Ken Research announced its most recent production on, “Online Retailing in Middle East and Africa, 2015-2020; Market Dynamics, Retail Trends and Competitive Landscape,” which offers insights on the changing trends and significant issues inside the Middle East and Africa Online Retail market. The publication includes a keen analysis of the latest trends in online consumer shopping, covering the factors driving web based shopping, consumer bits of knowledge, market progression and reviews of the latest best practice in online retail site design. It likewise gives information for historic and forecast online retail sales. The report covers five countries in the Middle East Asia and Africa where identified the largest and fastest growing category and furthermore have also covered the competitive landscape of the significant players in the market. It has provided in-depth analysis of the latest trends, market dynamics and key innovations of ten specific categories in retail sector in major countries across the region.
Monetary development in the Middle East and North Africa (MENA) is stagnating. The World Bank ventures overall GDP development to be under 3% for the current year.
In the US online accounts for retail sales have been uplifting and therefore the market share of Amazon is greater than Walmart there and China at the other hand, is home to six of the twenty largest internet organizations across the globe; many of them – like Alibaba and the B2C retailer JD.com – have their roots in ecommerce. MEA is the smallest ecommerce market in the world. In Latin America, the second-smallest ecommerce market, online buyers will spend over US$50 billion more than twice what is being spent in this region. But development in the area is faster than in many other regions across the globe, except Asia-Pacific, where B2C e-commerce in China is growing at a rapid speed. The maximum number of Internet users in the Middle East and Africa is estimated to be in Egypt, followed by Morocco and Saudi Arabia. However, Internet penetration was at its top in Qatar and the United Arab Emirates. Online shopping in the Middle East and Africa region boomed especially as a result of group buying websites.
Despite substantial development in the Middle East over a couple of years the region is still behind a number of other emerging regions in the ecommerce shares. The reasons of such an event include: In a region with no postcodes and usually no home postal service, delivering things to consumers used to be a major headache for businesses. Despite the Middle East is home to huge numbers of SMEs, most of them don’t own a website and even don’t have an intention of getting one. Even big multinational organisations, like the French retailer Carrefour, have a very limited online presence in the region. Social and cultural dimensions stay imperative for Middle East consumers, including the region’s digital native. However many people still prefer to buy in person, where they can negotiate and draw on long-term business relationships; few dynamics which are also possible in the same way online
Political instability is a major issue which may hamper not only the economic growth potential, but might also block initiatives to promote internet usage, development of e-services and consequently also affects the growth potential of e-commerce. The social uprisings that emerged in the region are indicative of the threats that low living standards and lack of political freedom pose to long-term sustainable stability.
Topics covered in the Report
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Ankur Gupta, Head Marketing & Communications