Saudi e-commerce to hit $2.6bn
Dubai, September 26, 2013
Value of e-commerce transactions in Saudi Arabia is expected to reach SR9.9 billion ($2.6 billion) in 2015 from around SR3.8 billion in 2012, according to a recent research.
The 2013 PayPal Insights: e-commerce in the Middle East report highlighted that the highest spend was on travel, followed by computer purchases, with cash on delivery (CoD) as the most preferred mode of payment.
It was pointed out that 41 per cent of all online transactions in the Mena region were for video games, followed by 31 per cent for computer software.
About 35 per cent of online shoppers across the region bought their goods from the US, followed by Asia, Europe and Mena, it said.
About 80 per cent of all transactions were paid for through CoD, while 15 per cent were paid using payment cards and five percent using PayPal.
In the UAE, online travel spend had the highest share with 67 per cent and CoD was the preferred choice of payment followed by payment cards and then PayPal. About 52 per cent of online shoppers used Souq.com to make their purchases.
In Qatar, travel spending accounted for about 34 per cent of all online transactions and is expected to grow to 76 per cent by 2015. About 75 per cent of transactions were paid for by CoD, which 18 per cent used payment cards and seven per cent used PayPal. - TradeArabia News Service
More Finance & Capital Market Stories
- AAIB unit starts crisis assistance travel service
- Abu Dhabi may need to lower industry growth target
- Kuwait credit hits 5-year high; tops $1.3bn
- UAE stocks rally, Abu Dhabi tops 4,000 mark
- Abraaj completes 15 exits in 2013
- Barwa gets top HSE certifications
- Egypt's forex reserves dip to $17.8bn in Nov
- Experts put spotlight on Mena tax issues
- BMI, Muharraq SC launch co-branded credit card
- NBAD partners with top business school