NEW YORK, May 9, 2016 /PRNewswire/ -- Online retail growth in the Middle East supported by advancements in technology and regulations, says new yStats.com report
Germany-based secondary market research company yStats.com has released a new report: "Middle East B2C ECommerce Market 2016." Yücel Yelken, yStats.com CEO, commenting on the findings of the report said "Recent advancements in technology and governments' initiatives provide a strong base for further growth of online retail in this region."
The Middle East region has seen rapid growth in Internet connectivity in recent years; some countries of the region such as Qatar, Bahrain and the UAE have Internet penetration rates of above 90%, according to the yStats.com report. This has led to higher online shopping rates, with Israel in the regional lead in the percentage of web-connected persons who make purchases online. The yStats.com report shows that while travel bookings have been the leading product category purchased online, shoppers are increasingly turning to the purchase of physical products as well, particularly electronics. Kuwait is an example of the phenomenon of decreasing average transaction value as shoppers make more purchases of lower cost items. While the larger B2C E-Commerce markets of the UAE and Saudi Arabia capture much of the attention in the region, the yStats.com report highlights rapid growth and growth potential in other countries. With the removal of international sanctions on Iran, the large population and rising Internet connectivity there offer online retail opportunity. Governments' initiatives in Oman and Bahrain support the advancement of online retail in those countries. Qatar is highly ranked in a global B2C E-Commerce index, and several successful online retail projects have been started by entrepreneurs in Jordan.
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