Middle East's Fashion E-Commerce Poised for Boom
In only five years (ending in 2015), the fashion e-commerce sector in the middle east will see a 500% increase in sales, which will likely only continue to grow at a tremendous rate. With one of the richest (and growing) economies in the world, people who live in the area are becoming more and more comfortable with shopping online. On a side note, if you have not yet had the opportunity to spend some time in Dubai, make the effort and check out what all the fuss is.
The wealthy, fashion-loving states of the Arabian Gulf are famous for their lavish, mega-sized shopping malls. But alongside these temples to physical retail, e-commerce is expected to grow dramatically in the region over the next few years, fuelled by rising broadband penetration and growing comfort with online payment amongst a population that is increasingly tech-savvy and wired. Estimates vary on the current size of the market and its potential, but a study by the Interactive Media in Retail Group (IMRG), based in London, predicts that total e-commerce sales in the Gulf will increase from $3.3 billion in 2010, when rapid growth began, to $15 billion by 2015. Read More