Saudi Arabia E-Retail Market to Grow with a steady pace until 2026
Surge
in demand of in home shopping is driving the growth of Saudi Arabia E-Retail
Market in the forecast years.
According to TechSci report on, “Saudi Arabia E-Retail Market By Segments (Apparel & Footwear, Groceries, Electronics &
Appliances, Home Furnishing & Furniture, Others) By Region, Competition
Forecast & Opportunities, 2026”, Saudi
Arabia e-retail market
has shown promising growth in historical years until 2019 and is expected to
continue its growth in upcoming forecast years 2021 to 2026. Saudi Arabia e-retail
market owes its growth to the factors like growing feasibility and product
availability on the online portal along with the increasing disposable income
among the youth population. Moreover, government of the country has laid
certain policies and rules to benefit the sellers, distributors, consumers and
online portals altogether. The government aid has strengthened the market
position exponentially in the last five years and is anticipated to enhance the
same in forecast years too. The Kingdom of Saudi Arabia is the largest country
in the GCC countries and one of the top 20 richest countries in the world. The
disposable income among the young population along with the surge in demand of
imported goods from the other countries is driving the market growth of the
Saudi Arabia e-retail market in the next five years.
E-retail market
has recently started expanding its shares in the country at a rapid rate. With
various payment methods available for the consumers the market is showing a
robust growth in its shares. Various payment methods available for the
consumers involve, cash on delivery, cards & wallets, online payment
through net banking, etc. The convenience of paying for the products and
services without even having to commute to the stores and outlets is a major
driver for the market growth.
Various devices
like smart phones, laptops, I-pads, etc. are also influencing the market
growth. Mobile phones, with the high speed internet can be termed as the
responsible factor for market growth. Saudi Arabia has one of the highest
smartphone penetrations in the world, the factor coupled with the rising
disposable income provides the technologically savvy consumers the experience
of swift and fast shopping. Security concerns for the payment mode can be
handled with the aid of cyber security services thereby strengthening the
market growth further in the forecast period.
Browse over XX market data Figures
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Market"
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Saudi
Arabia e-retail market is segmented on the basis of segments, regional
distribution and competitional landscape. Based on segments, the market is
further fragmented into apparel & footwear, groceries, electronics &
appliances, home furnishing & furniture, and others. Apparel & footwear
segment is anticipated to dominate the market segment in the upcoming five
years. The market growth can be attributed to availability of the international
brands and presence of latest worldwide trends on the online platforms. These
online platforms, run their own discounts and sales offers are major drivers of
the market segment. Groceries are also expected to hold a significant share of
the market owing to the daily requirements of the products and their
availability of fresh products and home delivery services provided by the
online portals. Schemes and offers like one-day delivery or lightning fast
delivery are some of the offers that lures the consumers in demand of products
and services in urgent basis. The ability to compare the product range as well
as the best prices of the products is a major influencing factor of the market
growth of the sub-segment electronics & appliances.
Some of the top
players in the Saudi Arabia e-retail market are, Noon AD Holdings One Person
Company LLC, Souq.com (Amazon), Alibaba Group Holding Limited, Jarir Marketing
Company, Wadi.com, Al Tayer Group Holding Company, Gulf Marketing Group Holding
Company, Alshaya Group, Majid Al Futtaim Retail, Chalhoub Group, among others.
The companies are involving themselves into research and development for the
methods of better quality, and various quality analysis tests to provide the
better products.
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“Recent outbreak of COVID-19 virus disrupted the offline retail market
all over the world. Although lockdown was short lived in Saudi Arabia, the
sudden closing of the market gave e-retail market plenty of room to bloom. With
the immediate effect, consumers shifted to the online portals that provided
desired product at reasonable prices and delivery services that promised safety
and security gave the anticipated boom to the market growth. New players may
work on the strategies of partnerships and better delivery services along with the
more secure payment procedures and return policies to assert their presence in
the market,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Saudi Arabia E-Retail
Market By Segments (Apparel & Footwear, Groceries, Electronics &
Appliances, Home Furnishing & Furniture, Others) By Region, Competition
Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi
Arabia e-retail market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Saudi Arabia e-retail
market.
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