10 eCommerce market insights your business can’t afford to miss in 2017
When it comes to the eCommerce game, numbers speak much louder than any words. That’s why we compiled some key stats that matter to everyone working as a retailer, owns a retailing business, or even interested in eCommerce.
Online shopping in Middle East is growing and 72% of Middle East online consumers made their first online purchase within the past two years.
63% of ME consumers are willing to pay for same-day delivery.
53% of ME consumers prefer in-store shopping as they can “see, touch and try” the products.
62% of global vs 75% of ME consumers believe that their interactions with brands on social media result in them purchasing more from their favorite brands.
40% of Middle East consumers have concern about the security of online shopping.
85% of online consumers in Middle East would rather pay cash on delivery, while only 15% opt to use their credit or debit card.
26-35 year-old in Middle East make up at least 42% percent of online buyers.
Okay this is really good but how about things in Egypt?
That’s a pretty good question! As we dug deep into the latest report published by Payfort, we found some key stats that really captured our attention.
The total value of eCommerce purchases in Egypt jumped from $1.40bn in 2014 to $1.84bn in 2015
Payfort expects eCommerce purchases to skyrocket between 2015 to 2020 from $1.84bn to $7.30bn
23% of online buyers in Egypt are between the age of 36 -40 years old while 20% are between 26 to 35 years old.
The percentage of people who feel comfortable buying stuff on the internet (AKA Acceptance percentage) has increased from 47% in 2014 to 51% in 2015. Payfort even predicts this percentage will increase by almost 10% by the end of 2020.
As these figures very well suggest, retailers need to fully embrace digital commerce (AKA eCommerce) in order to thrive. Stores without an online presence are destined to disappear.
Today’s consumer owns several devices—smartphone, tablet, computer—and expects an online shopping experience that’s quick, easy, and, above all, user friendly.
To some businesses this might be a threat but to others it represents an opportunity. We are living in a digital age where brand & businesses have the total power and freedom to connect with their consumers directly without any limitations.
If you like this article, don’t forget to share it with whoever you know might be interested in this type of content, and most importantly don’t forget to follow Buzlin blog to get all the latest updates on everything attached to eCommerce.