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Monday, 16 May 2016

Egypt lags region on ecommerce, according to State of Payments report

Egypt is “both leading the way and still well behind” when it comes to ecommerce, which, according to Payfort’s 2016 State of Payments report, is the “furnace” driving growth in the Middle East’s online economy,” Wamda writes. The report, which is set to officially be released online at the Ecommerce Middle East Show in Dubai at the end of the month, shows that until 2020, travel, events, and entertainment are “pushing forward” digital economies in Egypt, Saudi, and the UAE. In Egypt, the biggest improvements in refund rates were seen, “indicating consumers are more certain about their purchases whereas in Lebanon their purchases may be more impulsive.” But while its 90 mn people means Egypt is the largest source of online buyers, the group is small as a proportion of the population. “Men account for 78 percent of all transactions online; in the rest of the region it’s a bit more equitable, with UAE women leading the way making 40 percent of all transactions.”

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