“E-commerce isn’t the cherry on the cake, it is the new cake!”
With a tax-free regime, high investment climate, growing economy and high spending urban populace, it is no wonder that Middle East has become the epicentre of all things – Ecommerce!
The emergence of the new middle class, Gen Y and western influence has meant that there is a huge clamour for global brands at the click of a mouse or tap, better still, delivered to the doorstep directly! In the cliched cat & mouse game of E-commerce sites (both sold literally) and aggregators/last mile delivery, the consumers are the winners on high price war bargains and the spoils thereof!
With mobile taking precedence on all things social, the utter need for mobility is also not lost among the majority of the consumers, breeding a growing ecosystem of first-time entrepreneurs re-imagining the new dotcom wave!
The success of home-grown E-commerce ventures like Souq.com, Dubizzle, Namshi.com, ekar, Careem and Noon.com (to name a few) have meant that Venture Capitalists are not shying away from investing their seed capital for layered scalability. Various entrepreneurial incubation centres supported by Government have paved the way for enterprising young Emiratis, to do their bit in the E-commerce space. Government investment vehicles like DIFC are serving as springboards for emerging Fintech companies quite admirably. The upcoming Dubai EXPO 2021 holds great promise in this segment, adding to startup ecosystem and representative offices in Dubai as Middle East hub…