Group buying site bucks the trend as UAE e-commerce industry set to reach USD10 billion
Online daily discount deals’ increasing appeal in Dubai has fuelled a 19% subscription growth in 2014 for Nail the Deal, a leading online retail portal in the Middle East and part of Cosmos Creative Services, the company announced today.
“Daily deals or group buying websites have not only given consumers an array of opportunities to try products or experience services within their respective areas, but have also allowed retailers and business owners to reach a wider client base,” says Neha Matoo, Senior Business Analyst of Nail the Deal.
Nail The Deal also attributes their business’ year-on-year subscription uptrend to the UAE’s robust e-commerce industry, which is expected to be worth USD10 billion by 2018. In addition, the country has shown the most upbeat online shopping behaviour among consumers in the Middle East, according to a recent MasterCard survey.
“The UAE experience is also reflective of the e-commerce revolution that is happening across the GCC. PayPal, for example, predicts that B2C online sales in the Gulf would stand at USD15 billion in 2015, which is around 67% higher than the USD9-billion projection this year,” Neha Matoo adds.
Since launching in 2010, Nail the Deal has become one of the most significant players in the regional daily deals segment. In Dubai, Nail the Deal has obtained a competitive edge by targeting all locations of the emirate – not just the downtown area, which is popularly identified as the ‘New Dubai’ – and offering a diverse range of products and services at different price points.
“2014 has been a good year for Nail the Deal and we aim to replicate this positive performance next year. In January, we are expecting to launch a dedicated website for eyewear as we take advantage of the growth opportunities in the UAE’s e-commerce market,” says Neha Matoo.