Union Coop: Stores and E-commerce Portals Enhance Market Captivation
Dubai, UAE: 8 September 2023
Dubai-based Consumer Cooperative ‘Union Coop’ has affirmed that the present market saturation with stores and e-commerce portals has enhanced competitiveness in the markets, especially in the retail outlets that now employ innovative methods to promote products and offer discounts that sometimes reach up to 50% to 70% to stimulate online purchases and motivate consumers to take advantage of the promotions.
In its report, the Cooperative stated that the growth of e-commerce has led to an increase in the number of consumers using online platforms, as the percentage of online sales is steadily increasing on a monthly basis, as per the statistical data reported by each store. This is due to the time and effort saved for consumers, who can now see all the available offers from different outlets at once, whether at work or at home, and compare them before making a purchase. The majority of outlets have started offering online purchasing with either ‘on-site pickup’ or free home delivery, subject to certain conditions such as the purchase ratio and invoice amount, and this is exactly what the Cooperative has implemented and offered to all consumers.
Union Coop emphasized that consumers have a high level of trust in e-commerce platforms due to the services provided that protect their rights, offer attractive alternatives, and provide reasonable pricing, especially for highly demanded electronic products, food, and non-food items.
It should also be noted that retail outlets have increased their competitiveness through these platforms by reducing delivery time and fees, preserving the right to return goods if they do not meet specifications, providing shopping wallets, and earning loyalty points to reach a wider range of consumers and boost their sales.
The Cooperative disclosed that it handles more than 1,100 online orders daily, offering a wide variety of products in its smart store. New products are added and updated daily, in line with the retail sector developments. It also mentioned that the ‘Dubai Chamber of Commerce’ predicts that e-commerce’s share of retail sales in the UAE will reach 12.6% of total retail sales by 2026, indicating promising growth opportunities in the e-commerce market and the rapid adoption of e-commerce in the UAE. This analysis indicates an increase in price transparency by providing price comparisons for products sold through online platforms.
Furthermore, it continued to highlight that all indicators suggest significant interest in e-commerce within the retail sector, with continuous updates to sales platforms through their applications or smart websites to keep up with ongoing developments in this field and provide better services to enable continuous growth of this sector.
