Saudi Arabia Leads Region in E-Commerce Market Attractiveness, According to a New Report by yStats.com
The latest report from yStats.com "Saudi Arabia B2C E-Commerce Market 2016" reflects that even with the decrease in petroleum based revenue, the country's retail market is sound, and online retail is growing faster than brick and mortar sales.
Hamburg, Germany, April 25, 2016 (Newswire.com) - Saudi Arabia leads the other countries of its region in E-Commerce market attractiveness, as shown in the yStats.com research. Even though neighboring UAE has a higher online sales volume and Internet penetration, factors contributing to the high attractiveness rating for Saudi Arabia include the population growth and a burgeoning retail market overall, encouraged by the government drive to move beyond a petroleum-centered economy. The value of B2C E-Commerce transactions in the country is expected to double in five years to 2020.
One challenge to the growth of online retail in Saudi Arabia is the dependence on cash-on-delivery as the predominant method of payment. Over half of Internet shoppers pay with cash, though payment with plastic is gaining traction, according to yStats.com research, as card ownership is widespread and issuers are offering special products for B2C E-Commerce.
The yStats.com report indicates that the leading product categories purchased by online shoppers in Saudi Arabia are electronics and fashion items. Local online retailers that benefit from these preferences are Jarir.com, which sells electronics and books, and Namsi.com, seller of clothing and accessories. Saudi Arabian shoppers’ most popular website however is the UAE’s Souq.com.
For further information, see: https://www.ystats.com/wp-content/uploads/2016/04/20160412_Product-Brochure-Order-Form_-Saudi-Arabia-B2C-E-Commerce-Market-2016-by-yStats.com_.pdf
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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.
Source: yStats.com