Driven by young demographics with high disposable income and high internet penetration rate, the Mena region’s e-commerce market value is set to hit the $6.7-billion mark this year, up from $4.8 billion in 2015, a report said.
The Middle East’s e-commerce sector has skyrocketed by 1,500 per cent over the last 10 years, highlighted MyUS, a leading facilitator for Mena consumers who want to purchase US merchandise online.
Leading this climb is the GCC market, which, as per global consultancy firm AT Kearney, is expected to be valued at $20 billion by 2020.
Excluding non-US direct retailers or spending on hospitality and e-services, the MyUS report shows that American direct retailers have accounted for the largest percentage in the region’s e-commerce market over the recent years.
Ramesh Bulusu, MyUS chief executive officer, said: “The Middle East, and the GCC region in particular, is expected to see continued aggressive e-commerce growth in the coming years, so it’s natural that many local and regional businesses are looking for ways to help their customers have access to American online retailers. This is where we can help – our expertise in logistics and shipping hundreds of thousands of packages from the US to the region makes us a perfect partner for these local and regional players.”
MyUS is the number one consumer rated American shipping firm that lets international businesses and consumers shop virtually any US website and receive their packages in as fast as 2-4 days. It serves members in 220 countries and territories, including Saudi Arabia, Egypt, Bahrain, Kuwait, Lebanon, Qatar, and the UAE.
MyUS reaffirmed that GCC states will particularly enjoy stronger e-commerce industry growth given its vibrant economic fundamentals. It added that the increasing preference of their young population with high disposable income to shop online is a great game changer and influencer in the market’s steady development in the coming years.
Aside from serving the Middle East region, MyUS also serves key international markets throughout Europe, Asia, and Africa. – TradeArabia News Service