Online shopping has gained tremendous traction worldwide. The e-commerce trade across the Middle East has witnessed a huge transition and has increased by a whopping 1500 percent over the past 10 years.
As per a report by BMI Research, the e-commerce market in the Middle East is forecasted to be $26.9bn in 2018 and will reach $48.6bn in 2022. Saudi Arabia and the UAE will remain the fastest growing e-commerce markets in this region. Further, the report states some of the significant reasons for the growth of e-commerce in these two countries include young adult population who are digitally savvy, high purchasing power, growing number of 3G/4G subscribers among others.
- E-commerce market size in different countries of Middle East
- Government initiatives such as migration of paper-based services like logistics tracking, vehicle licensing and utilities billing to online platforms and integration with online payment platforms have been instrumental in building the trust of consumers in online shopping systems and e-commerce.
- The UAE government has set up Matajircom, a duty-free e-commerce hub. This is a major initiative of the government towards the expansion of e-commerce in the Middle East and proliferating e-commerce in Dubai. The aim of this hub is to work closely with international and regional organizations and bring international, national, and local e-commerce markets closer together with Dubai.
- Moreover, driven by the vision to accelerate commercial activities and creating limitless possibilities for new sales channels, Dubai will host the World Expo in 2020. The event will positively impact the economic growth and development of Dubai in the long-term as it is expected to bring in foreign investments, prop up the international image of Dubai, foster meaningful partnerships and innovation for a diversified economy, and benefit the infrastructure development.
- How Ranosys can help you create a digital presence by leveraging the power of Magento?
- Established in 2008, Ranosys, a leading digital commerce agency in the EMEA regions, the UK and Singapore, is keen to help retailers and merchants across Dubai and the Middle East leverage the growth opportunities with its e-commerce and Magento expertise. Our agile methodologies, analytics-led approach, and design-led engineering are geared to help you embark on a digital transformation journey and provide omnichannel experience to your customers. As a Magento Professional Solutions Partner with a team of 250+ professionals, Ranosys offers scalable, robust and best-in-class Magento solutions to brands across B2B and B2C segments.
- Our Magento offerings include Commerce Consulting, Migration to Magento Commerce Cloud, Mobile Commerce, Magento B2B Marketplace Development, Support and Maintenance Services. Ranosys has worked with some of the largest brands, including Charles & Keith, BlackBerry, McDonald’s, Bloom Intelligence, and Veolia to name a few, and helped them strengthen their brand image and enhance the business growth.
- If you are looking for a trusted IT partner for your business growth in Dubai, Saudi Arabia, and the UAE, connect with Ranosys to know more about their services.
