Moreover, 70 per cent of consumers in the MENA region favour using a digital payment method, which is higher than 60 per cent in 2021, according to the ‘Digital Transformation in MENA 2022’ report by financial technology company Checkout. More than 15,500 shoppers from MENA were surveyed in August 2022 for the report.

E-commerce penetration in the Middle East North Africa (MENA) region is at an all-time high with 91 per cent of consumers saying they regularly shop online in 2022 — an increase from 87 per cent in 2021. Around 52 per cent of MENA residents also revealed that they shopped online more often in 2022 compared to 47 per cent in 2021, according to a survey.

On one hand, 82 per cent of MENA consumers admitted that they used some type of fintech app in 2022 compared to around 76 per cent last year. On the other hand, there was a 40 per cent decrease in the use of the cash on delivery option in the past two years.

The Buy Now Pay Later (BNPL) option has also found increased popularity in MENA with nearly 50 per cent of those surveyed from the UAE and Saudi Arabia having used BNPL in 2022. Thirty-nine per cent of consumers in various parts of MENA opted for BNPL in 2022 compared to 24 per cent last year, which goes on to show that BNPL penetration in the MENA region is higher in comparison with Europe and the US.

Fibre2Fashion News Desk (NB)