Event Overview
Saudi Arabia’s E-Commerce Market is expected to reach US$ 20.01 Billion in 2027. The digital economy has grown dramatically over time, with internet connectivity becoming widely available worldwide. As part of the country’s Vision 2030 initiative, – aimed at reducing its dependence on oil revenues and fostering growth in non-oil sectors, – the retail sector has experienced substantial investments and regulatory reforms to foster competition.
E-commerce has caused a paradigm shift in the Saudi Arabian local retail market. Offering convenience and accessibility to customers, consumers increasingly opt for online shopping over brick-and-mortar stores. This shift has created job opportunities, from online marketing and web design to logistics. It has leveled the playing field for emerging small and medium-sized businesses to compete with established players in the market.
The Saudi Arabia retail market encounters multifaceted challenges that shape its dynamics and growth trajectory. Rapid technological advancements have led to the rise of e-commerce, altering consumer behaviors and expectations. Traditional brick-and-mortar retailers face the challenge of embracing digital transformation to remain competitive.
Milestones Achieved
Traditional Retail
Traditional markets remain an integral part of Saudi Arabia's retail culture, offering a unique shopping experience. However, there's a noticeable shift toward modern retail, with shopping malls becoming popular hubs for international and local brands.
Ecommerce Boom
The ecommerce sector has witnessed significant growth, fuelled by increasing internet penetration and a surge in smartphone usage. Consumers are increasingly turning to online platforms for convenience, variety, and competitive pricing. Notably, the acquisition of Souq.com by Amazon has catalysed the integration of global ecommerce practices.
Government Initiatives
The Saudi government has implemented strategic initiatives to propel the retail and ecommerce sectors into the digital age.
Vision 2030
Launched in 2016, Vision 2030 is a comprehensive blueprint for economic diversification. In the context of retail and ecommerce, it aims to reduce the country's reliance on oil revenue by fostering a dynamic digital economy. This includes supporting entrepreneurship, attracting foreign investment, and promoting innovation in the retail sector.
E-commerce Law
The introduction of the E-commerce Law is a crucial step in regulating online business activities and ensuring a fair and secure digital marketplace. The law addresses issues such as consumer protection, electronic contracts, and the responsibilities of e-commerce platforms. Investment in Infrastructure: The government is actively investing in digital infrastructure to support the growing demands of the ecommerce sector. This includes improvements in internet connectivity, logistics, and payment systems, creating an ecosystem conducive to the seamless operation of online businesses. These government initiatives collectively contribute to creating a conducive environment for the growth of both traditional retail and ecommerce, fostering innovation, and ensuring a regulatory framework that instils confidence in consumers and investors alike. The aim is to position Saudi Arabia as a regional hub for retail excellence and technological Innovation.
Industry focus
Retailers / E-tailers
Consumer Electronics
FMCG
Jewellery
Health & Beauty
Furniture, Home & Garden
Apparel, Footwear & Accessories
Grocery, Food, CPG & Pet supplies
Flowers, Gifts & other party supplies
Entertainment, Cinema, Theme Parks
Delegate Profiles
CEOs, COOs, CMOs, CIOs, CFOs, and CTOs, VPs, Group Heads, Directors, and Regional Managers for:
Customer Service
Digital
eCommerce
IT
Operations
Payments
Strategy
Security
Supply Chain
Technology
Transportation
Warehouse
Our Speakers
Hesham Elsayed Haggag Shoula
Marketing Director
Almanea Co.
Shareef Hendricks
Head of Retail and Brand
M.A. Al Abdul Karim & Co
Fawaz Hennawi
Assistant Vice President
Noon
Ahmed Elbanna
Commercial Director - Electronics
Almanea
Mitesh Dave
Head of Retail, E-Commerce and Business Excellence
Lifestyle Retail-Landmark Group
Dinesh Maurya
Director of Retail Operations
GMG
Hesham Saad AL Ghamdi
Corporate Chief Data & Analytics Officer
Abdul Latif Jameel
Shamim Akhtar
E-commerce Country Manager
Brands for Less Group
Ali Shareif
CEO
Al Othaim Life
Our Sponsors
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