Rising Trends of Online Trading in Dubai
The advent of e-commerce and electronic trading trends are increasing more and more among a large number of customers, creating competition among the traders in great Dubai. Rising from the hand of these customers, an increase in the number of market participants, particularly in UAE. The UAE has evolved as a prominent regional hub, providing a vibrant economy for the buyers as well as the sellers. The growing number of consumers opting for online trade and investment on a part-time basis has given rise to a significant amount of e-businesses and e-commerce companies in the UAE. The e-commerce market in the UAE has the presence of a large number of startups and start-ups with a variety of benefits for consumers. According to analysts, e-commerce is growing at an encouraging rate in the UAE with a host of players entering the sector.
The rise of UAE Online Retailers in Dubai has given rise to a large number of companies focusing on the retail of E-commerce. Consumers who are staying in the country for a short period of time can buy or purchase their household goods, books, and gadgets at the best price across the globe without leaving Dubai. Another major segment of online trading in Dubai, when compared to other retail spaces in Dubai, is the food and grocery segment. Other important segments such as medical and health, beauty and cosmetics, fashion and sports, travel, entertainment, and gifts have a healthy demand. Thus the importance of online trading has increased significantly in these sectors, especially in Dubai.
India is one of the largest e-commerce markets in the world, especially when it comes to online trading. For quite a while, India has been among the top 10 markets for international internet retailing. The presence of such a large pool of consumer base has ensured that there has been an increase in the number of e-commerce platforms, especially in India. Today, e-commerce in India is one of the fastest-growing sectors in the country. Major e-commerce companies are creating facilities for India, catering to the needs of consumers based in the country. While there are about 28 million Internet users in India, the number of online shoppers in India is more than 500 million. E-commerce is considered one of the important factors contributing to the growth of the Indian economy.
India Online Retailer Market:
India has an abundant number of consumers. However, the problem lies in the lack of a proper mechanism that can help consumers take advantage of online buying. However, the advent of online shopping in India has helped a lot in overcoming the problem of online shopping. Online shopping helps in providing competitive prices in addition to providing availability of a large number of choices. Many companies are providing a platform for online retail in India, which is getting popular among customers. Big retail chains and small retailers are now seeing an opportunity in this. This is mainly because of the decreasing logistics and production costs. The market for online retail in India is one of the most competitive in the world. In the year 2013, major online retailers and players in India, including Myntra, Amazon, and Flipkart, collectively accounted for just 17.1 percent of the total e-commerce market. The online retail market has grown by more than 80 percent since then. In 2017, there were more than 85 million online shoppers in India. Thus, the future of e-commerce in India looks bright.
The Asia Pacific region is a major hub for e-commerce. The region is driven by the huge appetite for online shopping among consumers, especially in developing countries. Currently, the region is witnessing major growth in the e-commerce sector. The region has one of the fastest-growing markets for online shopping and has a huge potential for online retailing. Singapore is the top destination for shopping in Singapore. The country has all the amenities to fulfill the needs of shoppers, be it on a large or small scale. Singapore is also the top destination for purchasing laptops, smartphones, and other electronic goods. Retailers in Singapore tend to focus on high-end merchandise. They deliver their products in small volumes, which is a USP for them. The countries like Singapore, Hong Kong, and Taiwan present opportunities for retail industries such as travel, tourism, fashion, and accessories. In Hong Kong, there is a substantial presence of wholesale and retail enterprises. This offers an enormous range of goods for consumers to choose from. There are a number of manufacturers and sellers of handicrafts, watches, and electronics. The tourist hot spots in the country include Victoria Peak, Miramar, Shek O, and Tsim Sha Tsui, which offer great shopping and entertainment facilities.
The Taiwan market is characterized by a number of retail, manufacturing, and transportation companies. Taiwan’s domestic market has been increasing as a result of increasing incomes and advanced economies in the region. The Philippines is an e-commerce market leader in the Asia Pacific. The country boasts a rich selection of products such as auto parts, electronics, and clothing. Buyers from the Philippines have easy access to international brands in their country, making the country a major destination for foreign buyers.
Australia is another developed country, and one of the top destinations for those interested in international fashion brands. The country has a large range of high-quality products for consumers to choose from, which can be bought easily. The country has a number of online retailers, that specializes in shipping and delivery services.
In Hong Kong, there is a large consumer base for luxury brands, with an increasing number of consumers willing to spend on branded apparel. Consumers in Hong Kong also prefer shopping from the comfort of their homes and prefer purchasing luxury goods online.
In Singapore, the government is working towards giving a boost to the country’s e-commerce industry. The government is also creating tax exemptions to help e-commerce companies with the growth of their business in the country.
Government and Culture
A big factor responsible for the growth of e-commerce in the Asia Pacific is the existence of a stable and consistent online shopping industry. The presence of a stable and consistent online shopping industry gives ample opportunities for retailers to build long-term relationships with customers.
This helps them to enhance their consumer base, and ensure the growth of their business in the future. The e-commerce industry is the core component of the digital economy and hence needs to be highly supported by the governments of many countries in the region. In many Asian countries, governments are working towards supporting the e-commerce sector to bring the convenience of shopping online to the masses.
What Consumers Like About E-Commerce:
The emergence of e-commerce in India has attracted a large number of people to buy from online retail stores. In India, over 90% of e-commerce revenues are from web purchases. Most people prefer to shop from websites, as they provide a wide variety of products, at the most competitive prices.
The ever-growing penetration of smartphones has also led to the growth of e-commerce in the country. In the Philippines, the growth of e-commerce has been steady, with online retailers gaining significant market share. This has given a major boost to the country’s economy.
Focus on Transforming E-Commerce:
In a bid to support the growth of the e-commerce sector in Asia Pacific, a number of governments have focused on transforming the industry and building new and innovative products to cater to the requirements of consumers.