yStats.com's new report: Saudi Arabia's online shoppers go mobile
A new publication from a leading E-Commerce-focused secondary market research specialist yStats.com, based in Hamburg, Germany, reports on the rapid growth of online retail sales in Saudi Arabia.
High smartphone penetration rate drives online shopping in Saudi Arabia
B2C E-Commerce sales in Saudi Arabia are projected to rise at a high double-digit annual rate between 2018 and 2022, according to yStats.com. The major growth drivers include higher M-Commerce rates and the digital economy initiatives supported by the country's government. With one of the highest smartphone penetration rates in the world, Saudi Arabia's consumers turn to their connected devices to check product information and shop.
Cross-border players stand strong, but local E-Commerce is also growing
Another major market trend is cross-border E-Commerce. Close to 50% of the country's market is attributed to sales on international platforms. However, Amazon, a prominent player in this category, plans to go local following its acquisition of the regional online marketplace Souq.com. Furthermore, Noon.com is a fast growing domestic player, supported by the Public Investment Fund of Saudi Arabia.
For further information, see: https://www.ystats.com/
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Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.
yStats.com Press Team