Eros Group, the leading electronics distributor in the UAE, has launched its e-commerce website to tap into the fast-growing online shopping market in the country.
The company, which has 32 retail outlets in the country, says it will sell mobiles, tablets, appliances, computers and accessories on its new website, in addition to products of home entertainment. It will also offer the products of major brands like Samsung, Hitachi, TCL and Linksys.
“e-commerce is rapidly expanding in the region due to the increased confidence in online sales and we expect to see this strengthen over the next decade. The launch of our e-commerce venture is a key component of our growth strategy and a natural progression towards delivering growth and trusted service to our burgeoning consumer base across the UAE,” says Deepak Babani, CEO, Eros Group.
Eros Group, which was recently named Superbrand’s “Brand of the Year” for 2015, said it will provide free product insurance, free shipping, easy returns, cash on delivery and installments on all purchases made through its website.
Niranjan Gidwani, Deputy CEO, Eros Group, said, “With the increasing growth in Internet penetration and more and more users going online to shop, we feel that now is the perfect time for us to take the digital leap. The online opportunity for Eros Group has huge potential. We are excited with the opportunity and have some exciting online retailing offers.”
Recently, various studies have indicated that e-commerce in the UAE, the largest e-commerce market in the Middle East, is growing at a fast pace. According to research firm Frost & Sullivan, it is worth nearly $2.5 billion a year and is expected to grow to $10bn by 2018.
Local retail website Awok.com has revealed that nearly 46 per cent of Dubai residents purchase goods online.
According to a survey of purchasing behavior by payment solutions provider Network International, one among three residents in the UAE makes one to five online purchases in a week.
The study also finds that, among the residents surveyed, five per cent make online purchases more than five times a week.