Latest news with #digitalspending
Khaleej Times
7 days ago
- Business
- Khaleej Times
UAE spending surge anticipated heading into Dubai Summer Surprises 2025
As the UAE gears up for another season of Dubai Summer Surprises (DSS), new data reveals a sharp increase in digital spending during last year's campaign, with signals pointing to even greater momentum this summer. The number of daily digital transactions in the UAE jumped by 25% year-on-year during the DSS 2024 period, while consumers also spent more per transaction, with average ticket sizes growing by 16% year-on-year, according to data from A closer look at the data uncovers deeper consumer behaviour shifts. Spending on interior furnishings rose notably last year, suggesting that many residents used the summer period and DSS sales as an opportunity to upgrade their homes. Recreation-related categories also spiked, indicating an increase in families opting for local leisure experiences during the school break. The toys and sporting goods sector saw heightened activity as parents looked to keep children engaged through the hotter months, while education spending climbed as families paid school tuition and stocked up for the academic year ahead. Notably, the automotive category also saw a summer boost, driven by seasonal promotions on vehicles and related services. own processing volumes in the UAE rose by 44% during last year's DSS, reflecting a broader shift toward online-first lifestyles and growing consumer trust in digital payments across high-intent seasonal moments. These insights are consistent with latest State of Digital Commerce in MENA 2025 report, which found 62% of UAE consumers plan to increase their online shopping next year, and 44% now say that they shop for better options online even while browsing in-store. 'Dubai Summer Surprises continues to act as a key catalyst for digital commerce in the region,' said Remo Giovanni Abbondandolo, General Manager for MENA at 'From household upgrades to family recreation and back-to-school prep, the data shows UAE consumers turning to digital channels to meet both everyday needs and high-value purchases. With the growth we've seen year over year, we expect 2025 to break even more records.' As the region continues to lead in digital commerce adoption, the summer months are proving to be peak moments for merchants to connect with digitally savvy consumers driven by speed, convenience, and seamless online experiences.
Zawya
02-07-2025
- Business
- Zawya
UAE spending surge anticipated heading into Dubai Summer Surprises 2025
Dubai, UAE – As the UAE gears up for another season of Dubai Summer Surprises (DSS), new data from reveals a sharp increase in digital spending during last year's campaign, with signals pointing to even greater momentum this summer. The number of daily digital transactions in the UAE jumped by 25% year-on-year during the DSS 2024 period, while consumers also spent more per transaction, with average ticket sizes growing by 16% year-on-year. own processing volumes in the UAE rose by 44% during last year's DSS, reflecting a broader shift toward online-first lifestyles and growing consumer trust in digital payments across high-intent seasonal moments. A closer look at the data uncovers deeper consumer behaviour shifts. Spending on interior furnishings rose notably last year, suggesting that many residents used the summer period and DSS sales as an opportunity to upgrade their homes. Recreation-related categories also spiked, indicating an increase in families opting for local leisure experiences during the school break. The toys and sporting goods sector saw heightened activity as parents looked to keep children engaged through the hotter months, while education spending climbed as families paid school tuition and stocked up for the academic year ahead. Notably, the automotive category also saw a summer boost, driven by seasonal promotions on vehicles and related services. These insights are consistent with latest State of Digital Commerce in MENA 2025 report, which found 62% of UAE consumers plan to increase their online shopping next year, and 44% now say that they shop for better options online even while browsing in-store. 'Dubai Summer Surprises continues to act as a key catalyst for digital commerce in the region,' said Remo Giovanni Abbondandolo, General Manager for MENA at 'From household upgrades to family recreation and back-to-school prep, the data shows UAE consumers turning to digital channels to meet both everyday needs and high-value purchases. With the growth we've seen year over year, we expect 2025 to break even more records.' As the region continues to lead in digital commerce adoption, the summer months are proving to be peak moments for merchants to connect with digitally savvy consumers driven by speed, convenience, and seamless online experiences. About processes payments for thousands of companies that shape the digital economy. Our global digital payments network supports over 145 currencies and delivers high-performance payment solutions across the world, processing billions of transactions annually. We help enterprise merchants boost acceptance rates, reduce processing costs, combat fraud, and turn payments into a major revenue driver. Headquartered in London and with 19 offices worldwide, is trusted by leading brands such as Alshaya Group, Botim, eBay, Dyson, Hunger Station, Instashop, Qlub, Majid Al Futtaim, Netflix, SHEIN, Sony and Tamara.
Forbes
10-06-2025
- Business
- Forbes
Gen Alpha: How Digital Natives Are Redefining Finance And Retail
Rupert Lee-Browne is the chairman and chief executive of payments fintech Caxton, which he founded in 2002. The way Gen Alpha children (born from 2010-2024) interact with money is a seismic shift. We're witnessing the rise of "cashless kids," a generation managing finances digitally through apps and prepaid cards rather than piggy banks. This is a fundamental reshaping of consumer behavior with profound implications for brands, retailers and financial institutions. In our business, we've analyzed over 33.5 million transactions by children aged 5 to 18 across six years, totaling £250 million (approximately $337 million) in spending. This research uncovers keys insights into the future of commerce and the evolution of young consumers. These 33.5 million transactions represent real-world spending decisions and reveal valuable insights into the preferences and brand interactions of young digital natives. This data-driven approach allows us to identify concrete trends shaping the future of finance and retail, and provides insight into spending patterns across different age groups. The shift to cashless spending has far-reaching consequences for brands. As the saying goes: "The best time to plant a tree was 20 years ago. The second-best time is now." This wisdom applies perfectly to brands seeking to connect with young consumers. Early engagement creates opportunities for building lasting relationships. Our data shows that average annual digital spending per child increased from £164 ($221) in 2017 to £367 ($495) by 2023. Younger children experienced more significant percentage increases in spending power compared to older teenagers, who likely supplement pocket money with part-time employment. As children mature, their spending diversifies remarkably. Six-year-olds spend within approximately 17 categories, but by age 15, this expands to 185 categories, including services from beauticians and barbers to record stores and country clubs. This highlights the importance of early and consistent brand engagement. The brands that will succeed understand how different age groups spend their money and tailor offerings accordingly—focusing not just on products but on the entire digital experience. Gen Alphas are not just consumers; they are active architects in the fintech revolution. Their early adoption of digital finance tools is shaping their understanding of money and financial management. Gaming and online retail dominate their spending. Gaming accounts for 32.6% of spending, while online shopping via platforms such as Amazon Marketplace accounts for 27.2%. This generation is growing up in a world where digital transactions are the norm, influencing the development of financial products and services. For businesses, understanding and engaging with Gen Alpha is imperative. Their influence extends beyond direct spending; they significantly impact household purchasing decisions. A global study indicates that Gen Alpha influences 27% of their household's nonessential monthly spending, with an emphasis on digital products and services. The data reveals several key insights valuable for businesses and policymakers: • Rising digital spending power: From 2017 to 2023, the average spending per child grew by more than 123%, outpacing inflation. • Gaming and online retail dominance: These categories account for a significant portion of children's spending, highlighting the importance of digital platforms for engaging this demographic. • Need for financial literacy: Children spend a high percentage of their pocket money (approximately 88%). Robert Kiyosaki is widely quoted as saying, "It's not about how much money you make, but how much money you keep." This highlights the need for financial education initiatives. • Increased financial sophistication: Young consumers require not only engaging products but also responsible corporate citizenship that ensures online safety and promotes financial literacy. Parents play a crucial role in this ecosystem. Digital payment platforms can be valuable tools for parents to guide their children's financial exploration in a safe, controlled environment. Policymakers must prioritize initiatives that promote financial literacy and protect young consumers from online fraud and exploitation. The rise of Gen Alpha represents a fundamental shift in how we interact with money and commerce. By understanding the insights revealed by our data, businesses, parents and policymakers can work together to empower young consumers, foster healthy financial habits and shape the future of finance. By embracing personalization, ethical practices and seamless digital experiences, companies can effectively navigate the evolving landscape shaped by Gen Alpha's economic influence and prepare the next generation for financial success in an increasingly digital world. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
