How Unified E-Commerce Can Help UAE Retailers Drive This DSS Sales
Dubai’s most popular summer extravaganza is back. The 25th edition of Dubai Summer Surprises (DSS), which runs from July 1 to September 4, promises plenty of dining, shopping and entertainment in the city’s major malls and pop-ups. Residents and visitors to Dubai are eagerly awaiting competitive discounts and offers, and retailers are also preparing for a busy season ahead.
As people prepare to make big purchases, they will be looking for exceptional customer experiences, including convenience, security, and ease of transactions. According to a retail study we conducted in 2022, consumers in the United Arab Emirates are more likely to shop with retailers that use technology to provide seamless payments and an enhanced customer experience. This was noticed by retailers in the United Arab Emirates. Thus, a majority (66%) of businesses in the UAE have invested in digitalization to improve their operations during the pandemic, 20% more than the global average. Those who have digitized have seen a direct impact on their growth rate, as 73% have grown by 20% or more and even 88% will continue to grow by 20% or more in the coming year through the use technology to link transactions with payments and the customer experience.
Take advantage of the digital opportunity
Leveraging technology could be a game-changer for retailers in the UAE. According to a study by the Dubai Chamber of Commerce and Industry, retail sales in the UAE will increase by 6.6% per year to reach Dhs 258 billion by 2025. In addition, retail e-commerce is expected to reach 29 billion Dhs during the same period.
Digitally savvy customers are hungry for new experiences – and retailers are increasingly deploying new technologies such as click and collect, location-based marketing, voice recognition, and AI and IoT to improve the overall customer experience and enable smoother tracking and collection of items. Connecting operations and customer experience is fundamental to success, not only in terms of sales, but also operational efficiency. Our studies show that there is a 9% increase in growth among agile businesses that have connected their online, in-app, and in-store payment channels compared to those that do not.
Take a “unified” approach to growth
A “unified” approach enables businesses to make more data-driven decisions, which inevitably leads to improved supply chain and inventory management. Our research indicates that the average merchant expects a 64% increase in revenue growth in 2022 by adopting this method.
Businesses in the UAE are on the right track, with retailers that have connected their systems and opportunities to Unified Commerce enjoying growth rates above the global average. In fact, 61% of businesses in the UAE experienced an improvement in customer experience, which translated into a remarkable 54% growth in sales. This is largely due to the acceleration of digital transformation in the industry, as businesses have been forced to streamline operations and connect with customers in new ways during the pandemic.
Now that everyone is past global lockdowns and restricted supply chains, the majority of consumers expect retailers to offer the same multi-channel flexibility they have offered during the pandemic. Essentially, linking online, in-app, and in-store payments with a single system — through unified commerce — has been shown to improve both brand resilience and customer satisfaction.
Key points to remember
As Dubai Summer Surprises kick off, retailers need to focus on a few key areas to improve their business performance. They should work to link the online and physical shopping experience and leverage technology to make their loyalty or rewards programs easier and more effective. For example, link your loyalty program to your customer’s payment card or use mobile POS terminals that allow store staff to let customers pay wherever they want in-store. Unified commerce practices like these will support focused decision-making and flexible experiences for customers. They also allow retailers to stay agile as they can add new channels and quickly support new customer journeys where everything is connected. Relying solely on physical stores with helpful staff and an exciting environment is not enough in the UAE’s competitive retail environment; businesses need to think of the big picture to stand out by delivering an omnichannel experience.
Sander Maertens is responsible for the Middle East at Adyen
Read: What’s in store for Dubai Summer Surprises 2022?