In the last few decades, the Mena region has been overflowing with new opportunities and even more rivalry because of the global players establishing their hubs in the region. Because of its rich culture, diverse market, and vibrant trade routes, the MENA region has become an epicenter for brands who want to make a global presence.
With half a billion people as prospective customers and a booming marketplace, one of the most significant transformations witnessed in the Mena region is the rise of e-commerce. Let’s have a look at what caused this rise and find out the possible ways to improve and leverage such a thriving industry.
Cause of the rise
Here are some common reasons that fueled the growth of e-commerce in the Mena region.
Consumer behavior shift
With e-commerce offering convenience and accessibility, a wide range of choice options, competitive pricing, secure payment, and lucrative return policies, people are getting more inclined towards online shopping than traditional offline shopping. Moreover, with the surging prices of real estate, running an e-commerce business proves to be more economical for brands compared to running a business by setting up a physical store.
Effective online features
Yet another factor that has highly influenced the rise of e-commerce is the online features and functionality. From running a personalized advertisement based on your customers’ engagement to reaching out to them through various online customer touchpoints such as live events, brands can have more control over how they engage with their audience.
New trends
The increase in the use of social media has also unveiled new online shopping trends, one of which is social commerce. Through social commerce, which can be considered as a branch of e-commerce, customers can directly buy from the brand without leaving their social media app. It also facilitates various activities, such as product discovery, ratings, recommendations and loyalty programs.
Opportunities
Since e-commerce is fairly new compared to other forms of business, some areas still need improvement, enabling the industry to reach its maximum potential in the Mena market.
Localize marketing
The Mena region has a diverse audience that speaks different languages and has different fashion choices and social values. Hence, adapting e-commerce strategies according to local preferences and cultural norms will greatly help brands build a strong relationship with their target audience.
Improving logistics
Last-mile delivery, which is basically the delivery of items from a delivery hub to their final destination, such as a residential address or retail, has been one of the significant logistics challenges in the Mena region. Addressing the possible areas that are causing the problem and streamlining the logistic process will greatly help achieve a high delivery percentage.
Secure payment
By offering multiple payment solutions, such as UPIs with more international bank integrations, brands can ensure optimum customer satisfaction with improved sales. Moreover, having been certified by a reputed authority is another way to keep the customer’s payment-related security concerns at bay.
It is inevitable that the e-commerce business is going to be a leading player in the Mena marketplace. By understanding the characteristics of the region and addressing customer’s pain points, businesses can unlock the true potential of this thriving landscape and make a mark in the industry. With the help of e-commerce professionals listed on the Finding Mena platform, aspiring businesspeople can take constructive steps toward their goals. Visit the website to learn more.
