30 June 2020 iAdvisory Seminar: Digital Retail Opportunities in the Middle East
Amidst the global retail sector transformation, the Kingdom of Saudi Arabia and the United Arab Emirates (UAE) have proven to be the brightest hubs for e-commerce growth within the Middle East. The industry is set to be the key driver of economic growth and was projected to rise ahead of the global average, at an annual rate of above 20%. The e-commerce industry in the Middle East was worth US$8.3 billion (~S$11.7 billion) in 2017. COVID-19 is expected to further accelerate the growth of e-commerce in the Middle East, which has seen lower penetration rates as compared to many other regions.
Brand owners and retailers must adapt and transform into omni-channel players to weather the storm, especially as consumers are likely to continue with their online shopping habits post-pandemic. For example, Carrefour in the UAE has seen a 300% increase in online orders as a result of COVID-19. Sectors that have seen a large increase in online orders within the Middle East include essential needs such as packaged food, home care, consumer health, beauty, personal hygiene items, and consumer electronics.
Join us to hear about the technological shift in the digital retail scene in the Middle East, and how you can better prepare your market entry strategies to ride the growth of e-commerce in the region.