E-commerce market projects QR17bn revenue – The Peninsula

E-commerce market projects QR17bn revenue – The Peninsula

According to a report by Statista, the online sales platform in Qatar is estimated to reach QR17bn ($4.67bn) in 2023.

The research and data analysing group show a salient rise in the e-commerce market resulting in gaining profits for the industry in coming years.

While numerous firms in the country are focusing on providing customers via e-commerce platforms hassle-free, citizens and residents are opting for online shopping according to their convenience.

This beyond doubt has strengthened the industry and helped in reinforcing Qatar’s economy.

The data also shows that the industry is optimistic about surging at a compound annual growth rate (CAGR) of 11.32 percent in the next four years enabling the sector to expand steadily and supply products to customers across the country.

With a vital increase in CAGR, the market volume is expected to reach a volume of QR26.11bn ($7.17bn) by 2027.

E-commerce market volume in 2023 forecast a whopping QR5,083bn ($1,396bn), while most of the revenue is generated in China, the study shows.

The enlarging industry evinces a robust platform to fortify the country’s economy eventuating in more sales in the online platform.

The data reveals that in the next four years, the number of users is anticipated to reach a total of 2.5 million