89% have plans to expand abroad
Adyan: 61% of UAE retail companies use artificial intelligence technologies
Mahmoud Ismail: "The UAE leads the countries of the region in the trends of integrating and adopting the retail sector for smart solutions and artificial intelligence systems."
According to the "UAE Retail Sector 2023" report, prepared by Adyen, an international financial technology organization for financial technology systems, market surveys revealed that 80% of consumers in the country spend more time searching for the best deals and prices, while 30% wait for discount campaigns and offers such as "Black Friday" and big discounts, while 52% prefer the continuity of offers throughout the different periods of the year.
According to the report, 78 per cent of UAE consumers want more discounts from retailers, while 74 per cent demand effective loyalty programmes from retail outlets.
Mahmoud Ismail, Head of Acquisitions and Payments at Adyan International, said: "The survey, which sheds light on changes in shopper behaviour across different markets, as well as the current performance of retailers, revealed that 61% of retail companies in the UAE use artificial intelligence technologies, and more to support systems to counter electronic hacking attempts."
He added to "Emirates Today" during a press interview held in Dubai on the launch of the report, that «the UAE, according to market indicators, leads the countries of the region in the trends of integrating and adopting the retail sector for smart solutions and artificial intelligence systems».
He explained that «the market survey revealed that 57% of retail companies in the country are heading to expand during the coming period using artificial intelligence systems», pointing out that «89% of retail companies in the UAE have plans to expand in foreign markets from their headquarters in the country».
He pointed to details revealed in the market study in the retail sector, related to the fact that 74% of consumers are concerned about carrying out e-commerce operations from new platforms.
He continued: «57% of consumers in the country avoid outlets that do not provide electronic payment methods suitable for them, while 36% of them confirmed that they will visit the store that applies the latest technology frequently».
"78% of consumers prefer to have personalized shopping experiences through shopping apps and loyalty programs related to receiving offers and deals that suit their buying styles," he said.