Dubai: After anchoring itself in the UAE marketplace, Souqplace.com has set sights on Saudi Arabia.
According to estimates, Saudi Arabia and the UAE together last year made up 75 per cent of e-commerce transactions in the region, with Saudi Arabia registering a growth of 37 per cent.
“Saudi Arabia has always been on our radar since the time we launched Souqplace.com,” said Tony N. Al Saiegh, executive director of Virtual Dusk, the holding company of Souqplace.com.
“It is one of the most promising markets for e-commerce in the region and we are hopeful that the amount of support received in the UAE within a short span is replicated in Saudi Arabia.”
The UAE operations were launched in 2015.
Products available on the platform include electronics, fashion, watches, beauty and home products. The platform has grown from 200-plus small and medium-sized enterprises (SMEs) and brands being associated with it in 2016 to 400-plus brands now.
The unique visitor numbers have seen a 100 per cent per cent increase since 2016. There are a total of 50,000-plus products currently listed on the platform.
