MENA e-commerce market seen to top $6.7bn in 2017
Growth attributed to region’s young population with high disposable income and high internet penetration rate
The MENA e-commerce market’s total value is forecasted to hit the $6.7bn mark this year, up from $4.8bn in 2016, according to the latest market estimates by MyUS, an online marketplace for US merchandise.
The industry stood at $3.8bn in 2015, the report adds.
Excluding non-US direct retailers or spending on hospitality and e-services, the report shows that American direct retailers have accounted for the largest percentage of the region’s e-commerce market over the recent years.
Ramesh Bulusu, MyUS CEO, said: “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. 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 is an American shipping firm that lets international businesses and consumers shop any US website and receive their packages in as fast as 2-4 days. The company serves members in 220 countries and territories, including Saudi Arabia, Egypt, Bahrain, Kuwait, Lebanon, Qatar, and the UAE. The company says it can offer Arab shoppers virtual access to US retail stores for American brands that do not yet ship internationally.