Whether spending on government services or shopping, UAE shoppers turn to online

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Whether spending on government services or shopping, UAE shoppers turn to online

UAE consumers signs off on purchases going digital than at PoS on a 2:1 basis

Published: June 10, 2022 18:45 Gulf News Report

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Stock Credit card payment — In the UAE, the spread of card-based and online spending is taking root across age groups, demographics, and, these days, even among the more budget-conscious consumers. Image Credit: Shutterstock

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PAKISTANI IT SECTOR WORKER — In fact, higher growth is being driven by cardholders with low- to mid-value monthly spends, according to Network International, the payments processing company. Image Credit: File

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credit debit card generic — And in a sign that shoppers are also turning conscious about processing charges and interest on balance payments, there is far greater usage of debit cards than spending through credit. Image Credit: Shutterstock

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190126 supermarkets — Daily/weekly spending using cards has become the norm, of course, hastened by consumer spending changes brought on from the pandemic phase. Supermarkets in the UAE had a near double-digit jump in average card spending through ecommerce while actual point-of-sale spending – that is, at physical store locations – stuck to the same levels. Image Credit: Abdul Rahman/Gulf News

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F&B industry — What this means is that along with F&B orders, a greater portion of the UAE consumer’s day-to-day needs are met through online channels, whether it be groceries or pharmacy purchases. Image Credit: Pixabay

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Paying your bills online can protect you from having your cheque being lost in the post or not arriving on time. — Ecommerce spending in the UAE touched a growth rate of double those at point-sale in the first three months. The trend was also noticeable in how residents used online spending means to pay for government services, which was followed spending at restaurants, supermarkets and convenience stores. Image Credit: Stock photo

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Payfort e-commerce online digital payments UAE dubai — These four verticals accounted for more than 45 per cent of the total spend during the first quarter. “It is evident that the growth in spending is coming not just from buyers shifting from physical outlets to online shopping, but rather from buyers shifting more of their spending from cash to digital,” said Ian Jiggens, Group Head, Advisory and Information Services, Network International. Image Credit: iStock

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Relocating-cancelling-connections-credit-payment13 — “Digital payments are at the forefront of some of the most interesting applications of new technologies,” Jigens added. “And merchants need to prioritise both the tools and the use of data to help them continue adapting to changing market dynamics.” Image Credit: Supplied

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INFLATION — As inflation bites and interest rates keep gaining, expect consumers to turn more circumspect on their spending ways. Whether it’s online or offline, retailers who can offer the real prospect of cost savings will win. Image Credit: Shutterstock

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Stock - Cashback — Much like the recent Ramadan and Eid promotions, cashback-linked offers too will gain greater traction at a time when cost consciousness holds sway. All through online will keep growing… Image Credit: Shutterstock

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