E Commerce In Saudi Arabia

E commerce market the saudi e commerce market has enjoyed steady growth in recent years with turnover increasing by 11 on average according to the ecommerce foundation.

E commerce in saudi arabia. Total e commerce revenue across all product categories was us 6 13 billion in 2017 and is expected to grow to us 9 41 billion by 2021 according to statista. E commerce in saudi arabia statistics and trends. The ministry of commerce and investment in saudi arabia moci adopted the implementing regulations of the e commerce law with immediate effect on 31 january 2020 to accompany the recent shift towards electronic transactions that commerce is experiencing globally which helps achieve the strategic objectives of vision 2030. Revenue in the ecommerce market is projected to reach us 6 311m in 2020.

Firms who would like to meet the most accomplished digital company for their task in ecommerce will now manage to do so thanks to a high quality valuable and free of cost service. Benefits to e commerce start ups in saudi arabia. As the kingdom s vision 2030 reform plan transforms saudi arabia the founder and ceo of a leading e commerce retailer for mothers and babies in the middle east says an aggressive expansion. To put it into perspective ksa s ecommerce penetration in 2017 was 1 4 this was less than half of that of the us in 2005.

Logistical developments set to boost channel s growth in coming years. This study estimated that approximately 8 of the saudi population regularly bought items online 6 used online banking services and 7 made travel reservations on the internet. Keep your ecommerce project in saudi arabia under control. The law applies to e commerce service providers being merchants traders registered in the saudi commercial register as well as other e commerce practitioners both in the kingdom and elsewhere who are not registered in the saudi commercial register.

The ecommerce market encompasses the sale of physical goods via a digital channel to a private end user b2c. Check out our infographic e commerce in saudi arabia for latest e commerce statistics and trends. State of ecommerce in saudi arabia despite a high ecommerce readiness index the kingdom of saudi arabia never really experienced significant growth in online sales for the longest time. E commerce in saudi arabia is growing and is estimated to reach 10 864 million usd in 2020 from 5 894 million usd in 2015.

A recent study on media and internet use in various countries in the middle east by northwestern university in qatar demonstrated that while e commerce in saudi arabia was growing slowly it showed great promise for future market expansion. Infographic by website design in saudi arabia.