A report by the Riyadh Chamber revealed that the volume of e-commerce transactions in the Kingdom reached $5.7 billion in 2020, after the sector grew significantly since its inception in 2001 to become one of the largest global markets in 2019 due to the pandemic.
The Riyadh Chamber, represented by the Business Support Sector Observatory, issued a report on the reality of e-commerce in the Kingdom, with the aim of identifying the importance of the sector globally and locally, and promoting it through data from relevant government institutions in this matter, the views of companies on e-commerce in terms of its advantages and disadvantages, and the most important problems and challenges of this sector and the proposed solutions.
The report confirmed that the increasing availability of the internet and social media platforms has led to an increase in opportunities for conducting e-commerce this year, revealing several reasons that have enabled the current rise in e-commerce, the most important of which are the ease of using the internet worldwide, the increase in sales value (growth in payments), and the increase in economic return, in addition to the new coronavirus virus.
The report on the contribution of e-commerce to the Kingdom in national accounts showed a return of 10.482 million dollars last year, according to the e-commerce sectors, with the clothing and footwear sector coming in at about 3209 million dollars, then electronics at 2998 million dollars, then furniture and home appliances at about 1477 million dollars, and the lowest return from food and medicine at 776 million dollars.
The data indicated that e-commerce is growing significantly in retail trade, and is one of the most positive sectors, while the least affected sector by e-commerce is vehicle repair.
The report stated that the Global e-commerce index last year showed that the Kingdom ranked second in the Arab world and 49th globally among the 152 countries included in the recently released index by the United Nations Conference on Trade and Development (UNCTAD).
The report indicated that the users' internet consumption rate increased by 34 percent last year during the Corona pandemic compared to 2019, according to information released by the Communications and Information Technology Authority, as well as the increase in the percentage of the population's consumers to about 82.6 percent of the total population, an increase of 7 percent resulting from the natural population increase and the increase in the number of users caused by Corona during that period.
The report indicated that data from the Ministry of Commerce indicate that the number of licensed e-commerce stores has increased by about 14 percent compared to 2019, as well as the number of e-commerce store business registrations reached 28,676 stores and e-commerce platforms at the end of the first half of 2020, an increase of 3,571 e-commerce platforms compared to 2019, which saw a 14 percent increase.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>A report by the Riyadh Chamber revealed that the volume of e-commerce transactions in the Kingdom reached $5.7 billion in 2020, following significant growth in the sector since its emergence in 2001, which led Saudi Arabia to become one of the world\u2019s largest markets in 2019 due to the pandemic.The Riyadh Chamber, represented by the Business Support Sector Observatory, issued a report on the state of e-commerce in the Kingdom, \u2026 Read 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