{"id":3425,"date":"2020-02-11T12:21:57","date_gmt":"2020-02-11T12:21:57","guid":{"rendered":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/?p=3425"},"modified":"2022-06-23T13:20:19","modified_gmt":"2022-06-23T13:20:19","slug":"saudi-arabia-is-booming-in-terms-of-e-commerce","status":"publish","type":"post","link":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/saudi-arabia-is-booming-in-terms-of-e-commerce\/","title":{"rendered":"Saudi Arabia is booming in terms of e-commerce"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t

Given these circumstances, the Retail Leaders Circle MENA Summit 2020<\/strong> that took place in Riyadh examined the strengths of the retail industry and economic growth opportunities within the sector. Organized under the patronage of the minister of Commerce and Investment, and in partnership with Invest Saud<\/strong>i, it gathered the most prominent regional and international leaders who, among others, analyzed the evolution of e-commerce in the region and the retail industry in general.<\/p>

Below are some of their quotes and views on the issue:<\/p>

Speaking at a session titled \u201cThe State of MENA Retail\u201d, Cyrille Fabre, partner at Bain & Company, said: \u201cIn MENA, the e-commerce market grew 29 percent from approximately $8.5 billion in 2017 to $14.3 billion in 2019.\u201cSaudi Arabia is booming in terms of e-commerce and is the number one market in the region in terms of growth and size,\u201d he added.<\/p>

Saudi Minister of Commerce and Investment, Majed bin Abdullah Al-Qasabi noted: \u201cE-commerce in the Kingdom has grown significantly; we have more than SR80 billion ($21.3 billion) in services and products and 45,000 shops and e-commerce platforms.\u201d adding: \u201cAs we begin to focus on the Kingdom\u2019s value proposition, we have a unique blend of opportunities that make Saudi Arabia a destination for investment.\u201d<\/p>

Speaking on the outlook of e-commerce, Ahmed Al-Hakbani, governor of Saudi Customs said: \u201cIn the 2020 Doing Business report from the World Bank, Saudi Arabia jumped 72 global positions in one year in the (Trading Across Borders) measure.\u201d<\/p>

\u201cWe want to expedite e-commerce. When it comes to it, we are putting much more emphasis on customer service and ensuring online retailers uphold the standards of the traditional retail sector.\u201d<\/p>

In the session on \u201cRetail as a Job Creation Engine\u201d, Saudi Arabian General Investment Authority (SAGIA) Deputy Gov. Ibrahim Al-Suwail talked about foreign investment, and Faisal Alshaya, general manager of the Alshaya Group, and Faraz Khalid, CEO of Noon, the Middle East\u2019s homegrown online marketplace, talked about providing training to young Saudis.<\/p>

\u201cThe Kingdom has been working across government agencies to re-engineer the licensing processes and reduce requirements and we are seeing positive implications for the ease of doing business,\u201d said Al-Suwail.<\/p>

Read more on the Summit and its participants here<\/a>.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t

E-commerce in the Kingdom has grown significantly; we have more than $21.3 billion in services and products and 45,000 shops and e-commerce platforms <\/em><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t

Majed bin Abdullah Al-Qasabi<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\tShare this post:\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

With the modernization of retail underway, e-commerce is booming in the Middle East and North Africa (MENA) region and Saudi Arabia is emerging as its top performing country.<\/p>\n","protected":false},"author":1,"featured_media":3426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[7,12],"_links":{"self":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts\/3425"}],"collection":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/comments?post=3425"}],"version-history":[{"count":0,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/posts\/3425\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/media\/3426"}],"wp:attachment":[{"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/media?parent=3425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/categories?post=3425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wordpress.technoarray.com\/retailleaderscircle\/wp-json\/wp\/v2\/tags?post=3425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}