Dubai, UAE — E-commerce in the GCC, according to a recent research report, has expanded by 22 percent over the previous two years, with over 46 percent of online buyers in Saudi Arabia and the UAE planning to continue relying on online retail stores rather than visiting shopping malls.
Amazon indicated that Saudi Arabia and the UAE lead e-retail sales in the GCC. At the same time, Egypt plays a pivotal role in the success of the sector in the African continent.
According to the Boston Consulting Group (BCG) report, “Global Payments 2022: The New Growth Game,” GCC countries will also witness a decrease in non-digital payments.
The UAE will likely remain the top e-commerce market in the Gulf Cooperation Council (GCC) in 2023, but Saudi Arabia represents the largest potential growth over the medium and long term.
TRENDS takes a look at the prospect of e-commerce in GCC: