Complex Made Simple

E-commerce achieved remarkable growth in Saudi Arabia with the evolution of the technology sector

E-commerce has achieved a remarkable development in Saudi Arabia especially with the growth of the information technology sector which is estimated with 9.3%, where Saudi Arabia tops the list of Arab states in terms of the growth of electronic commerce, which amounted to 12 billion riyals in conjunction with the increase of users of e-commerce services to 3.5 million user which is equivalent to 14.26% of the population.

According to reports issued by the specialized research centers, one out of every four users of the Internet in the Kingdom is active in the field of e-commerce and they visit 70 million pages of e-commerce sites each month, it is expected that the share of Saudi Arabia in the e-commerce market will be 50 billion Saudi riyals by 2015, especially with a high percentage of new buyers and revenue improvements.

In this context, Eng Mahmoud Abdul-Jabbar, general manager of the company “Tatweer”, said e-commerce has played a major role in the economic growth of the Kingdom of Saudi Arabia, pointing out that his company seeks to enhance the role of technology, as well as its commitment to attracting the best talent working in this field.

Abdul-Jabbar also said that “Tatweer” cooperated with the financial group “Samba” to create a new service which is the first of its kind through the site, “Faturah”, which enables Saudi investors to provide products and services for each of their clients inside and outside the Kingdom at the lowest cost as well as the bank’s obligations with secure e-commerce services.

Faturah includes payment solutions and secure and advanced e-commerce applications.
According to “ARAMEX” payment on delivery is the preferred method of payment for most buyers via e-commerce sites in the Middle East, as their percentage reached 75%, but there are new gates work in order to increase confidence in electronic transactions and to overcome this.

The spending on e-commerce reached highest level ever in Saudi Arabia, but the growing demand for tablet devices will make it grows faster in 2015 in addition to the trade via mobile devices, which would be multiplied by seven times.