Founded by Ronaldo Mouchawar and Samih Toukan back in 2005, Souq.com, has grown to become one of the largest online marketplaces in the Arab world. But now, the domain, acquired by Amazon in 2017 for $580 million, is all set to make way for Amazon.ae. In fact, it has been learnt that Amazon is promoting a single eCommerce brand and backend system in the middle east. And not just that, the eRetail giant is now encouraging the sellers from the US to contemplate expansion in the UAE as well as Saudi Arabia. While Souq will be missed for sure, you, as a seller have a lot to gain, once you move your store to the eRetail giant, and begin to sell on Amazon UAE. But before that happens, it’s imperative that you get to know all about the Souq-Amazon.ae shift. Here’s a sneak peek:
A Fuss Over Nothing?
The word is that the sellers are being advised not to sign up on Souq. But this is not something that the existing sellers need to lose sleep over. At least for now, they can access their inventory from the Souq Selling Centre. And guess what, the tag of being an Amazon seller in UAE also brings along the access to the coveted Amazon Seller Central. So, if you are a Souq seller, rest assured that there’s nothing to worry about; if anything, this could be your chance to find out all there is to know about Amazon and more importantly, the transition in question.
The Road Ahead
Source: Statista
The transition will take place over time, and while it’s underway, the sellers’ listings will begin to appear on Amazon’s Seller Central. Also, all the important product-related information, including pricing and quantity, will be copied over to Amazon. This will be be done every 24 hours so as to ensure that the listings remain updated. The best part is that sellers will have access to some additional tools, which will help them manage their Amazon UAE store without any difficulty. For instance, they need not initiate withdrawal requests, or can take full advantage of the Buyer-Seller messaging service. It goes without saying that Amazon is an attractive proposition, and Souq sellers should welcome it with open arms.
Customers Are In For A Treat
First things first, customers can continue to buy your products by simply signing into Amazon with their Souq.com credentials (and vice versa). This is unlikely to change even after the transition, when the new domain officially takes over. In addition, they’ll have access to Amazon’s global store, and can buy a lot different products than now. And though here has been no official announcement so far, we are hoping that the customers would get to benefit from Amazon Prime as well in the time to come.
Middle East’s Changing eCommerce Landscape
Source: eMarketer
The eCommerce market in MENA (Middle East & North Africa) is expected to reach $28.5 billion by 2022, according to a report by Bain & Company, a global management consulting firm. The report also suggests that the market in UAE will grow 31% annually and eventually hit the $9 billion mark. Now, there are some challenges of course, including Cash on Delivery (COD) and clogged logistics, but MENA continues to be a once-in-a-lifetime opportunity for businesses looking forward to getting the most out of eCommerce.
Understanding The Dynamics In UAE
The increasing level of internet access is encouraging more and more people in UAE to take to online shopping. And while consumer electronics, computers, and jewelry continue to rule the roost, clothing has begun to gain momentum of late. On a different note, sincere efforts are being made to give the region’s eCommerce sector a much-needed boost. According to Payfort, an Amazon Company, the Arab Federation of eCommerce released a five-year strategy last year, and the local governments are no longer wary of investing in innovation in the space. So, it seems that eCommerce in UAE will continue to expand in the years to come. Not to mention, if you have been thinking about setting up an Amazon store in Dubai, now’s the time.
Whether you are to create a new Amazon listing for Dubai, or would rather optimize an existing one, SunTec India can come to your rescue with result-oriented Amazon product listing services. We can also help you with Amazon store setup. Simply write to us at info@suntecindia.com and we’ll make sure that this is the smoothest transition you ever make.
