Middle East e-commerce profits have surged 4-fold in the last five years
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The E-commerce platform is flourishing in the market and is intended to be the most commonly used shopping platform for both the buyer and the seller. This is one of the fast profit-generating sources skyrocketing to $20 billion by the end of 2020 in the Gulf Cooperative Council counties.
If we look at the past, e-commerce hardly generated a profit of $5billion in 2015, less than the present scenario. Middle East North Africa (MENA) probability of generating revenue sales by 2022 is $48.6 billion.
Many companies like Go-Global and others in some Middle East countries like the United Arab Emirates have high expectations of raising the audience’s purchasing power and establishing a solid connection with the manufacturer to cling to their choices. These strategies will be successful when the youth are governed more by smartphones. Smartphones make the present generation more versatile for the latest version of the brand products.
Currently, UAE, Saudi Arabia, and Egypt together make about 80% of the digital market in the MENA. The maximum utilization of cell phones to scroll the e-commerce platform has skyrocketed to serve the online shopping purpose of the consumers.
The social media expansion has made the digital market more user-friendly, and consumers get more addicted to it to get the expectation fulfilled. The e-commerce platform gets more exposure to social media in such ways and focuses more on customer-oriented satisfaction.
Most of the new opportunities to grow well in the e-commerce sector are Facebook and Instagram. As per the survey, 70% of the digital purchasing of the consumer in MENA finds their way through social media platforms like Instagram and Facebook. Around 59% use Instagram to find new buyers or retailers to expand their business.
Amid the pandemic, the e-commerce sector leaped over the crowd to get things at their door and prevent themselves from exposing to the public. Because of this pandemic, the older generation who distanced themselves from the online purchasing concept was widely covered in the frame to keep themselves safe and secured. The smartphone has dominated the market and made online strategies their prior responsibilities to satisfy customer greed. Such performance strongly favors the consumer to get a lot of stuff added to their collection.
In the current scenario, all the grocery retailers, restaurants are heading towards the digital market to get the sales done quickly, providing all sorts of luxury. It is quite acceptable that online sources are user-friendly and convenient to access the website or mobile application at fast hand without many queries.
The e-commerce agency put all its efforts into building the platform to maintain transparency with the consumer in a broader perspective. The pandemic has made the process further easy by updating the medium vividly and diversely to catch the customer’s attention.
The e-commerce owner makes strategic ideas to drive the market smoothly with the advancement of the customer choices and desires. The platform eliminates the middlemen to cut the high price of the products and get the stuff at a reasonable rate to enhance the sales to the utmost level. The technical glitches are also a reason to sort out automatically to gain the consumer trust with the availability of the products at times of need.
In case the stock runs out, the software automatically displays the detailed information of the goods and stuff as per the availability of the same. Direct contact with the manufacturer makes the marketing easy for both the buyer and the seller to stay tuned with each other.
The critical factor behind the growth of the e-commerce platform is entirely based on the size of the population that any particular state carries. The demographics of the state show the growth scale of the e-commerce platform in a dynamic manner. The size of the UAE market is less than India and UK. At the same time, the demographics of the GCC and Saudi Arabia can set the digital platform’s operation holistically.
The youth are more attentive to the new opportunities flourishing in the market and set the business model as per the consumer demand to chase them more for the shopping and adding stuff in their cart without many worries.
Undoubtedly, every e-commerce platform undergoes lots of tough times to settle themselves well in the market and make that a habit for the audience to stay connected to them for long. There are a lot of innovative ideas and a list of choices for the upbringing of the online market and making people worthy of it. Without loyalty and trust, none of the business models will grandly achieve success. To blow the whistle high and hit success, the e-commerce platform has to be more customer-centric and user-friendly to enhance the online ecosystem world-widely.
The call is to come up with creative ideas in UAE to bang the e-commerce platform here to gain user confidence and adopt the capability of such innovative strategies to establish a to and fro market.
In the case of the Middle East, the e-commerce platform suffers trust issues in terms of the transaction, sharing of personal details, and excellent customer feedback. The time is to provide legitimate transparency with the customer to win their hearts and ensure they get free from any fraud. All the payment modes and personalized information are preserved safely and securely without any leakage.
The intention to provide such services is to provide a better shopping experience and quality products at their doorstep without much effort. The digital landscape is quite competitive to handle the market pressure and move forward efficiently. Interestingly, the regional e-commerce business model has more opportunities, approximately 2-3%, to make the market attractive and go global gradually. I hope this information is quite relevant to fulfill your appetite to make the e-commerce platform more eye-catching and easier to use for a more significant source of revenue.
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