Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for auto industry professionals · Sunday, June 16, 2024 · 720,401,408 Articles · 3+ Million Readers

UAE Buy Now, Pay Later Market Skyrockets to $14.6 Billion by 2027, Fueled by 43.8% CAGR and E-commerce Boom (2022-2027): Ken Research

UAE BNPL market skyrockets to $14.6 billion by 2027, fueled by 43.8% CAGR & e-commerce boom. Fashion & electronics lead (45% share). Millennials & Gen Z drive usage (68%). Report empowers stakeholders for responsible, tech-driven, and collaborative BNPL growth in UAE.

/EIN News/ -- Gurugram, India, May 23, 2024 (GLOBE NEWSWIRE) -- The United Arab Emirates Buy Now, Pay Later (BNPL) market is on a phenomenal growth trajectory! Ken Research's report, UAE Buy Now, Pay Later Market Outlook to 2027: A $14.6 Billion Boom Fueled by Digital Transformation, explores this dynamic landscape. The report predicts a stellar future, with the market value expected to reach a staggering $14.6 billion by 2027, propelled by a robust 43.8% CAGR. This press release unveils the key factors driving this surge and offers valuable insights for BNPL providers, merchants, consumers, and stakeholders seeking to capitalize on the opportunities within the UAE's BNPL market. 

E-commerce Boom Propels BNPL Adoption: 

A significant driver of the UAE BNPL market is the country's thriving e-commerce sector. Rising internet penetration, increasing smartphone usage, and a growing preference for online shopping are creating a fertile ground for BNPL adoption. Consumers appreciate the convenience and flexibility offered by BNPL services, allowing them to spread out payments for their online purchases. 

Interested to Know More about this Report, Request a Free Sample Report

Fashion & Electronics Lead the Charge: 

Currently, the BNPL market in the UAE is dominated by purchases in the fashion and electronics sectors, accounting for a combined market share of 45%. The convenience and affordability offered by BNPL services are particularly attractive for these frequently purchased, high-demand items. 

Millennials & Gen Z Account for 68% of Users: 

Millennials and Gen Z are the primary drivers of BNPL adoption in the UAE, representing a staggering 68% of the user base. These tech-savvy generations are comfortable with online transactions and readily embrace new financial technologies like BNPL. 

Seamless Integration & User-Friendly Apps: 

Convenience is a key factor driving BNPL adoption in the UAE. User-friendly mobile applications and seamless integration with e-commerce platforms ensure a smooth and convenient customer experience for BNPL transactions. 

Regulatory Framework Takes Shape: 

As the BNPL market in the UAE matures, the development of a robust regulatory framework is gaining momentum. This framework aims to ensure consumer protection, responsible lending practices, and prevent financial overextension amongst users. 

A Collaborative Approach for Sustainable Growth: 

The UAE BNPL market is poised for continued growth in the coming years, driven by several key trends: 

  • Focus on Financial Literacy: Educating consumers about responsible BNPL usage and managing credit effectively. 
  • Enhanced Partnerships: Building strong partnerships between BNPL providers, financial institutions, and merchants to expand reach and offerings. 
  • Innovation in Products & Services: Developing innovative BNPL solutions tailored to the specific needs of different customer segments. 

Why This Report Matters: 

This report empowers various stakeholders to navigate the evolving UAE BNPL landscape: 

  • BNPL Providers: Gain insights into high-growth segments, identify new customer segments, and invest in technology solutions to optimize user experience. 
  • Merchants: Integrate BNPL options at checkout to attract new customers, increase sales conversions, and boost average order value. 
  • Consumers: Utilize BNPL services responsibly, manage credit effectively, and leverage the convenience and affordability offered by BNPL for a smarter shopping experience. 

Visit this Link :- Request for custom report

Building a Thriving BNPL Ecosystem: 

By leveraging the insights and opportunities outlined in this report, stakeholders can collaborate to create a thriving BNPL ecosystem in the UAE. This ecosystem will be characterized by: 

  • Responsible BNPL Practices: Educated consumers and ethical lending practices to ensure sustainable growth. 
  • Technological Innovation: Advanced BNPL solutions offering convenience, security, and seamless integration with e-commerce platforms. 
  • Strong Partnerships: Collaboration between BNPL providers, financial institutions, and merchants to benefit all parties involved. 

The Road Ahead for UAE BNPL: 

The UAE Buy Now, Pay Later market presents a dynamic and exciting future. By working together and leveraging valuable insights from this report, stakeholders can build a more inclusive, technologically advanced, and responsible BNPL ecosystem that caters to the evolving needs of consumers and businesses within the United Arab Emirates.  

Request free 30 minutes analyst call

About Ken Research: 

Ken Research is a leading provider of market research and consulting services, offering in-depth analysis and insights across various industries. With a global network of experts and a commitment to quality research, Ken Research helps businesses make informed decisions and achieve their strategic goals.

For More Insights On Market Intelligence, Refer To The Link Below: –

UAE Buy Now Pay Later Industry

Related Reports by Ken Research: –

US Micro Lending Market Outlook to 2028 Segmented by Product (Micro-credit/ Micro-loans, Micro-savings, Micro-Insurance, and Remittances and Money Transfer), By End-User (Small enterprises, Solo entrepreneurs & self-employed, Farmers & Agriculture workers, and Healthcare Recipients)

The US Micro Lending market is expected to grow at a CAGR of 12 % from 2022 to 2028 with low-interest Rates, Ease of Access, Technological Advancements, flexible repayment schedules, and Alternative credit score models. As the market is anticipated to grow remarkably in the forecasted period thus the demand for microloans will also increase significantly.

KSA Lending Market Outlook to 2027 Driven by Government Initiatives, Adoption of FinTech, and Increased Digitalization

According to Ken Research estimates, the KSA Lending Market –in 2022 at a CAGR of 50.4% owing to growing demand for financing penetration in the sector. KSA's private consumption expenditure has risen, indicating improved living standards and reduced poverty.

Philippines Retail Deposit Market Outlook to 2027 Driven by the Financial Inclusion Initiatives by the Government and rising digital penetration

Philippine retail deposit market has been growing steadily at a CAGR of ~10% with digital penetration and convenience banking being major growth drivers. Number of Depositors in the Philippines Banking System has been growing steadily as the financial inclusion rises and the penetration of direct accounts sharply rose. Retail deposits account for ~45% of the total value of Deposits in the Philippine Banking System; Wholesale Deposits encompass a varied type of depositors with different purposes. NCR accounts for the highest penetration for the total deposit Market although only 12.4% of the population resides in this region.

Follow Us –

LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249


Contact Us:-
                    Ken Research Private Limited
                    Ankur Gupta, Director Strategy and Growth
                    Ankur@kenresearch.com
                    +91-9015378249

Primary Logo

Powered by EIN News
Distribution channels: Consumer Goods, Media, Advertising & PR ...


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release