-
UAE’s Food and Beverage e-Commerce Presents Investment Opportunities
- August 2, 2021
- Posted by: Waqas Siddiqui
- Categories: Business & Economy, Insights
No CommentsUAE’s Food and Beverage e-Commerce Presents Investment Opportunities A recent webinar organized by Dubai Chamber of Commerce, MNCs and on-demand delivery app InstaShop identified new business opportunities in the UAE’s food e-commerce sector that companies in emerging markets can capitalise on. The focus of the webinar was on Food & Beverage (F&B) e-commerce awareness. More than 84 participants from 33 countries, representing food manufacturers, export promotion agencies and trade offices participated in the webinar. Sessions during the event examined the latest UAE food e-commerce dynamics, trends and competitive advantages that Dubai offers as a world-class food e-commerce and innovation hub. The virtual event provided valuable insights on the UAE’s food e-commerce ecosystem and evolving business landscape. Insights on the importance of using e-commerce platforms to expand business beyond borders and tap into growing demand among consumers in the UAE and surrounding markets who are increasingly turning to digital channels to access products and services were discussed in the event. UAE – Online F&B Segment Performance Despite the COVID-19 pandemic affecting several industries in UAE, the online sales within the F&B sector surged in 2020 reaching a value of AED 1.5 billion (USD 412 million), recording a year-on-year growth rate of 255%. While the e-commerce purchase value in the country has nearly doubled in recent years, supported by the Covid-led digital shift has changed consumer behaviours. The value of online food and beverage sales in the country is expected to reach AED 2.2 billion (USD 619 million) by 2025, with an annual growth of 8.5% over the 2020-2025 period. Dubai’s digital economy is growing at a significant phase as various sectors adopt advanced technologies and cutting-edge solutions, while more e-commerce players enter the market. Addressing the rapid growth, the benefits of leveraging the e-commerce platform, as well as potential marketing partnership opportunities were discussed in the webinar session. Read: UAE Focuses on Achieving Innovation Driven Food-Security Dubai Chamber & Google Partnership Google and Dubai Chamber have partnered to launch ‘Business Online Presence’, a comprehensive digital solution designed to help businesses in the UAE manage their online presence, maximise visibility and attract new customers. The new solution was launched during the webinar event. Members of the Dubai Chamber can now access the ‘Business Online Presence’ dashboard to set and verify their business profiles across single or multiple locations on Google Search and Maps. Those online profiles feature essential business details such as opening hours, contact details, address and photos. Businesses can also post timely offers and promotional packages during special seasons. The tool can also generate a customized total score for each business’ online readiness and reputation management. Members of the Dubai Chamber can use the dashboard to standardize brand experience and engage with customers through online reviews, access timely insights like their store visits and identify operational challenges faster. A training program to learn the digital skills needed is also provided by Dubai Chamber under the name of ‘Maharat Min Google’. Investment Opportunities in UAE Online Food and Beverage Segment Online food delivery has exponentially grown over the past decade, and more so in the last two years, because of the pandemic. Majority of the residents in UAE have started to prefer ordering food online, which has led to a significant rise in the food delivery business and e-Commerce sector. Reports show that revenue in the online food delivery segment is projected to reach AED 11 billion (USD 3 billion) in 2021. The trends are expected to continue, with UAE residents actively switching to online food orders, providing opportunities for investment in the sector. Research Konnection is one of the leading F&B Industry Research Company in Dubai and assists clients in providing Food & Beverage Innovation Consultancy in UAE. Being the best F&B Consultancy Firm in Dubai, UAE, we can support in F&B Restaurant Consulting in Dubai, UAE and F&B Concept Culinary. Feel free to reach out to us on hello@researchkonnection.com for support in market research, business planning and restaurant feasibility study….
-
Ten New Schools To Be Established In Dubai - KHDA
- July 26, 2021
- Posted by: Waqas Siddiqui
- Category: Insights
Ten New Schools to be established in Dubai – KHDA Dubai’s Knowledge and Human Development Authority (KHDA) announced that ten new schools are set to open in Dubai for the 2021-22 academic year. According to t…
-
Digital Solutions Fueling the Growth of Businesses in UAE
- March 28, 2021
- Posted by: Waqas Siddiqui
- Category: Insights
Digital Solutions Fueling the Growth of Businesses in UAE A report conducted by ‘Visa’ in UAE suggested that a significant …
-
Dubai Masterplan 2040 Focuses on Improving the Quality of Life
- March 27, 2021
- Posted by: Waqas Siddiqui
- Category: Insights
Dubai Masterplan 2040 Focuses on Improving the Quality of Life in Dubai The latest Dubai 2040 Urban Masterplan aligns with UAE’s vision for the next 50 years. The Plan is focused on enhancing people’s happiness and quality of life. The people-centric Plan focuses on reinforcing Dubai’s competitiveness as a global destination by providing a wide diversity of lifestyle and investment opportunities for residents and visitors over the next 20 years. Dubai 2040 Urban Masterplan, has created a development model that offers the best possible quality of life and creates the conditions for sustainable prosperity which draws its inspiration from global best practices and adapts them to local needs and requirements. The primary goal of the masterplan is to create a truly inclusive environment that not only meets the diverse needs of people residing in UAE, but also inspire them to tap into their creative and innovative capacities and realise their true potential. Dubai Masterplan 2040 – Measures to Improve Quality of Life The plan emphasises on upgrading and improving the efficiency of utilizing the resources in Dubai, developing vibrant, healthy and inclusive communities, and doubling green and leisure areas and public parks to provide a healthy environment for residents and visitors. Nature reserves and rural natural areas will constitute 60% of Dubai’s total area. Several green corridors will be established to link the service areas, residential areas and workplaces, facilitate pedestrians’ movement, bicycles, and sustainable mobility means across the city, in coordination with developers and government departments. The land area used for hotels and tourist activities will increase by 134%, while that used for commercial activities will increase to 168 square kilometres. Dubai will continue to be a global hub for innovative start-ups, international corporations, and strategic investments. The Master Plan will also increase the land area allocated to education and health facilities by 25%. The length of public beaches will increase by 400% in 2040 to increase residents and visitors’ quality of life. Dubai Masterplan 2040 – Impact on Dubai Economy The new Plan will raise the efficiency of development and promote the infrastructure’s optimal utilisation by developing vacant urban spaces. It also seeks to provide sustainable and flexible means of mobility and foster greater economic activity and attract foreign investments to new sectors. The plan will help raise the Dubai’s growing role as a pivotal business and trade hub, enhancing its attractiveness as an investment destination by leveraging its superior logistics infrastructure and contribute to Dubai’s efforts to mitigate the repercussions of the Covid-19 pandemic, accelerate the pace of its economic recovery and prepare the ground for a bright new post-pandemic world. Research Konnection assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. It is one of the top market research companies in United Arab Emirates specializing in Market Research, Market Entry & Feasibility Studies. Feel free to reach out to us on hello@researchkonnection.com…
-
Importance of Conducting Market Research in Abu Dhabi
- March 25, 2021
- Posted by: Waqas Siddiqui
- Category: Insights
Importance of Conducting Market Research in Abu Dhabi Abu Dhabi Economic Outlook – 2021 Abu Dhabi is considered the wealthiest emirate in UAE, in terms of per capita income and Gross Domestic Product (GDP). The estimated GDP for the year 2020 was approximately AED 1.47 trillion (USD 401 billion) which contracted by 7.5% compared to 2019, as result of lower oil production and COVID19 outbreak. The GDP Per Capita for the same period accounted for AED 160,000 (USD 43,005). The economy is expected to grow at a rate of 2.2% between 2021-2023. Abu Dhabi injected approximately AED 50 billion (USD 14 billion) in 2021 to support small local businesses, research and development, tourism and entertainment industries to increase the GDP contribution of the non-oil & gas sector. The government aims to boost the private sector’s contribution to Abu Dhabi’s GDP from 32% in 2019 to 37% in 2021. Importance of Market Research in Abu Dhabi The ideal platform provided by the Emirate has made the environment highly competitive, where businesses compete on quality, price and most importantly the market information. In order to succeed in Abu Dhabi, better understanding of consumers, market and competition is required for companies (new and existing) to make key business decisions. Advantages of Conducting Market Research – Abu Dhabi Developing Effective Business Strategies With the help of a comprehensive market research exercise (i.e. surveys & interviews, business plan and feasibility study), companies can identify potential opportunities, evaluate market demand and devise an effective business strategy. Understanding Market & Competition Market research helps companies in analyzing the latest market trends, competition and consumer behavior in Abu Dhabi, Dubai, United Arab Emirates (UAE) and the Gulf region. Understanding Consumer Behaviour Market research helps companies in understanding consumer behavior and trends better. With the help of market research, businesses can better understand consumer needs and wants and accordingly position themselves in the market. Most importantly, an effective market research allow businesses to understand the following: Target Audience Profiling – Identify customers Market Segmentation – Identify niche / segment in the market Market Positioning – Position business considering target audience / market segment Marketing Mix – Plan effective product / service offering Pricing Strategy – Understand key price points Evaluating Return on Investment (ROI) Conducting Market research in Abu Dhabi helps companies in better understanding return on their investments. By evaluating the market demand of products and services and through competitor scanning, market research allows companies to ascertain the business potential. Through in-depth market research, companies (existing and new) can not only reduce the risks associated with the investments but also benefit from increased revenues and profitability. Need For Conducting Market Research – Abu Dhabi COVID-19 has impacted almost all the sectors in Abu Dhabi and has made the market highly volatile and uncertain. The unpredictable conditions have further increased the need for conducting market research to be highly critical for the long-term success of any business. Organisations that fail to conduct market research tend to drown. Though some organizations conduct internal research, they tend to lose sight of the consumer market research that is required for the growth of their business. By imparting right knowledge and suggesting practical solutions, market research companies can enable business not just to accelerate their growth but also mitigate potential business risks. Therefore, it becomes essential for businesses (new and existing) to conduct in-depth market research and use information / insights to make key business decisions. Research Konnection is one of the best market research companies in Abu Dhabi and UAE. Please feel free to reach out on waqas@researchckonnection.com to discuss about successfully entering the UAE market, Market Research, Business Plan Development, and Business Setup or Expansion. …
-
Gulfood 2021 – Focus on innovating F&B industry in UAE
- February 25, 2021
- Posted by: Sandeep
- Category: Insights
-
UAE Ranked as the Most Innovative Country in the Gulf Region for the Year 2020
- February 9, 2021
- Posted by: Waqas Siddiqui
- Category: Insights
-
UAE Ranked 13th in Ease of Launching Online Business
- January 17, 2021
- Posted by: Waqas Siddiqui
- Category: Insights
UAE Ranked 13th in Ease of Launching Online Business
A study conducted by a leading company that reviews and rates financial software ranked UAE 13th among 99 countries for Ease of Starting Business Online. Major criteria considered were mobile internet speed, internet coverage & penetration, wealth of the country, ease of starting a business and corporate taxes. The overall score obtained by UAE was 68.4 out of 100, just below the UK and ahead of Belgium. UAE was ranked the best in the Gulf region with Saudi Arabia (53.67) and Kuwait (51.39) following the list.
UAE Based Startups – 2020
The startup data platform MAGNiTT confirmed that the estimated startups in the MENA (Middle East & North Africa) region was around AED 3.75 billion (USD 1 billion). This was an increase by 13% when compared to the previous year. UAE, Saudi Arabia and Egypt which are considered to be the innovation hotspots in MENA, accounted for more than 68% of the total deal disclosed in the year 2020. UAE was leading the region with 56% of all capital deployed, estimated to be around AED 2 billion (USD 579 million). Approximately 26% of the deals and 129 transactions took place in UAE.
UAE e-Commerce Industry
The Gulf e-Commerce market reached a value of AED 88 billion (USD 24 billion) in the year 2020, which was an increase by AED 7.3 billion (USD 2 billion) when compared to the year 2019. The average annual spend in UAE rose by 30%, with the per capita spend estimated to be around AED 2,200 (USD 600) to AED 4,775 (USD 1,300) on an annual basis.
Similarly, the e-Commerce sector was leading all the other sectors in terms of investments, with total investment estimated to be AED 595 million (USD 162 million). This was followed by F&B (Food & Beverage) sector AED 450 million (USD 122 million) and Healthcare sector AED 264 million (USD 72 million). Moreover, the COVID-19 pandemic rapidly accelerated the adoption of technology across emerging markets, creating larger markets and more opportunities for investments in the sector.
Likewise, the governments, investors and private companies were all actively investing in the technology to adapt to the existing trends and improve their services. The trends are expected to continue with new technologies and innovations actively being adopted by both government and private companies across UAE. Contact a Market Research Company in UAE if you would like to know more about the emerging trends in the e-Commerce sector.
Research Konnection assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. It is one of the best-rated market research companies in Dubai specializing in Market Research, Market Entry & Feasibility Studies. Feel free to reach out to us on hello@researchkonnection.com…
-
Restoring Ties with Qatar will positively Impact Gulf Economy
- January 7, 2021
- Posted by: Waqas Siddiqui
- Category: Insights
-
UAE Focuses on Achieving Zero Oil in GDP in the Next 50 Years
- October 29, 2020
- Posted by: Waqas Siddiqui
- Category: Insights
UAE Focuses on Achieving Zero Oil in GDP in the Next 50 Years
With COVID-19 pandemic bringing unprecedented challenges to people and the economy, the UAE government aims to diversify its economy by having zero oil dependency on GDP and refining policies in a bid to grow non-oil based sectors and facilitate investments in them.
Achieving Zero Oil Dependency in the Next 50 Years – UAE
UAE is aiming to become the first country in the world to achieve zero contribution of oil on its eGDP over the course of next 50 years. The country aims to enhance the investment opportunities in industries such as Information Technology (IT), Artificial Intelligence (AI), Blockchain and Robotics. In addition, UAE is also focusing on strengthening its position as a regional leader in finance, logistics, infrastructure for energy and other services which would help achieve the zero oil contribution to GDP.
Impact of FDI on Economic Diversification
Foreign Direct Investment (FDI) plays a critical role in the economic growth of UAE with the country leading the region in 2019. One of the major reasons for the increase in investments was the FDI law that was enacted in 2018, which opened up the UAE market to investors in certain sectors and relaxation of foreign ownership restrictions for 122 business activities. These initiatives cumulatively increased the FDI 52% reaching AED 50 billion (USD 14 billion) in 2019 compared to 2018.
Furthermore, the digitalisation strategies and promising business relations implemented by UAE has placed it 16th on World Bank’s Ease of Doing Business list. UAE will continue to refine its policies that will maximise competitiveness, increase collaboration and provide opportunities for FDI in a bid to achieve zero oil contribution to GDP.
Key Emerging Sectors
The Covid-19 pandemic has had a significant impact on FDI in UAE, it is estimated that the investments might start recovering by the year 2022. Some of the major segments that will see an increase in investments are e-Commerce, IT, Innovation, Healthcare, Manufacturing, Retail and Food & Beverage (F&B). Similarly, the emerging sectors that would see an increase in FDI are Communication Networks, Artificial Intelligence, Blockchain, 3D Printing and Machine-to-Machine Communication.
Research Konnection is one of the leading market research companies in Dubai that assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Development. Feel free to reach out to us on hello@researchkonnection.com…