UAE e-commerce market to touch $9.2-bn by 2026
Inflation in the form of skyrocketing retailer costs and increased consumer prices could play a key role in the 2022 holiday shopping season. Online sales to remain flat this holiday season, even as November and December sales are expected to reach $1.12 trillion worldwide and $265 billion in the US.
Having said that overall online spending will remain strong when compared to pre-pandemic. The surge in online spending seen over the last two years will remain strong in 2022 though relatively unchanged compared to last year.
Digital sales will continue to dwarf pre-pandemic levels (up 55% globally and 61% in the US at a 3-year growth rate compared to 2019 sales). However, they’ll remain essentially flat compared to 2021 decreasing 2% globally and increasing 3% in the US.
Increasing prices due to inflation will mean fewer overall orders. As global online prices grow 7% compared to 2021, and 15% compared to 2020, consumers’ total online orders will drop 7% compared to the 2021 holiday season.
Meanwhile, the increasing costs for suppliers, labour and transportation will outpace retailers’ ability to pass costs onto customers, putting 10% of profits at risk for retailers and brands.
[Data from Salesforce Shopping Index, which analysed global data from more than one billion consumers.]
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