Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "United Arab Emirates Conversational Commerce Market Intelligence and Future Growth Dynamics Databook - 75+ KPIs on Conversational Commerce Trends by End-Use Sectors, Operational KPIs, Product Offering, and Spend By Application - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, conversational commerce industry in United Arab Emirates is expected to grow by 25.4% on annual basis to reach US$7,026.4 million in 2023.
The conversational commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 19.4% during 2022-2028. The conversational commerce transaction value in the country will increase from US$7,026.4 million in 2023 to reach US$17,031.0 million by 2028.
The conversational commerce industry is still in its early stages of development in the United Arab Emirates. However, the robust internet infrastructure coupled with the tech-savvy population is expected to accelerate the growth of the market from the short to medium-term perspective. To compete with the fast-growing online retail segment in the Emirates, offline retailers are also seeking to build an online presence through conversational commerce.
As more and more retailers, across industry verticals, enter the conversational commerce segment to drive customer engagement and sales, the publisher expects the competitive landscape to grow in the Emirati e-commerce industry. This will keep aiding the growth of the conversational commerce market in the United Arab Emirates from the short to medium-term perspective.
Mall of the Emirates brings conversational commerce for shoppers in partnership with WhatsApp
The United Arab Emirates online shopping industry has recorded strong growth over the last three years. Driven by the pandemic, the trend has continued even after the impact of Covid-19 diminished. Consequently, to compete with the growing e-commerce market, offline retailers are turning to conversational commerce in the Emirati nation.
In October 2022, Mall of the Emirates announced that it is allowing shoppers to purchase products from over 350 international and domestic brands entirely through WhatsApp. With conversational commerce, Mall of the Emirates is seeking to bridge the gap between physical stores and digital platforms.
From the short to medium-term perspective, more and more offline retailers and supermarkets are expected to leverage conversational commerce to drive their sales and revenue growth, amid the growing online shopping trends. Lulu Hypermarket has already launched an AI-powered customer experience on WhatsApp in March 2023.
Salem, an AI-powered assistant, will enable shoppers to order products for in-store collection, receive purchase receipts, and track orders. Furthermore, the retailer has also launched a loyalty program on WhatsApp.
As more brands introduce conversational commerce capabilities into their business model, the publisher expects the market to record strong growth over the next three to four years. This will also drive innovation in the fast-growing commerce category.
Emirates-based conversational commerce providers are recording strong growth in sales and revenue
With more brands turning to conversational commerce, providers are gained widespread traction for their tools and services in the United Arab Emirates. This is evident in the sales and volume growth.
Zbooni, one of the leading conversational commerce providers in the MENA region, announced that the firm had recorded strong growth during the 12-month period in 2022. The sales volume for the firm increased by an average of 76% in 2022. Notably, tens of thousands of businesses are using the conversational commerce tools offered by Zbooni.
According to the firm, Zbooni merchants experienced a 42% increase in transactions during the Black Friday event in 2022, compared to the same period in 2021. Furthermore, the firm revealed that November and December were the busiest months for Zbooni. In 2023, the firm is projected to record further growth as conversational commerce continues to grow in demand among merchants and shoppers.
As the market continues to grow, the publisher also expects foreign players to launch their conversational commerce tools and services in the United Arab Emirates market. This will accelerate the competitive landscape and innovation in the fast-growing commerce sector from the short to medium-term perspective.
This report provides a detailed data centric analysis of conversational commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of conversational commerce market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
Reasons to buy
- In-depth Understanding of Conversational Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
- Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate conversational commerce strategy; assess market specific key trends, drivers, and risks in the industry.
Scope
This report provides in-depth, data-centric analysis of conversational commerce in United Arab Emirates. Below is a summary of key market segments:
United Arab Emirates Conversational Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
- Transaction Value
- Transaction Volume
- Average Value Per Transaction
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- AI-Based Virtual Assistants
- Non-Intelligent Chatbot
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Virtual Assistant Type
- Chatbots
- Digital Voice Assistants
- OTT Messaging
- RCS Messaging
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Chatbots
- Web-Based
- App-Based
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Key Sectors
- Retail Shopping
- Travel & Hospitality
- Online Food Service
- Media and Entertainment
- Healthcare and Wellness
- Financial Services
- Technology Products and Services
- Other Sectors
United Arab Emirates Conversational Commerce Industry Market Size and Forecast in Key Sectors by Product Offering
- Retail Shopping Market By Chatbots
- Travel & Hospitality Market By Chatbots
- Online Food Service Market By Chatbots
- Media and Entertainment Market By Chatbots
- Healthcare and Wellness Market By Chatbots
- Financial Services Market By Chatbots
- Technology Products and Services Market By Chatbots
- Other Sectors Market By Chatbots
- Retail Shopping Market By Digital Voice Assistants
- Travel & Hospitality Market By Digital Voice Assistants
- Online Food Service Market By Digital Voice Assistants
- Media and Entertainment Market By Digital Voice Assistants
- Healthcare and Wellness Market By Digital Voice Assistants
- Financial Services Market By Digital Voice Assistants
- Technology Products and Services Market By Digital Voice Assistants
- Other Sectors Market By Digital Voice Assistants
- Retail Shopping Market By OTT Messaging
- Travel & Hospitality Market By OTT Messaging
- Online Food Service Market By OTT Messaging
- Media and Entertainment Market By OTT Messaging
- Healthcare and Wellness Market By OTT Messaging
- Financial Services Market By OTT Messaging
- Technology Products and Services Market By OTT Messaging
- Other Sectors Market By OTT Messaging
- Retail Shopping Market By RCS Messaging
- Travel & Hospitality Market By RCS Messaging
- Online Food Service Market By RCS Messaging
- Media and Entertainment Market By RCS Messaging
- Healthcare and Wellness Market By RCS Messaging
- Financial Services Market By RCS Messaging
- Technology Products and Services Market By RCS Messaging
- Other Sectors Market By RCS Messaging
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Organization Size
- Large Enterprise
- Medium-Sized Enterprise
- Small Enterprise
United Arab Emirates Total Spend on Conversational Commerce Market
United Arab Emirates Conversational Commerce Industry Market Size and Forecast by Spend on Application
- Software Application
- IT Services
- Consulting Services
United Arab Emirates Conversational Commerce Spend on Key Sectors
- Retail Shopping
- Travel & Hospitality
- Online Food Service
- Media and Entertainment
- Healthcare and Wellness
- Financial Services
- Technology Products and Services
- Other Sectors
For more information about this report visit https://www.researchandmarkets.com/r/x6rbbp
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