Criteo, the performance marketing technology company, recently hosted their annual flagship event Criteo Live for the first time ever in the UAE in Dubai on 9th November. The ‘What’s Next? The Future of E-commerce’ conference took place on a yacht docked at the Dubai Marina Yacht Club. The main focus of the event was the consumer journey and the challenges that marketers face in delivering a personalized experience that is seamless across all platforms.
Criteo and industry experts discussed key trends and innovations in e-commerce and the attribution strategies that are transforming e-commerce globally and locally. The highlights of the afternoon included panel discussions on retail industry insights from some of the biggest e-commerce names in the region such as Markavip, Virgin, Souqalmal, and keynote speeches by Criteo’s top executives on a greater understanding on being successful in cross border e-commerce.
Gregory Gazagne, Executive Vice President EMEA emphasized the importance of people centric marketing. He said “Today’s consumer is driving a seismic shift in e-commerce. Millennials have grown up with digital and Gen Z are ‘technohilics’, they expect everything on demand and thus smartphones are increasingly becoming the device of choice for e-commerce.”
In 2016, approximately 1 billion active mobile payment users exist globally. By 2019, the number is predicted to reach 2 billion. Mobile is driving an unprecedented shift in consumer behavior and has reduced the use of cards and cash.
“A mobile first approach is key for any e-commerce business or retailer to succeed in this day and age. Globally, smartphones are leading the way and the MENA region is a 81% smartphone driven region with 43% e-commerce transactions happening through mobile, in comparison to 39% globally.” said Dirk Henke, Criteo’s Managing Director Emerging Markets.
He continued “By optimizing the mobile experience for smartphones and personalizing mobile web shopping experience, brands will have a greater chance to convert browsers to buyers.”
According to Criteo’s Mobile Commerce Report H1 2016, 57% of retail mobile transactions are made within an app. By making applications a priority, building loyalty and rewards to inspire brand engagement, and providing personalized communications across all platforms, retailers can harness the power of apps for their business and generate 60%+ revenues in app.
The conversion rate for mobile app purchases is 13% as opposed to the desktop conversion rate, which is 11%. Technologies like deep linking and mobile retargeting help retailers drive downloads and traffic to apps.
By implementing technology, retailers can connect with people as opposed to devices by using real-time customer and device data to create a seamless experience and a consistent brand story. Cross device purchasing is 50% of all e-commerce globally and 42% in Middle East and Africa.
By 2026, contextual location will be an integral part of the retail experience and will be driven by mobile. Predictive analysis will pave the way for a far better shopping experience and digital assistants will draw on cognitive power of artificial intelligence and will do the job of identifying goods and deals for users.
The two industry driven panel discussions provided local insights on m-commerce in the region and included key experts like Rami Zeidan, Head of Marketing of Anghami, Sebastian Mitchell, CMO of Markavip, Ambareen Musa, CEO of Souqamal, Remo Giovanni Abbondandolo, MD of Travelstart, Harry Lonergan, Sun & Sand, Sports, Digital Marketing Executive at Sun and Sand Sports, Almir Smajlović, e-commerce Manager of Virgin.
CEO of Mumzworld, Mona Ataya concluded the event with a fireside chat with Mollie Spilman, CRO Criteo after her keynote speech. The chat shed light on how women can become successful business leaders in the corporate world while maintaining a healthy work and personal life balance. The chat also discussed the changing dynamics of consumer behaviour within the region, and how retailers can capitalize on trends and input measures to combine both online and offline retail worlds efficiently.