The rise of E-Commerce in the Middle East
All of a sudden it seems as though E-Commerce is spreading like a rash, and that’s because it is! Within the past decade, we have come a long way and within the Middle East, online shopping has evolved and grown by 1500% and that’s not the last of it! Records show that Online Shopping is expected to grow at a faster rate this year (2015)!
How do we know this? Just check out some of these statistics from MasterCard…
· 44% of internet users made an online purchase within the past three months (that’s almost half!)
· 35% of internet users access the internet in order to make an online purchase, which is UP 27% from the previous year
· 83% of users are 100% satisfied with their online shopping experience
· 90% of people use the internet from their phone, which is an increasing figure, UP from 74% the previous year!
· 71% of online shoppers say that convenient payment is absolutely crucial when it comes to online shopping
We know that the Middle East during 2015 is destined to boom in E-Commerce, as all of the above stats are on the rise by a significant amount from the previous year. Technology is only getting better and faster, so more of us are more inclined to join the bandwagon. Currently, E-Commerce is growing around the rate of 20% annually, and a lot of this stems from recent spending with around a 40% growth between 2012 - 2015
Not only do MasterCard have some impressive figures, but according to PayPal’s report, the e-commerce market in Middle East will grow from $5 billion in 2011 to $15 billion in 2015.
We’re looking forwards to hearing plenty of success stories from the Middle East and how they’re using E-Commerce to grow their businesses!