Souqplace.com, the first Emirati online marketplace in the UAE, connecting quality SMEs and artisan products, in addition to branded ones to consumers, announced the expansion of its platform to Saudi Arabia in a statement released by the company.
“Capitalising on the upward growth of e-commerce in the UAE and the support it has received over the period of two years, the Emirati e-commerce start-up is all set to offer its unique products listed on their platform to the Saudi audience,” said the statement.
The statement noted that the importance of Saudi Arabia as a promising e-commerce player rests on the country’s high purchasing power and growth. It said that KSA and the UAE alone have witnessed two thirds of e-commerce transactions in the region, with Saudi Arabia registering a growth of 37 percent. The large number of tech-savvy young citizens in Saudi allows e-commerce to grow.
“We are extremely happy to be extending our services to Saudi Arabia. KSA has always been on our radar since the time we launched Souqplace.com in the UAE. It is one of the most promising markets for e-commerce in the Arab region and we are hopeful that the amount of support and love received in the UAE within a short span is replicated in Saudi Arabia,” Tony N Al Saiegh, Executive Director, Virtual Dusk, holding company of Souqplace.com, said.
What is Souqplace?
Backed by the Emirati entrepreneur , Ahmed BinSalem Al Dhaheri, Chairman, Virtual Dusk, Souqplace.com provides a platform for consumers to avail hard-to-find niche, artisan products, in addition to branded products at competitive prices.
Products available on the platform range from electronics, fashion, watches, accessories and beauty, to home and garden and arts and crafts, said the statement. “The platform has grown from 200+ SMEs and brands associated with them in 2016 to 400+ brands in 2017. The unique visitor numbers have witnessed a 100 per cent increase since 2016. There are a total of 50,000 + products currently listed on the platform,” it noted.
According to the statement, Souqplace.com has been able to present the efforts and qualitative products the SMEs associated with them have to offer, alongside big brands.