KSA’s e-commerce market to hit the $200-bn mark by 2030


December 21, 2023 | By RetailME Bureau

KSA’s e-commerce market to hit the $200-bn mark by 2030Internet Shopping, Sitting On Floor With Shopper Bags, Laptop And Credit Card

The Kingdom of Saudi Arabia (KSA) is positioned as a global leader in digital maturity with internet penetration exceeding 95%. Saudi Arabia is expected to reach ~$60 billion in digital economy sales by the end of 2023, consulting firm Redseer estimates, touching the $200-billion mark by the turn of the decade (2030).

KSA stands as a pivotal market, driving around 45% of the entire digital economy in the Middle East and North Africa (MENA) region. For perspective, the Kingdom is projected to surpass 20 million digital economy users by 2030. The impetus behind this growth includes a burgeoning population, robust government support and a flourishing entrepreneurial culture. Further, the rise of sectors such as online retail, foodtech and fintech, among others has contributed to the development of a resilient and sustainable startup ecosystem.

Interestingly, even though Saudi Arabia is a large country, the majority (>70%) of the online market is fuelled by cities such as Riyadh, Jeddah and the Eastern region. Both digital natives, including noon, Jahez, Hungerstation, Amazon, Careem and Tamara, as well as omnichannel operators such as Carrefour, Cenomi, 6thStreet.com and Centrepoint to name a few, have played pivotal roles in shaping KSA’s digital economy.

Looking ahead, Redseer anticipates the digitisation of the upstream value chain in sectors such as logistics, B2B sourcing and payment solutions. Having said that, challenges persist, specifically the limited demand for online services beyond large cities and the insufficient supply of a workforce to meet evolving consumer needs.

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /



In a move set to redefine the landscape of the Fast Moving 

Continue Reading

May 16, 2024 | By RetailME Bureau
Sunil Kumar and Ali Saeed Juma Albwardy, Spinneys

One of UAE’s leading fresh food retailers, Spinneys has announced its intention 

Continue Reading

April 19, 2024 | By RetailME Bureau
Laura Manning, Managing Director & Founder, BRW Society

Launched in 2019 by Laura Manning, UAE-based homegrown brand BRW Society completes 

Continue Reading

April 5, 2024 | By Rupkatha B
Rajiv Warrier, Chief Executive Officer, Choithrams

Since the launch of its first store in the UAE five decades 

Continue Reading

March 20, 2024 | By RetailME Bureau
Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC

Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC holds 

Continue Reading

February 29, 2024 | By Rupkatha B
Hani Weiss, Chief Executive Officer, Majid Al Futtaim Retail

In 1995 regional retail conglomerate Majid Al Futtaim introduced Carrefour to the 

Continue Reading

February 26, 2024 | By RetailME Bureau
Prashant Parameswaran, Managing Director and Chief Executive Officer of Tata Consumer Soulfull

Tata Soulfull, a leading name in the ‘good-for-you’ snacks and breakfast cereals 

Continue Reading

February 22, 2024 | By Rupkatha B
Jean-Luc Graziato, Chief Commercial Officer of Majid Al Futtaim – Retail and Alia Al Harmoodi, Acting CEO of the Environment, Health and Safety Agency

Majid Al Futtaim – Retail, which holds the exclusive franchise to operate 

Continue Reading

February 20, 2024 | By RetailME Bureau
Krishna Dhanak, Managing Director, Alpen Capital

In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights 

Continue Reading

February 19, 2024 | By Rupkatha B
Majed M. Al-Tahan, Co-founder & Managing Director, Danube Online

As digital transformation across the retail industry continues to accelerate, the expectations 

Continue Reading

December 19, 2023 | By RetailME Bureau
Frederic Levy-Perrault, CEO, Al Raya Supermarket

Saudi Arabia-based grocery retail chain Al Raya Supermarket serves over 100,000 customers 

Continue Reading

December 15, 2023 | By RetailME Bureau
Ahmad AR. BinDawood, Chief Executive Officer, BinDawood Holding

BinDawood Holding has a rich Saudi heritage, spanning over 50 years, 38 

Continue Reading

December 13, 2023 | By RetailME Bureau




Download Images RetailME Magazine