The United Arab Emirates (UAE) is gearing up for another Dubai Summer Surprises (DSS) season. Fresh data from Checkout.com suggests an upcoming boost in digital spending, building on last year’s significant increase.
Renowned as a major shopping event in the Middle East, the DSS season typically triggers a spike in daily digital transactions. This trend was notably prominent last year, as Checkout.com‘s data reveals. The data provides intriguing insights into consumer behaviour during this period.
Given the world’s escalating dependence on digital transactions, this increase in digital spending is expected. It highlights the mounting importance of digital payments, especially during high-demand shopping periods like the DSS.
Forecasted Rise in Digital Spending
Looking forward, Checkout.com predicts a more pronounced rise in digital spending this DSS season. Amidst a growing shift towards digitalisation, consumers are progressively abandoning traditional retail methods, opting for the convenience, speed, and safety of online transactions.
The shift in consumer habits, hastened by the global pandemic, has greatly benefited the digital payment industry. Companies like Checkout.com have seen remarkable growth, leveraging the heightened demand for secure, efficient digital payment solutions.
The expected surge in UAE’s digital spending coincides with substantial growth in the wider fintech sector. It mirrors a larger trend towards digitalisation and technology adoption in finance. This trend extends beyond the UAE, with increased digital spending reported globally.
As the DSS season nears, both retailers and financial institutions will closely monitor digital spending patterns. The forthcoming data from Checkout.com will provide invaluable insights into the evolving consumer market, shaping future strategies across the sector.
