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Bhavesh Pitroda

ICS 2023 to focus on $32.85bn E-Commerce sector in the GCC

DUBAI, March 15, 2023

More than 150 experts will address a gathering of over 500 delegates on the phenomenal growth of the E-commerce sector that is expected to generate $11.78 billion annual revenue in the UAE and $32.85 billion in the GCC region. 
 
At the first Internet Commerce Summit (ICS) 2023 that will be held at the Conrad Dubai Hotel from March 16 to 17, 2023, technology transformation, innovation and disruption in the retail and E-commerce sector as well as the future opportunities for the industry stakeholders to benefit from will be discussed.
 
“E-commerce revenue is expected to show an annual growth rate of 8.57% between 2023 and 2027, resulting in a projected market volume of $16.37 billion in the UAE by 2027,” said a report by Statista.com, a global market intelligence provider. “In the E-commerce market, the number of users is expected to amount to 7.32 million users in the UAE by 2027.”
 
Growth projections
E-commerce revenue in the GCC is projected to grow at 10.95% per annum between 2023 and 2027 to reach $49.78 billion annually by 2027, up from $32.85 billion in 2023, according to a report by Statista.com. 
 
“In the GCC E-commerce market, the number of users is expected to reach 44.27 million users by 2027 with user penetration to grow from 67.1% in 2023 to 70.7% by 2027. The average revenue per user (ARPU) is expected to amount to $819.90,” it said.
 
According to Technavio, the global E-commerce market size is estimated to grow to $12.95 trillion in 2027. The market is estimated to grow at a CAGR of 27.15% during the forecast period.
 
Bhavesh Pitroda, Director & CEO of IMAGES RetailME, says: “The E-commerce market in Middle East and North Africa (Mena) is expected to see significant growth over the next few years, with an estimated CAGR of 15% between 2023 and 2025. 
 
Key factors
“This growth is being driven by a number of key factors, including increasing internet penetration and mobile phone adoption; growing use of digital payment methods; and increasing demand for online shopping. Consumers in Mena are increasingly turning to online shopping as a convenient and safe way to purchase goods and services. 
 
“The Vision of ICS platform is to share exclusive knowledge, actionable strategies and ideas which can help Digital Commerce adoption in the region grow faster.”
 
Organised by IMAGES RetailME, ICS 2023 is a powerful platform, which has been conceptualised as a premium new technologies forum that showcases cutting-edge and relevant solutions for multiple industries. 
 
ICS Dubai 2023 will focus on the four pillars of next-generation digital commerce: E-commerce and D2C, Omnichannel retail, Martech, Fintech and Payments technology.
 
ICS Dubai will reveal how E-commerce players can leverage these multiple trends to build brand power and drive sales.
 
While all the governments in this region are taking serious steps towards improving the digital commerce market, and usage of the internet for progress of it, ICS 2023 will boost the attempt further.
 
Relevant solutions
ICS has been conceptualised as a premium new technologies forum that showcases cutting-edge and relevant solutions for multiple industries. The debut edition of ICS Dubai in 2023 will focus on the 4 pillars of next-gen digital commerce: E-commerce and D2C, Omnichannel retail, Martech, and Fintech and Payments. ICS Dubai will reveal how E-commerce players can leverage these multiple trends to build brand power and drive sales.
 
ICS 2023 speakers list includes renowned business leaders and changemakers like Brandor Rowberry, CEO – Digital Health, Aster DM Healthcare, Nader Amiri, Founder and CEO of elGrocer, Leena Khalil, Co-founder and CCO of Mumzworld, Glen Radojkovich, Deputy Director of Education, Director of IB and UK schools, Taaleem, Neeraj Gupta, CEO of Policy Bazaar, V Nandakumar, Director Marketing and Communications, Lulu Group International, Abhinav Gupta, CEO, CARS24 – Gulf, Kapil Verma, CPO of Namshi, Damien Corcoran, CEO, Grandiose Supermarket, Piyush Chowhan, CIO, Panda Retail Company – Savola Group, Anthony Nehaenko, Co- Founder and CCO of YallaMarket, Peter Gesper, Senior Vice President of IT, Noon, Sayed Habib, Director, Business Development, Franchise & E-commerce, Danube Home, Mouna Abbassy, Founder and CEO, Izil Beauty, Jacques Wessel Rheeder, MD, THREADS (part of GEMS Education Group), Ashutosh Arun Chakradeo, Chief Retail Officer -GCC, Choithrams, Qasreya Al Awadhi, Founder and CEO of Bumblebee, Mohammad Alabbar, Founder and CEO of AKAAR, Sharad VK, Marketing Director, Century Financial, Mohammad Alawi, Board Member and CEO of Red Sea Markets companies and many more.-- TradeArabia News Service
 



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