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FinancialNews
16-10-17
Online retail business up to challenge in Saudi Arabia
(MENAFN) As most Saudi people go to giant-air-conditioned malls for shopping, and they pay in cash, building an online retail business will not be easy in a country rarely uses postal codes.
However, two well backed companies are trying to create an online retail business, Amazon and Noon, gambling that young Saudi population will eventually give in to the online consumer market.
Co-founder of Dubai-based delivery app Fetchr, Joy Ajlouny, commented on the subject matter, "We realized nobody in Saudi really has a formal address, but everybody has a smart phone attached to their hip".
After months of delays, Noon.com launched in the UAE on Oct. 1 and said it would enter the Saudi market "within the coming weeks".
MENAFN1610201700450000ID1095953288
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