Souq.com calls on SMEs to set up shop online

It costs just 35 dirhams a month to run a virtual Souq Store

Tags: E-commerceOnline tradingSMBSouq.comUnited Arab Emirates
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Souq.com calls on SMEs to set up shop online Ronaldo Mouchawar, CEO of Souq.com
By  Vineetha Menon Published  July 12, 2010

Souq.com is urging owners of small and medium enterprises to set up a virtual store using their platform instead of investing in a physical store in the country.

The firm says that setting up an online store on Souq.com saves owners the "hassles of initial capital investment, legal work and technology/physical infrastructure".

It costs just AED 35 (per month) to run a Souq Store. Owners however need to abide by certain terms and conditions including maintaining a minimum of ten simultaneous listings, offering a warranty of atleast 30 days on products and committing to handle customer disputes, and making sure their feedback rating is 98% positive or higher at all times, unless the business is one that is registered in the United Arab Emirates.

"Startups need solid technology platforms, technical assistance and market exposure to develop and grow their businesses", said Ronaldo Mouchawar, CEO of Souq.com. "We believe that we can address these needs and bring value to regional entrepreneurs, by providing fast and easy access to their products with no upfront costs and minimal eligibility requirements. Additionally, this will also provide start-ups with increased visibility to potential investors, clients and partners to help accelerate business success and thereby foster innovation and encourage entrepreneurship in the Middle East."

Souq.com, which was launched in 2005, now boasts more than 500,000 active buyers and sellers in the region, with over 1.5 million visitors to the site every month.

1712 days ago
Keith Dela Pena

how can make sure that all the gadgets in souq online are really original or genuine?because the prices are very cheap.i really want to buy in souq online but i was confused because at the back of my mind asking if its original.

2683 days ago
Ron

They should also point out the fact that they don't have methods to actually verify customers and thus coz purchases 10% of the time to get cancelled and souq.com does nothing to protect the sellers! Online stores are never really advertised and souq.com comparing to a real retail store is just silly, a start-up having their own website has to work hard in getting their name out there, using souq.com as a medium is not really gonna gain them any traction other than a few items here and there. They don't even have a proper accounting system especially in the case of refunds. Companies are better off actually putting up their own websites and not relying on third party traders to aid them!

2683 days ago
Sujin Balakumaran

Fantastic!!!! Why they are waiting for implement / demostrate a solid platform online sale with some reliable channels like Plugins / EMax Connected with EMPOST online account for Consumer Electronics, and other online sales friendly products. This will work out very well in UAE cities where the traffic is a big issue and customers will be happy to shop and receive things sitting at home. Personally I buy a lot using Aramex Shop and Ship from stores like Amazon, etc. Hope souq.com will give a pleasant experience for UAE based buyers on a wide range of products.

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