Doha, Qatar is seen to be advancing across all areas. This year’s online sales market is estimated to enhance fast with around 10.6 percent annual growth because the revenue is expected to reach about QR13.69bn or $3.76bn within Qatar. The increasing amount of activities that are reported for online sales as well as products in the region shows an important sign of major growth within the e-commerce market.
Statista that is a research-based data-delivering portal, claimed in its report that this market tends to be stable with an increasing amount of goods brought online throughout the country. This is leading to a projected market volume of around QR20.39bn or $5.60bn. This will be inside the coming four years.
In its previous edition, it was seen that Statista claimed that the sector may potentially reach about QR17bn or $4.67bn within 2023. It was stated in the report that within the e-commerce market, the amount of users is projected to reach 2.5 million users by 2027. Qatar’s online financial growth is therefore increasing.
Growth of Qatar’s online sales sector
Qatar’s online sales sector can be seen to be steadily increasing with more people choosing to buy products according to their needs and convenience.
There was a report by Qatar Chamber that claims that presently Qatar is seen to rank seventh when looking at e-commerce amongst the business-to-consumer sector. This is concerning the volume of transactions within the Middle East as well as North Africa. There are major expectations for the advancement of this increase, because the amount of online shopping is said to be at $25 trillion in sales globally in 2018. The amount of e-shoppers is said to reach 1.66 billion worldwide. This includes about 9 percent of the international retail market.
This report also looks at the augmentation of the particular online purchasing industry post-Covid as well as other negative points that impacted the market.
In Statista’s latest data, it was stated that the user penetration will be around 83.4 percent in 2023. It is said to hit 89 percent by 2027.
With the help of the expanding e-commerce sector in Qatar, this can strengthen the country’s economy and also renew more sales within the online platform. This will help in the economic advancement of the country. It is already seen as a small country that is rich and is advancing its infrastructure so that residents can have a good standard of living.