The Middle East’s e-commerce market, with significant growth opportunities, is eyeing Amazon’s acquisition of Souq.com, especially in Saudi Arabia.
E-commerce in the Saudi market appears to be far from saturation in this sector.
Head of Emerging Products and Innovation in the Middle East and Africa at VISA Hadi Raad said in an interview with Al Arabiya that Amazon’s entry into the region reflects the importance of these markets and their growth.
“Amazon is a giant player in e-commerce and targeting the region’s markets is a sign of the opportunities in these markets,” Raad said.
“The entry of # Amazon will create an atmosphere of competition that will be reflected positively on the consumer, in terms of competition for prices and the growth of trade and the economy in general.”
He pointed out that the development of e-commerce is linked to the development of infrastructure in these countries, but all the Gulf States have a large abundance and factors of development and access to global e-commerce rates.
“There are important factors in the development of e-commerce, including consumer confidence in the use of the electronic payment card. This is a hindrance in our countries, where some users prefer to use the cache, and this may be a hindrance,” he said.