Rise of e-commerce

What is Your Voice?

Your Voice is a new initiative hosted by CPI Media Group’s leading technology publishing arm Tahawul Tech. We
understand that more than ever the pressure on business to transform within rapidly changing economies and
industries is higher than ever.

TOPIC: Rise of e-commerce
DATE: 18th May 2017

In this edition, Your Voice lead a discussion on the rise of e-commerce within the region.

Globally, e-commerce platforms have revolutionised the way we think of shopping and transacting in general.
Today it is not possible to fathom a world where e-commerce doesn’t touch any part of your lives. Right from
buying apparel, lifestyle products, electronics and books to even grocery and other perishable items online, it
has proved to be a robust business model in many developed and developing markets.

The Middle East e-commerce industry has had a notable growth over the years and according to a Frost and
Sullivan report, the sector is expected to grow by 40 percent across the GCC by 2020, with sales estimated to
reach $41.5 billion.

Your Voice delved into the challenges and opportunities in the e-commerce space and what it will take to
be at par with other mature markets.

Our major talking points were:

  • We have seen a surge of investments in the e-commerce space recently (Example: noon.com). What is the potential of the market?
  • Amazon’s foray into the region is bound to shake things up. How do you plan to step up to the competition?
  • The age-old question – will pure play online retailers take over brick and mortar stores or will it always remain complementary with models such as click and collect and dark stores? Do you see this happening in the region?
  • Which are the technologies that will reform the e-commerce model?
  • Getting customers to trust the brand and overcome their security concerns around payment were the challenges e-tailers had. How have customer expectations evolved when it comes online retailing?
  • No online player has been able to achieve the perfect seamless shopping experience we see in futuristic videos. What will it take to become a strong omnichannel player?
  • While e-commerce is on the rise, what do you believe is lacking in this space?
  • How do you think the regional e-commerce space will evolve over the next two years?

 

Watch this space for the video interviews with our esteemed panellists.

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