Based on Bain & Company and Google E-commerce in MENA: Opportunity Beyond the Hype, the MENA e-commerce market is worth $8.3 billion, and growing at a CAGR of 25% per year. Saudi Arabia represented the largest e-commerce market in the region, making up $3B of the total size (the UAE comes in second at a $2.3B market size). Based on the same report, Souq (acquired by Amazon) remains the market leader; however, the MENA market stays relatively fragmented, where the top two e-commerce players capture between 25% and 40% market share. The report states that this is in contrast to most other e-commerce markets, where the share of the top two players is usually more than 50%. There has been a surge of interest and competition over the MENA market from regional and international players. This panel explores the strategies that existing retailers and eCommerce players need to adopt to get ahead in this competitive market. It will also dive into some of the technologies that they are investing to enhance the customer experience.
Mohamed Al Fayed, CEO and Co-Founder, GrubTech (former Senior Vice President of OmniChannel at Altayer Group)
Dana (Horska) Labin, Chief Investment and Innovation Officer, AWOK.com
Hani Saif, Chief Information Officer, Extra
Moderator: Mazen Al Darrab, Founder and Chief Marketing Officer, ZID