MENA e-commerce market to double to $69 bn by 2020

25/09/2017 07:19 AST

Innovators in the Middle East are showcasing global best practices in digital marketing to transform the customer experience, according to a report by SAP, the market leader in enterprise application software.

By 2020, the Middle East’s e-commerce market is set to more than double to $69 billion, says SAP citing a recent report by PayFort. The UAE, at $27 billion, and Saudi Arabia, at $22 billion, will be the two largest markets by 2020. In anticipation, the region’s Chief Marketing Officers are investing in digital marketing initiatives for real-time customer interaction.

At the recent SAP Hybris Customer Engagement Symposium in Dubai, regional innovators exchanged best practices in using e-commerce and digital marketing to transform customer experience. During the event’s awards ceremony that recognized innovative enterprises, Saudi engineering and construction firm alfanar won “Cloud Champion of the Year,” Sharjah Cooperative Society won “Grocery Commerce Excellence,” and Virgin Megastore MENA won “Outstanding Omni-Channel.”

The $2 billion Saudi engineering and construction firm alfanar uses e-commerce for its 3,000 wholesalers, reducing servicing time by 40 per cent and increasing customer satisfaction. Marketers agree social media is vital. Hootsuite shows the UAE has the world’s highest social media penetration and Saudi Arabia has the world’s fastest-growing social media users.

MODUL University Dubai has used digital marketing solutions to transform the student and faculty experience. “Middle East market businesses are racing towards the most meaningful and rewarding customer experience. Combining omni-channel commerce with digital marketing, sales, service and revenue management is no longer a luxury. Organisations can compete effectively by meeting their customer needs in a mobile, personalized, and intelligent interaction, anywhere, anytime, and at any touch point in their journey,” said Sam Alkharrat, Global Chief Operating Officer for SAP Hybris.

Oman Daily Observer