At least 43 per cent of surveyed UAE consumers are shopping less in stores despite an easing of restrictions across the country.
That's according to a survey conducted by Dubai Police, Dubai Economy and Visa as part of the ‘Stay Secure’ campaign designed to raise awareness about online safety.
The study showed that ecommerce sites that allow and display customer reviews, seamless refunds and a variety of payment options performed better in building high levels of consumer trust.
It also reported an uptick in consumer trust online, which comes after an earlier survey from the same campaign revealed that four in 10 consumers experienced online fraud in the past year.
According to the new stats, more than a third (37 per cent) of UAE consumers would rather switch retailers or shop on another site (35 per cent) than wait if there were delays in completing their online purchase.
Furthermore, almost one in two consumers abandon their shopping cart if they experience a delay or authentication error.
A majority (57 per cent) are also more open to store their card information on merchant sites if this helps to improve or speed up their shopping experience.
The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).
China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.
Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump's sweeping tariffs would tip the global economy into a recession.
US stock index futures tumbled on Thursday after President Donald Trump's sweeping tariffs on major trade partners heightened fears of an all-out trade war that could push the global economy into a recession.