E-commerce will amount to US$29 billion in the GCC region in 2021
According to the e-commerce platform Ecomz, the Middle East has witnessed a five-fold increase in e-commerce since the start of the COVID-19 crisis. Social distancing and stores closures have made a large segment of the Gulf Cooperation Council (GCC) population turn to online shopping. According to Kearney Middle East, it is estimated that e-commerce in the Gulf will amount to US$29 billion in 2021. Online shopping is forecasted to thrive over the coming years, reaching US$34 billion in 2022, US$39 billion in 2023, US$44 billion in 2024, and US$50 billion in 2025. ‘We are accordingly witnessing a drastic shift from high street to online shopping and this trend is expected to grow from strength to strength,’ stated Ecomz CEO and Founder Rudy Bekerjian.