Retail and e-commerce

Booming e-commerce sector

Dubai’s e-commerce landscape has experienced exponential growth in recent years. Large companies and SMEs have benefited from its business-friendly ecosystem, which offers easy access to workplaces, order fulfilment and diverse delivery solutions. 

The sector is anticipated to witness sustained growth momentum over the next three years, with 12% growth for e-commerce and social commerce. This is expected to boost the diversity and number of players in the ecosystem and attract tech companies and providers that can pioneer innovative solutions for the e-commerce market. 

Accelerating growth with strategic initiatives 

The government is focused on positioning Dubai as a global epicentre for e-commerce, making it a key contributor to the UAE’s e-commerce sector, which is the fastest growing worldwide. Initiatives and projects like Dubai’s e-commerce strategy and the launch of the DMCC e-commerce ecosystem aim to catalyse e-commerce growth across the MEASA region and solidify Dubai’s position as the region’s primary global logistics hub, drawing increased foreign direct investment.

These developments are also supported by the introduction of a new e-commerce law that outlines more explicit regulations on the interaction between e-commerce platforms and customers. This will enable a more seamless operating ecosystem for e-commerce activities, boost the overall economy and improve competitiveness.

Tech innovation in retail 

Dubai’s retail scene is undergoing a tech revolution, supported by the government’s focus on adopting the latest technologies to remain competitive and cater to evolving consumer demands. Biometrics has been introduced as a payment option, with customers being able to pay using facial recognition software instead of traditional payment methods. Additionally, the emergence of “phygital stores” provides a unique shopping experience, combining online and traditional in-person shopping.

Strategic initiatives such as the Dubai Future Foundation’s ‘Future of Luxury Retail’, created in partnership with Richemont, aim to propel start-up-based tech innovation in the luxury retail market. The focus is to provide a platform for entrepreneurs to ideate new and effective modes and solutions to enable further growth in the sector. 

The Global Retail Summit: shaping the future of retail

In addition to Dubai’s well-known shopping festivals, the Dubai Chambers also organises the annual Global Retail Summit. As the premier platform that explores modern trends shaping the retail industry, the summit brings together industry leaders, experts, policy-makers and officials. 

The summit aims to promote sustainability, enhance customer engagement, integrate new technologies, and improve digital infrastructure. The 2024 edition is expected to feature over 800 attendees from 64 countries and present an array of insightful round tables, panel discussions and exclusive networking opportunities for retailers and e-commerce companies.