Dubai - Mubasher: The chairman of the Dubai Chamber of Commerce and Industry, Majid Saif Al Ghurair, expects electronic commerce to reach 10% of the total retail industry in the emirate in the next five years, compared to its current 5% share.
Al Ghurair also said on Tuesday, the first day of the 11th World Retail Congress in Dubai, that total retail sales worldwide grew 6% to around $22 trillion in 2016, according a statement.
A new study by JDA Software showed that 69% of the retail traders are planning to increase their investments in electronic transformation.
The statement also indicated that e-commerce total sales reached $2 trillion last year.
Al Ghurair also expects e-commerce sales in the countries of the Gulf Cooperation Council (GCC) at a compound annual growth rate (CAGR) of 7.3% between 2015 and 2018 ro reach $284.5 million.
The UAE’s e-commerce retail sector is likely to see a CAGR of 24% to reach AED 14.1 billion by 2021, Al Ghurair noted.
