In 2021, Saudi Arabia had US$7.7 billion in e-commerce sales, making it the 27th largest market globally, putting it ahead of Belgium but behind Norway.
In 2021, the Saudi eCommerce market grew by 17%, contributing to the global growth rate of 15%. Global e-commerce sales are expected to rise in the coming years, and Saudi Arabia will follow suit. Over the next year, new international markets will develop. With their expanding middle classes and lagging offline infrastructure, East and Southeast Asia will be the driving forces behind this development.
Saudi Arabia is anticipated to grow slower than the world average of 6% between 2021 and 2025, with an annual growth rate of 5%.
So, what is the most dominant e-commerce market in Saudi Arabia?
Revenue in 2021: 147 million $
Founded in 2011, Middle Eastern consumers can shop online at Namshi, a fresh, entertaining, and unique website. Namshi has an enormous selection of brands, high-end products that are still reasonably priced, and a genuinely urban aesthetic. Therefore, it attracts customers in their 20s who care about fashion. Namshi has developed into a company that supports digital innovation, has a fiercely independent spirit, and encourages its customers who love fashion to try out new looks. It offers a broad selection of goods, including premium in-house collections, sports and activewear, and well-known international brands.
Revenue in 2021: 124 million $
Saudi Arabia has its own Amazon store at Amazon SA; the renowned souq.com has changed its name to Amazon SA.
The new store combines the best of Amazon’s global retailing expertise and Souq’s local knowledge. Enjoy millions of products from both domestic and foreign companies. Local and international goods, including those from Amazon US, are available in the store.
You can take advantage of excellent prices, prompt and dependable delivery, and various practical payment options while shopping on Amazon SA. On both the website and the Amazon Shopping App, you can make purchases in Arabic with the help of a Saudi Arabian team.
Revenue in 2021: 105 million $
Jarir started as a small bookshop in Riyadh in 1974. Currently, Jarir has SR 1.20 billion in paid-up capital. In Saudi Arabia and other GCC nations, Jarir sells retail and wholesale products. Jarir’s headquarters are situated in Riyadh, Saudi Arabia. Jarir operates through two divisions: a wholesale division and a retail division that trades under the name Jarir Bookstore and includes online sales.
The company deals in:
- Office and school supplies.
- Kids’ toys.
- English and Arabic books and publications.
- Materials for arts and crafts.
- Mobiles and accessories.
- Computer peripherals and software.
- Audiovisual instruments.
- Photography equipment.
- Smart TVs.
- Computer and electronic maintenance services.
Revenue in 2021: 80 million $
eXtra was founded in Saudi Arabia in 2003; to give customers a comprehensive shopping experience for consumer electronics and home appliances.
All the top international brands are available through eXtra, which also carries a wide variety of products such as TVs, audio systems, computers, mobile phones, IT communications, cameras, home appliances, and personal care items.
The product line is supported by extensive after-sales services, including free home delivery, an extended warranty, and AC installation. Additionally, through its trademark Force 24/7, it provides anytime, anywhere computer maintenance; remote assistance over the phone twenty-four hours per day, seven days per week; and mobile setup with complete backup and maintenance. The kingdom’s three dedicated service centres run by eXtra also provide repairs for household appliances and electronics.
Every market in Saudi Arabia that generates revenue is included in the above market rankings. These businesses can operate on a global scale or national focus, selling in their home nation. Only income generated in Saudi Arabia was taken into account for this evaluation.