MENA E-Commerce Series 2018: 5 insights driving regional e-commerce
The global e-commerce industry surpassed 10% of all retail sales in 2017. Growing four times quicker than retail as a whole, by 2020 it is forecast to drive half of all retail growth. 1. MENA e-commerce market is worth $8.3 billion, with significant room for growth In 2017, e-commerce in the Middle East and North Africa (MENA) reached $8.3 billion, with an annual growth rate of 25%. It is forecast to hit $28.5bn by 2022, with a penetration rate of total retail sales of 7% with the Gulf Cooperation Council (GCC) and Egypt accounting for 80% of the region’s e-commerce market. The United Arab Emirates (UAE) is the most advanced e-commerce market in the region, with a penetration rate of 4.2%, similar to that of Turkey and Brazil. Saudi Arabia (KSA), at 3.8%, closely follows the UAE and together they represent 60% of the e-commerce market in the region. “This is primarily due to consumer digital readiness and the rising availability of online product selection in these m