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E-commerce in the Middle East - Sets eyes on unprecedented growth by 2016

UAE's top Business Leaders and Entrepreneurs from a variety of industries participated in a business meet organized by the EO to discuss the "Future of E-Commerce"
Dubai - The Entrepreneurs' Organization (EO), a global network of more than 10,000 business owners with 65 members in their UAE chapter, hosted a business meet at the Media Rotana Hotel in Dubai. Recently, the EO had the unique opportunity to discuss the future of E-Commerce business's trends and challenges in the region. Guest speakers from the Middle East's leading E-Commerce portals; Rabea Ataya, CEO and founder of Bayt.com, Mona Ataya, founder of Mumzworld and Paul Kenny the co-founder of Triperna and CEO of cobone.com lead the discussion and provided key insights into understanding the market.

When asked about the foreseeable future of E-commerce for the retail industry, Mumzworld proprietor Mona Ataya stated " Online E commerce is expected to reach 9 Billion USD this year and grow to 15 billion by next year. For the past 3 years we have witnessed a speedy growth with numbers doubling annually." She added " Today 15% of brick and mortar retailers in the GCC are online. This number will change radically within the next 12 months as easy E- commerce platforms such as Mumz World are making it easier for retailers and smaller businesses to jump on the E-commerce band wagon, both quickly and cost effectively!"

Among emerging economies, the UAE's E-commerce presence continues to expand every year. With 85% of the population as internet users with Retail, Travel and Gaming as the region's top E-commerce segments. With the increased penetration of smartphone usage, the Middle East is fast evolving as a significant E-commerce global destination.

 

Cobone CEO Paul Kenny provided EO members with further insight into todays dominating industries within the field. " Travel and Retail are dominating the E-commerce scene presently. The largest markets in the region are the UAE, KSA and Egypt. Airlines and hotel websites command a large chunk of Travel e-commerce sales and retail is generally dominated by a few online parties including online market place communites such as Souq.com, Namshi, MarkaVip etc."

The learning event addressed trends and several key topics including the future of E-Commerce in the Middle East region, How to adapt and grow a successful E-Commerce business, How to overcome the storefront business challenges in the retail business, implementing new ideas to encourage digital shopping experiences and so on.

The event concluded with a general consensus that there are many opportunities for business leaders and investors across all vertical E-commerce platforms and varying industries and that it is indeed a very exciting time for E-commerce with in the region.

 

Commenting about the event, Mr Vikram Shroff, president of the EO 2014 Said, "We are driven by our mission-statement, 'To engage leading entrepreneurs, to learn and grow'. As a global entrepreneurial network, EO offers you the connections, tools and resources one needs to reach the next level in their entrepreneurial journey. Thus, we are consistently impacting businesses and communities in all corners of the world through our global programs, events and initiatives. We come together at events like these to learn from one another, empower each other and explore new ways to make a mark through entrepreneurship."

-Ends-

About The EO
The Entrepreneurs Organization is a dynamic, global, non-profit network of more than 10,000 business owners in 48 countries. Founded in 1987 by a group of young entrepreneurs, EO is the catalyst that enables entrepreneurs to learn and grow from each other, leading to greater business success and an enriched personal life. EO members create a constant flow of news on a daily basis, all of which speak to their commitment to entrepreneurial excellence.

For more please visit: http://www.eonetwork.ae/



Source: http://www.samenatoday.com/post.php?title=E-commerce+in+the+Middle+East+-+Sets+eyes+on+unprecedented+growth+by+2016

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