A new initiative by leading e-commerce players is set to transform the industry landscape in the Middle East region, aiming to earn a 50 percent margin in the region’s market, estimated to be 15 times larger than the UAE market.
The MENA e-commerce entrepreneurs community, recently launched by Sellematics & Sellscreen, a SaaS-based e-commerce analytics major, in partnership with YallaHub, a quick-commerce as a service (QaaS) platform, helping brands to easily cross borders, is in the process of evolving into an umbrella body for the sector to promote networking aimed at business growth, and keeping up with evolving marketplace trends.
The community, bringing together experts from the likes of Amazon, Noon and other platforms, will also collaborate with government agencies to highlight digital commerce opportunities in the Middle East.
In the run up, the organisers are busy evolving a platform for entrepreneurs to share ideas, create a think-tank for online sellers, and stay updated with industry advancements.
“We are building the largest community in the Middle East where e-commerce entrepreneurs can support each other, share their experiences, and enhance the business success of all parties,” Leo Dovbenko, co-founder of YallaHub, told Arabian Business.
“The MENA E-Commerce Community, launched in June this year, has received an impressive response, with over 280 membership applications received within the first six days,” Dovbenko said.
Meet to discuss, strategise new initiatives
The MENA E-commerce Community held a gathering last week in Dubai’s Jumeirah Lake Towers to discuss the latest trends in the online shopping industry, with experts sharing insights on changing consumer behaviors and strategies to achieve marketing success.
A major session at the event, featuring notable industry figures such as Vidisha Debsarkar, Director of Online Business and Marketing at Finmart, and Omar Al Ashi, CEO of Urent, and Aleksandra Shoman, Creative director and CEO of FORSTRONG, was devoted to discussing how to earn a 50 percent margin in the region’s wider electronic commerce market.
Industry insiders also dwelt on strategies to ramp up e-commerce market structure, key metrics, B2C cross-border, logistics, store foundation, order processing, shipment, and settlement.
Dovbenko said leveraging social media for e-commerce success and the value of developing the online presence through showcasing the business management was also among the major topics discussed at the gathering.
Industry insiders said the community platform is expected to actively grow and offer new development opportunities for its members.
Nouman Mehmood Shahdai, Founder and and CEO of Digixcommerce, a 7-figure seller on online, said every e-commerce entrepreneur is seeking a professional community and support to stay updated with the Middle East market agenda.
“For better results, we could unite our efforts and act as a community to get hands-on updates from the MENA market,” Shahdai said.
Industry-wide initiative in the backdrop of surge in MENA e-commerce sector
Industry insiders said the community initiative is aimed at giving further fillip to the surging e-commerce sector in MENA.
The move to seek regional government cooperation is also part of this ambitious and inclusive strategy, they said.
The e-commerce sector in the Middle East is estimated to reach a market volume $50 billion by 2025, according to a recent Deloitte study,
Widespread use of cutting-edge technologies and favorable government initiatives to promote digital economies are cited as the growth drivers for the expected surge in the region.
The industry initiative also assumes significance as e-commerce, evolved from a novel concept into a multi-trillion-dollar industry, is fast redefining consumer behavior, reshaping the traditional retail landscape in the region with the emergence of new and innovative digital technologies revolutionising the way business is conducted.
The global e-commerce market size is projected to hit around $57.22 trillion by 2032 from $14.14 trillion in 2022, expanding at a CAGR of 15 percent, according to the Precedence Research report.
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