The Middle East, Africa, and South Asia (MEASA) region’s eCommerce market will grow to $148.5 billion by 2022 with the Gulf region driving this surge with a more than treble jump in online sales, according to the latest report of ‘MEASA ECommerce Landscape: B2C Products Edition’.
The second edition of the eCommerce landscape report was released by Dubai CommerCity, the first dedicated eCommerce free zone in the Middle East, Africa, and South Asia region.
According to the study, eCommerce grew significantly during the COVID-19 pandemic, with the Gulf region experiencing a 214 percent year-on-year increase in cross-border online sales by mid-2020. Findings of the report indicate that the MEASA Business-to-Consumer (B2C) products eCommerce market equates to 2.5 percent of the global B2C eCommerce market.
The report provides a comprehensive overview of the MEASA region’s eCommerce sector, with a focus on its activities and growth. It also examines trends in 29 MEASA countries and their expected developments over the next three years. Furthermore, the report offers regional and international businesses and entrepreneurs’ guidance on how to better benefit from the B2C MEASA market.
“The eCommerce sector in the MEASA is witnessing a significant growth, which is driven by the confidence of its business community and ecosystem. This has also been led by the continuously changing consumer behavior and the adaptation of advanced technologies that played a key role in easing the overall consumer shopping experience. The MEASA region’s eCommerce market is experiencing a staggering CAGR at 18.4 percent, higher than the global 16.6 percent growth over the 2019-22 forecasted period, which represents a big opportunity for the region to benefit from the growing eCommerce activity. The report highlights regional growth, future opportunities, and latest trends, which can guide SME’s and multinational companies in the right direction to benefit from and to expand their regional and global operations.”
The findings of the report noted that the affluent, young population and cross-border eCommerce are the two most powerful eCommerce growth drivers for the MEASA region. Other growth drivers include internet penetration, smartphone, and social media adoption, government policy, and ease of doing business.
“This report shows the potential growth expected to take place in the eCommerce sector. It will help local, regional and multinational companies to better understand the B2C product market in the MEASA region. It will also guide the regional government entities and industry bodies to explore potential developments that can better facilitate the eCommerce sector at a regional and global level,” commented deVere Forster, Chief Operating Officer at Dubai CommerCity.