The e-commerce sector in the Middle East and North Africa (MENA) region has witnessed a remarkable surge in business over the past 10 years. Studies reveal that the maximum growth is noticed in the GCC market, which has recorded around 1,500 per cent rise in the trade. The e-commerce zone is expected to expand further in 2017 with exponential growth in the booming Middle East market.
A recent report by online shipping trader MyUS cited that the regional market is expected to garner a revenue of $6.7 billion this year from last year's $4.8 billion mark. The net value of the industry was stalled at $3.8 billion in 2015. Trade analysts have predicted that the online sales will receive a massive growth in the next couple of years with UAE being the largest e-commerce markets.
“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,” said Ramesh Bulusu, CEO, MyUS. “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 renders services across 220 countries with over 400,000 registered members including Bahrain, Kuwait, Lebanon, Saudi Arabia, Egypt, Qatar, and the UAE. The Gulf states are expected to experience extensive growth in the market with a recording-breaking collection in the e-commerce. The online market is not just confined to apparels and accessories but has expanded to food, transport service, and other varieties, which have been adding up to the net revenue. Entrepreneurs have been making smart moves by creating attractive business models to draw the interest of the consumers and offer them a wide range of luxurious commodities. The market has undergone significant changes in 2017 and is likely to keep the revenue bar rising.