Over the previous few years, the Saudi Arabia economy has witnessed unprecedented development. Together, the National Transformation Program (NTP) and Vision 2030 envisage a multi-faceted economic development, both of which set out important plans to help achieve this goal. Enabling financial diversification, driving growth in the SME segment and fostering innovation and entrepreneurship is at the core of these goals, and developing the e-commerce industry as part of the NTP will add additional fuel to these economic development plans.
According to this recent Renub Research publication, Saudi Arabia Ecommerce Market is anticipated to surpass US$ 25 Billion by the end of year 2026, driven by increasing mobile and internet penetration, advances in technology such as big data & cloud-based e-commerce platforms, sophisticated shipping and payment options, and increasing disposable revenue. In addition, internet payment choices offer an important chance for Saudi Arabia E-Commerce market.
Convenience is the main driver of the general development of the online shopping industry in the hot weather of Saudi Arabia. Using the search engines and applications, it is simpler to navigate through different product classifications. Consumers find it difficult during their hectic timetable to visit retail shops. E-commerce shopping enables customers to shop for 24 hours sitting in-home or at the office. Besides, door-step delivery of the product is produced to remove transportation problems.
Trends have shown that in comparison with retail shops, products available online are lesser in price. The other primary factors expected to drive internet buying are discounts, offers, and cash-on-delivery facilities for online retailers. Initiatives of companies like Amazon, Emmar Group and Jarir Marketing are also a growth factor for Saudi Arabia ecommerce market.
Renub Research report titled "Saudi Arabia Ecommerce Market, Penetration, Users, Average Revenue Per Users (ARPUs) Forecast by Segments (Food & Personal Care, Furniture & Appliances, Toys, Hobby & DIY, Electronics & Media and Fashion), by Payment Methods (Bank Transfer, Cards, Cash on Delivery and E-Wallet), Company Analysis ( Amazon (Souq), ebay, Namshi, Noon and Jarir Marketing (Bookstore))” provides an all-encompassing insights of Saudi Arabia Ecommerce Market.
Fashion and Electronics & Media Segments hold the major market share in Saudi Arabia Ecommerce Market
Complete analysis of 5 segments Food & Personal Care, Furniture & Appliances, Toys, Hobby & DIY, Electronics & Media and Fashion is given in the report. Fashion and Electronics & Media segments hold significant market share in the market.
Payment methods are dominating by E-Wallet and Cards in Saudi Arabia
Payment methods like Bank Transfer, Cards, Cash on Delivery and E-Wallet are covered in this research report. Saudis are using Cards and E-Wallet for online payment in Saudi Arabia market.
Company Analysis – Overview, Recent Developments and Global Revenue
Amazon (Souq), ebay, Namshi, Noon and Jarir Marketing (Bookstore), are some of the big companies operating in the Saudi Arabia Ecommerce market; which has been analyzed thoroughly in the report.
- Food & Personal Care
- Furniture & Appliances
- Toys, Hobby & DIY
- Electronics & Media
By Payment Methods
- Bank Transfer
- Cash on Delivery
- Amazon (Souq)
- Jarir Marketing (Bookstore)