The speed of e-commerce: GCC market updates, first quarter 2023

The speed of e-commerce: GCC market updates, first quarter 2023

E-commerce has been growing rapidly in the Gulf Cooperation Council (GCC) region, with an increasing number of consumers embracing the convenience and ease of online shopping. In the first quarter of 2023, the trend shows no signs of slowing down as businesses and consumers alike continue to embrace the digital marketplace.

One of the key drivers of e-commerce growth in the GCC region is the increasing penetration of smartphones and high-speed Internet. With a high proportion of the population owning mobile devices with high-speed internet, consumers are able to easily access online shopping platforms anywhere and at any time. Additionally, the COVID-19 pandemic has accelerated the shift to e-commerce as consumers have sought to minimize in-person shopping to reduce their risk of exposure to the virus.

In the GCC region, the e-commerce market is dominated by several key players, including Souq.com, Noon.com, and Amazon. These companies invest heavily in their logistics and delivery infrastructure to improve the speed and reliability of their services and expand their product offerings to attract new customers.

One area of growth in the GCC e-commerce market is the sale of luxury goods, particularly in the United Arab Emirates. With a high proportion of affluent consumers, the UAE is