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GCC B2C E-Commerce Market 2018

GCC B2C E-Commerce Market 2018

  • February 2018
  • 105 pages
  • ID: 5346685
  • Format: PDF
  • By yStats - Global E-Commerce Intelligence

Summary

Table of Contents

B2C E-Commerce in the GCC to double by 2020 says yStats.com report

A new market report, “GCC B2C E-Commerce Market 2018,” has been released by online business research firm yStats.com of Hamburg, detailing the current status and projections for online retail sales in the six nations comprising the Cooperation Council for the Arab States of the Gulf (GCC). The publication includes a forecast that online retail sales volume in 2020 will be twice the level of 2017.

There is much room for growth of B2C E-Commerce in the Cooperation Council for the Arab States of the Gulf (GCC). Online retail makes up only a small single digit percentage of total retail sales in even the UAE, the current online sales leader of the group.

Surveys cited in the yStats.com report suggest that many potential shoppers in the well Internet connected nations of the GCC do not trust B2C E-Commerce nor online payment methods. 

Because of the low online shopper penetration in the recent past, growth rates are expected to be robust over the next few years, amounting to more than 100% growth in sales in 2020 compared to 2017. Investments in the region by Amazon.com as well as efforts of local merchants are making shoppers aware of the opportunities and benefits of online purchasing.

The UAE and Saudi Arabia are the current leaders in online sales volume in the Gulf Region, and with a higher growth rate, the Kingdom is forecast to overtake the UAE in the number one position by 2020. Although smaller in size, online retail markets in other countries of the region are also expected to show strong growth, according to projections in the yStats.com publication.

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