Ever wondered how big the ecommerce opportunity really is in the MENA region?
Well earlier this year the IMRG was commissioned by Visa to do a study on B2C e-commerce in the Middle East and North African (MENA) countries and a great job they did too.
According to the 2013 IMRG report the MENA region represents the fastest growing e-commerce region worldwide with an estimated 45% year on year increase (USD10bn in 2011 to USD15bn in 2012].
Visa states on its website, â€˜that the data for this first-of-its-kind report was provided by the UK body for e-Retail, the Interactive Media in Retail Group (IMRG), and was supported by commentary from International Omni Retailing Members Association (IORMA) as well as Dubai-based online shopping mall Tejuri.com.
Download The Global Evolution of Digital Commerce and MENA eCommerce directly from Visa's website
I strongly recommend that you read this report if you really want to get an independent understanding of:
- The size of the MENA (and Pakistan) e-commerce market as a whole in comparison to other and regional markets.
- Barriers and opportunities to e-commerce adoption in the region as a whole
- Profile by country highlighting unique aspects of each country regarding e-commerce
Countries covered: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Yemen, Iraq, Jordan, Lebanon, Syria, Algeria, Egypt, Libya, Morocco, Tunisia and Pakistan.
On a personal note, this Visa report couldn’t have come at a better time, as we here at Terrapinn look to bring our global brand, The Ecommerce Show to the Middle East for the very first time in 2014.
It's not very often in our industry that you feel like you’re on the tipping point of something HUGE. Though, reading this report seems to really cement the feeling that the timing and market opportunity is primed for ecommerce in the Middle East in 2014 and beyond.