As a leader in the e-commerce field in the Middle East, Souq shopping platform has attracted many companies to join it with its unique advantages. In this article, we will deeply analyze the advantages of the Souq platform and explore why this platform is so worthy of investment by companies.
1. Blue ocean opportunities in the Middle East market.
Founded in 2006, Souq has now become one of the earliest e-commerce platforms with the highest market share in the Middle East. The Middle East is one of the fastest growing regions in the global e-commerce market.
For companies, Souq represents an important opportunity to enter the Middle East market. Its huge user base and growing market demand provide a broad space for development for settled companies. The blue ocean opportunities in the Middle East market make Souq an ideal platform for companies to seize market share.
2. Solve logistics and payment problems.
Although the Middle East market has great potential, the imperfections of logistics and payment systems have always been a problem for the development of cross-border e-commerce. Souq has successfully solved these problems, providing companies with efficient logistics and payment solutions, opening up new opportunities for cross-border transactions.
Souq’s Payfort gateway and Q Express, its self-built last-mile logistics service provider, provide sellers with a reliable and efficient logistics and payment system. This not only simplifies the business process of enterprises, but also greatly improves the convenience of transactions. Through these innovative solutions, Souq provides enterprises with a broader market coverage, making cross-border transactions in the Middle East more unimpeded.
3. Rich sales categories and lucrative profits.
The rich sales categories of the Souq platform are impressive. With 45 million monthly active users, it provides 8.4 million different products covering 31 categories. The average customer unit price of e-commerce in the Middle East is about US$100, which brings considerable profits to sellers.
On the Souq platform, some sellers have achieved brilliant results with annual profits exceeding 30 million. What is more noteworthy is that most of these sellers are not companies with cross-border e-commerce genes and operating experience, but have successfully transformed online through the Souq platform. For those experienced sellers, the Souq platform provides more considerable sales and profit potential.
4. Requirements and opportunities for entry.
For sellers who want to enter the Souq platform, there are some requirements that need to be met. First of all, the seller must have a UAE business license or UAE ID card, including local ID card, phone number, tax number and bank account. In addition, the seller must also have local storage facilities and shipping addresses in the UAE to ensure compliance with local laws and regulations, and provide a formal corporate identity and localized warehousing and logistics support.
For novice sellers, it may take some time to explore the platform rules when joining the Souq platform for the first time, but patience and understanding the process of rules are worth it. Following the platform rules is the key to ensure smooth product sales, because violating the rules may affect the sales volume of the product.
In summary, the Souq shopping platform has become a highly regarded leader in the e-commerce industry in the Middle East with its market share in the Middle East, its strength in solving logistics and payment problems, and its rich sales categories and lucrative profits. For enterprises, Souq provides an excellent opportunity to seize the huge e-commerce market share in the Middle East by opening up the market on this platform. Whether you are an experienced seller or a new entrant, you can find development opportunities that suit you on the Souq platform. In this blue ocean market, Souq has laid a solid foundation for the success of the business.