Salesforce has released the second edition of its State of Commerce report that shares insights from over 4,000 commerce practitioners across 25 counties, including 205 from the UAE, as well as analysis of buying data from over 1 billion customers across 54 countries, on how B2B and B2C companies are adapting to a digital-first customer engagement landscape.
Key insights of this year’s State of Commerce report include:
- Digital channel expansion is in full swing. Globally, same-site sales grew 44% between Q1 2020 and Q1 2022 at B2C companies, and 95% at B2B companies. But ecommerce sites are the tip of the iceberg as sellers race to meet customer expectations for new buying options. UAE respondents expect 53% of B2C revenue and 42% of B2B revenue to come from digital platforms within two years, up from 39% and 29% respectively at present.
- Alternative payment options are becoming table stakes. The rise of cryptocurrency as a payment option is forecasted to soar in the coming years. In the meantime, mobile wallets and installment plans
Thierry Nicault, Salesforce are seeing a big boost. 56% of UAE respondents already accept PayPal, and 55% accept Apple Pay, and 39% of respondents said they plan to accept both payment systems within the next two years.
- Investment in automation is putting data to work. With bottom lines stretched by inflation — and third-party cookies being depreciated — commerce organizations are focused on putting customer data to work in order to drive efficiency and profitability. 87% of UAE respondents say their organization is effective at using data for automating processes.
“This research reveals the rapid pace at which digital models are transforming commerce in both the consumer and B2B space,” said Thierry Nicault, Area Vice President – Middle East and North Africa, SalesForce. “It’s vital that companies involved in commerce, whether they are bricks and mortar stores or online outlets, have a clear understanding and visibility of their business, and the needs of their customers. This means having the right digital solutions and ability to capture and use their data effectively.
“The research indicates that organisations in the UAE are making huge strides as they seek to cater to fast growing demand for digital commerce, but there is still plenty they can do to strengthen their systems and gain the flexibility they need to serve digital customers as the landscape continues to evolve.”
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