IMARC Group, a leading market research company, has recently released a report titledGCC E-Commerce Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, The study provides a detailed analysis of the industry, including the GCC e-commerce market trends, size, share, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the GCC e-commerce market?
The GCC e-commerce market is projected to exhibit a growth rate (CAGR) of 10.29% during2023-2028.
What is E-commerce?
E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the Internet. It involves online transactions between businesses, individuals, and consumers, conducted through e-commerce platforms or websites. E-commerce encompasses a wide range of activities, including online shopping, electronic payments, digital marketing, and online customer service. It eliminates geographical barriers, allowing customers to access products and services from anywhere at any time. E-commerce offers convenience, variety, and personalized shopping experiences, revolutionizing the way businesses operate and consumers engage in commercial activities. It has become a fundamental aspect of modern commerce, influencing industries across the globe, and reshaping the dynamics of retail and business transactions.
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What are the growth prospects and trends in the e-commerce industry in GCC region?
Changing consumer behavior represents one of the key factors driving the growth of the market across the GCC region. Consumers are increasingly turning to online platforms for convenience, variety, and personalized experiences. The GCCs fast-paced lifestyle and the desire for hassle-free shopping are driving consumers to explore e-commerce options. The widespread use of smartphones in the GCC is facilitating mobile shopping and enabling businesses to reach customers through mobile apps and responsive websites. Mobile-driven shopping experiences are becoming a norm in the region. The GCC region is embracing digital transformation, with governments and businesses investing in digital infrastructure and connectivity. The increased availability of high-speed internet and mobile penetration is creating a conducive environment for the growth of e-commerce platforms and transactions. The availability of secure and user-friendly digital payment methods, such as mobile wallets and online banking, is easing the payment process for online shoppers, which is boosting consumer confidence in e-commerce transactions., thus influencing the growth of the market across the region.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Home Appliances
- Apparel, Footwear and Accessories
- Books
- Cosmetics
- Groceries
- Others
Breakup by Transaction:
- Business-to-Consumer
- Business-to-Business
- Consumer-to-Consumer
- Others
Breakup by Country:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
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