E-commerce market in GCC to reach Dhs72.29 billion in 2020

SourceGulf Today
SectorFinancial Markets
CountryGCC

E-commerce market in GCC to reach Dhs72.29 billion in 2020 6 hours ago Officials during the RetailME virtual roundtable. Business Bureau, Gulf Today Global retail sales were projected to reach $25.04 trillion in 2021 and $26.7 trillion in 2022, up from approximately $23.6 trillion in 2018, according to Statista, an online tracker of global economy and retail sector. In 2019, e-retail sales accounted for 14.1 per cent of all retail sales worldwide. This figure is expected to reach 22 per cent in 2023. The e-commerce market size is expected to reach $19.7 billion (Dhs72.29 billion) in 2020 in the GCC. Saudi Arabia is the largest market with $8.3 billion (Dhs30.46 billion) followed by the UAE with $7.5 billion (Dhs27 billion). The COVID-19 pandemic has disrupted the retail sector and transformed consumers as it is rapidly changing the ...read more...