Middle East S Noon Cashes In On China S Booming E Commerce Market

The middle east has one of the fastest growing e commerce markets in the world.

Middle east s noon cashes in on china s booming e commerce market. This is well below other emerging market peers that have an average e commerce penetration of 11. China s answer to samsung xianomi has rolled out a number of 1 500 sqft stores in dubai each the size of three basketball courts while beijing granted uae based e commerce giant noon the middle east s competitor to amazon approval to expand into china s booming e commerce market blatteis explains. Growth in the market though could be gradual when compared to. Incredibly middle east nations are ahead of more mature e commerce markets us china in terms of internet penetration that stood at 64 5 per cent in 2018 above the global average of 54 5 per.

Seeing a lot of potential in this business investments have surpassed the billion dollar mark. A look at similarweb data paints a picture that shows just how dominant souq is in the middle east. Saudi arabia is also a huge market for e commerce in the middle east with the same payfort study valuing it at 22 billion in 2016. This e commerce site is aiming to be the go to site for e commerce in the middle east.

People in the middle east still predominantly prefer cash transactions as compared to online payments with around 60 of online shoppers opting for the cod cash on delivery mode of payment. Noon cashes in on china s booming e commerce market james dartnell july 12 2018 4 28 pm july 12 2018 e commerce platform noon has announced two new entities in china heralding the launch of its asian operations. With a growth rate of approximately 25 per annum it is estimated at close to 69bn sales from a low penetration rate of 2. Alabbar s adeptio also bought kuwaiti food manufacturer americana in 2016.

They eventually launched in the fall of 2017 slightly after amazon made an announcement that they were officially entering the market.