Tradeling, the largest business-to-business (B2B) marketplace in the Middle East and North Africa (MENA), has witnessed a strong surge in the region’s e-commerce sector as multiple reports have cited an expected consistent growth for the industry in both Dubai and the MENA region.
According to a recent interview with Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, Dubai has witnessed a recent surge in the e-commerce market due to several factors, including a 97% year-on-year growth for the number of international visitors, which reached 14.36 million in 2022 in comparison with the previous year (2021). This is in large part due to the resilience of the UAE government, who have reacted as well as anyone to the aftermath of the COVID-19 pandemic and was able to re-open the market to everyone under the right safety measures.
Another strong reason is the evolution of retail and e-commerce as Dubai has seen an entry into the metaverse, with stores and malls opening in the Web3 space. Retail outlets have been able to adjust very smoothly and effectively in bridging the gap between the digital and actual world with all the advanced technology provided to them, and UAE residents are able to take advantage of the opportunity and incorporate it as part of their daily lives. This trend is continuously becoming the new norm for shoppers in using the internet as their main platform for the majority of their purchases.
The sector has also reached a high-growth era for the entire MENA region, with significant progress in sales, logistics, and payments, nearly reaching $37 billion in 2022, according to a report by EZDubai, with the expectation to reach almost $57 billion by 2026 at a compound annual growth rate of 11%. This is in large part due to increasing internet and mobile penetration, rising consumer demand for convenience and value, as well as the emergence of innovative business models.
Marius Ciavola, CEO of Tradeling commented on this: “The region’s focus on innovation, while embracing advancements in technology and adopting a digital-first approach has fuelled the growth of the e-commerce sector in the region. This is spearheaded by Dubai which is always looking to maximize all opportunities and unlock its full potential across all industries, with e-commerce being one of the main growth pillars. The UAE has always been a leader in accepting and utilising technology to its full advantage and the first step to this was digitalising its economy in 2013, resulting in a continuous increase in the e-c0mmerce sector, as the majority of the population has adopted the idea of a cashless society with all transactions implemented more efficiently without the requirement of a physical presence. The sector has been able to grow exponentially during and after the pandemic, and continue to push on this strong momentum with additional support by the rising demand for online shopping and steady investment in the sector’s infrastructure.”
As the MENA’s dominant B2B marketplace, Tradeling is playing an instrumental role in the UAE’s e-commerce rise. The company has grown rapidly since its inception three years ago with a wide selection of more than 1.7 million unique products across 14 categories and more than 200,000 registered buyers and sellers from 55 countries. Partnerships with local entities such as Wio Bank and Food Tech Valley, as well as global ones like Mastercard, are further solidifying Tradeling’s presence while simultaneously helping to prop up the country’s economy.
Tradeling is the dominant business-to-business ecosystem in MENA, with its e-marketplace. Driven by the purpose that everything they do, they do because they believe the future of trade is digital. They believe that the future is also now. The way they shape the future is by building a digital ecosystem, beautifully designed and simple to use. They give their users what they never thought they needed.
Tradeling ensures a reliable and smooth trade process in addition to providing logistics and financing solutions. Connecting global suppliers with MENA-based demand, Tradeling leverages advanced technology to optimise the supply chain and creates economic value in addition to mitigating risks. Enabling buyers to find the right products and materials as well as engage with new suppliers and Middle Eastern buyers, Tradeling helps in negotiating prices and delivering end-to-end services for business-to-business trade engagement.