souq’s push into physical stores shows ecommerce still has work
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Souq’s push into physical stores shows e-commerce still has work

Arab Today, arab today

Arab Today, arab today Souq’s push into physical stores shows e-commerce still has work

Souq.com opened its first bricks and mortar shop on Sheikh Zayed Road
Dubai - Arab Today

Souq.com’s move into bricks and mortar retail seemingly mirrors the strategy of its suitor Amazon but in fact highlights that the traditional shopping experience still carries weight with UAE consumers. The region’s largest e-commerce platform opened its first ‘customer experience centre’ on Dubai’s Sheikh Zayed Road, it said on Sunday. Customers will be able to view a selection of Souq’s products as well as pick up and return items.
A service centre will provide immediate repairs, such as mobile phone screen changes, and acts as a pick up and drop off point for bigger jobs.
"Trust was an issue for Souq.com in the past but its growth and acquisition of new customers was mitigation against that," said Ronaldo Mouchawar, chief executive and co-founder of Souq.com. "That doesn’t mean that we or the other e-commerce players have totally overcome this barrier with our target audience."
Amazon, which has reportedly been weighing an investment in Souq, has already opened physical book stores in the US and is reportedly planning to expand its network of Amazon Go, grocery stores, to as many as 2,000 outlets if its pilot proves successful.
Even China’s Alibaba, accounting for more than one tenth of the country’s total retail sales, spent US$2.6 billion to acquire a leading domestic department store at the beginning of the year.
"Physical retail continues to be our dominant force [in the UAE]," said Omar Kassim founder of e-commerce market platform JadoPado.com. "At some level it makes sense to figure out ways to get both the physical and virtual to work together rather than apart. I think Amazon’s physical bookstores and its upcoming grocery concepts are a great example of moulding the two together in exciting and efficient ways."
souqSouq.com opened its first bricks and mortar shop on Sheikh Zayed Road on Sunday. Satish Kumar / The National
Online retail is currently estimated to be between 1.5 and 2 per cent of the total retail spend in the Middle East but the store-based retail segment in the Middle East and Africa region only grew by 5.3 per cent in 2015, while online retail grew by nearly 26 per cent, according to Euromonitor International. However, the physical retail sector could be facing an oversupply this year.
"The amount of room for the online to market to grow across Mena, before it effects mall retailers, is massive," said Matthew Green, head of research for property consultants CBRE. "There is, however, a risk of over supply of physical retail space with 270,000 sq m expected to be delivered this year in Dubai alone. Last year saw Dubai’s gross leasable area (GLA) grow by 160,000 sq m so 2017 is a significant increase. Certain demographics are turning to online shopping but the malls here are still important social environments."


Source: The National

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

souq’s push into physical stores shows ecommerce still has work souq’s push into physical stores shows ecommerce still has work

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

souq’s push into physical stores shows ecommerce still has work souq’s push into physical stores shows ecommerce still has work

 



GMT 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant

GMT 01:44 2017 Friday ,15 December

Mennat-Allah underlines importance of landscapes

GMT 04:57 2017 Thursday ,14 December

Trump tells NASA to send Americans to Moon

GMT 21:43 2017 Wednesday ,11 October

Qabil discusses with Swiss delegation improving power

GMT 21:06 2017 Sunday ,17 September

OIC condemns suicide attack in Kabul

GMT 08:27 2017 Thursday ,27 April

Nokia reports another loss as networks sag

GMT 19:41 2017 Monday ,06 February

Elina Svitolina Claims Taiwan Open Title

GMT 09:39 2017 Friday ,03 February

Former Brazilian president Lula's wife dies of stroke
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday