Saudi Arabia’s retail sector is set to experience significant growth thanks to the country’s e-commerce market, with 74% of online shoppers expected to shift from global to local platforms. A report from management consulting firm Kearney and Saudi consulting company Mukatafa found that local and hybrid players are making strong headway against international counterparts from China, Europe, the Gulf Cooperation Council and the US. The Kingdom’s e-commerce market is valued at SR19.3bn ($5.14bn), or 6% of the overall SR347.2bn retail market, and is expected to grow to SR34.7bn by 2026, reaching 7.5% of the overall retail market.
Friday, September 1, 2023
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