Significant fluctuations in online payment transactions across various sectors - Middle East News 247
July 14, 2024
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Significant fluctuations in online payment transactions across various sectors

In the aftermath of recent severe weather conditions the UAE witnessed, global payments solution provider Checkout.com has conducted a comprehensive analysis revealing significant shifts in transaction volumes across various sectors. The data sheds light on the profound impact of adverse weather on consumer online shopping behaviour and purchasing patterns.

Key findings underscore notable changes in transaction volumes particularly in sectors such as Supermarkets, Food & Drink, Vehicle Hire, and the Motoring industry as a whole. The adverse weather conditions led to a significant decrease in online payment transactions, indicating a notable shift in purchasing patterns.

Supermarkets, a vital component of daily life, experienced a marked decline of 24% in transaction volumes. Disruptions in supply chains and reduced traffic movement, attributed to individuals staying indoors during the storm period, contributed to this decline.

The food & drink sector similarly witnessed a notable decrease in transaction volumes, with online payments declining by around 11%. Furthermore, sectors such as vehicle hire and the motoring industry also experienced a 14% decline in online transaction volumes, reflecting the broader impact of severe weather on consumer behaviour and economic activity. This decline is consistent with the overall trend of decreased mobility and outdoor activities during adverse weather conditions.

Contrary to the downward trend observed in several industries, the clothing sector experienced a notable surge of 13% in online payment transactions. This increase can be attributed to consumers opting for the convenience and safety of online shopping from the comfort of their homes during the storm period.

Additionally, the hotels & accommodation sector emerged as another domain witnessing an uptick in transactions, reaching as high as 11%. This sector was directly affected by the severe weather conditions as stranded individuals had to seek alternative accommodation solutions, while others were forced to make amends as a response to their changed travel plans.

Checkout.com also uncovered a significant surge in online payment transactions within the training & education sector. The data reflects a 31% increase within this sector, a trend that underscores the growing demand for accessible and flexible learning options, particularly during periods of disruption caused by adverse weather.

Furthermore, flight tickets witnessed a significant increase in online payments amidst the severe weather conditions, reaching a remarkable 47%. This data suggested that travellers turned to online platforms to reschedule their flights or make new bookings in response to disruptions caused by the storm.

Commenting on these trends, Remo Giovanni Abbondandolo, MENA General Manager at Checkout.com, stated: “The fluctuations in online payment transactions following the recent unprecedented weather conditions highlight the dynamic nature of consumer behaviour and market conditions. Our data-driven insights enable businesses to adapt and thrive in such challenging environments.”

“As a leading global provider of online payment solutions, Checkout.com remains committed to supporting businesses with innovative tools and strategies to navigate uncertainties and drive growth,” he added.

Checkout.com continues to monitor market trends and provide valuable insights to businesses across industries, empowering them to optimize their online payment processes and enhance customer experiences.

Last Updated on 3 months by Middle East News 247

    Middle East News 247

    Middle East News 247 delivers trending business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
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