Doha: This year’s online sales market is projected to enhance rapidly with an estimation of 10.6 percent annual growth as the revenue is expected to reach QR13.69bn ($3.76bn) in Qatar.
The increasing number of activities reported for online sales and products in the region indicates a vital sign of significant growth in the e-commerce market.
Statista, a research-based data-delivering portal stated in its report that the market is stable with rising goods purchased online across the country and is resulting in a projected market volume of QR20.39bn ($5.60bn) within the next four years.
However, in its previous edition, Statista reported that the sector could potentially reach around QR17bn ($4.67bn) in 2023. The report noted that “In the eCommerce market, the number of users is expected to amount to 2.5 million users by 2027.”
Qatar’s online sales sector is steadily growing with more individuals opting to purchase products according to their convenience.
A report by Qatar Chamber said: “Currently, Qatar ranks seventh in e-commerce among the business-to-consumer sector in terms of the volume of transactions in the Middle East and North Africa, with huge expectations for the continuation of this increase, as the volume of online shopping, is estimated at $25 trillion in sales globally in 2018, with the number of e-shoppers reaching 1.66 billion worldwide, including nearly 9 percent of the international retail market.”
The report also highlights the augmentation of the online purchasing industry post-Covid and other negative factors that impacted the market.
Statista in its latest data also notes that “User penetration will be 83.4 percent in 2023 and is expected to hit 89 percent by 2027.” The expanding e-commerce sector in the country eventuates in strengthening Qatar’s economy and renewing more sales in the online platform.
