all over the world. With no indication of the pandemic coming to a near end, e-commerce is emerging as the near and outlying future of all shopping experiences.
Currently, it is the right time to make a choice and plan on growing and diversifying your business by turning your brand into an online experience for your consumer.
In 2022, the predictive value of the e-commerce industry is projected to grow to $48.6 billion that helps in big retail expansion in the region. There is room for high growth in healthcare, beauty, food, clothes footwear, electronics, gadgets, toys, couriers, etc. services in the future.
Now, there is a great opportunity for new investors to enter into the marketplace and establish their eCommerce services in UAE.
Practical government guidelines are proving beneficial for growing a digital culture in the UAE.
Proactive schemes are eliminating many obstacles to make the UAE a cashless society.
Cashless payments and digital trades are among the top government priorities to drive economic future growth.
Furthermore, a digital linked paperless and cashless government determined towards cutting-edge technologies has become a big part of the well-groomed UAE initiative.
The e-commerce business is on a constant rise. Especially in UAE, the online industry has flourished considerably and in the coming years, it is predicted to add more revenue to the economy.
Consequently, if you are thinking to take a plunge in starting an e-commerce business in UAE, there is no need to think twice.
It’s a perfect time to launch. By preparing everything upfront, your e-commerce business will skyrocket.
Not sure how to start?
Contact PMC Solutions FZCO a professional business setup service provider in the UAE. With years of experience and a professional team, we offer valuable guidance and insights to foreign and local entrepreneurs to start a business in no time! Call us for more information!