Souq is the largest e-commerce platform in the Middle East. It is known as the “Amazon of the Middle East” for its outstanding business performance and broad market prospects. The platform was founded by Syrian entrepreneur Ronaldo Mouchawar in 2006 and has quickly become an e-commerce giant in the Middle East over the years. So where are the advantages of the souq platform?
Souq’s success is inseparable from its unique advantages. First, Souq undertakes the “last mile” delivery service, which makes shopping more convenient. In order to meet the needs of consumers, Souq has established its own logistics system QExpress to ensure the timely delivery of orders. This key infrastructure provides a solid foundation for the smooth operation of Souq.
Secondly, Souq has a wide coverage and influence in the Middle East. The Internet penetration rate and mobile phone ownership rate in the Middle East are both over 70%, which means there are a large number of potential consumers in this region. In particular, people in the rich Gulf countries such as the UAE, Saudi Arabia, and Qatar are enthusiastic about Internet shopping. It is predicted that the scale of online shopping in the Middle East will grow rapidly in the next two to three years. About 5 out of 10 people in the UAE buy goods and services through the Internet. Souq just seized this opportunity and became one of the most popular e-commerce platforms in the Middle East.
In addition, Souq also performed well in terms of product category richness and user stickiness. As a comprehensive e-commerce platform, Souq provides a rich and diverse selection of products, covering various categories, to meet the diverse needs of consumers. At the same time, Souq has also launched its own brand of tablets and plans to launch more self-branded electronic products, further enhancing the brand’s competitiveness and influence. In addition, Souq also focuses on building its own e-commerce culture. In line with the Black Friday promotion in the United States, it launched the Middle East version of the White Friday promotion (White Friday), which has achieved good results. These measures have enhanced Souq’s recognition and loyalty in the minds of users.
Souq has achieved great success in market share and brand awareness, and its traffic in the Middle East is also considerable. According to the global website rankings, Souq ranks around 750th in the world, with monthly IP visits reaching around 45 million, and as high as 76 million visits during the peak season. This traffic mainly comes from the UAE, but now the Saudi market also has great potential. Although the UAE market is relatively mature, Souq still has room for further growth in the entire Middle East, especially in terms of the richness of product categories and user stickiness. With the continuous increase in Internet penetration in the Middle East and consumers’ reliance on online shopping, Souq’s traffic and performance are expected to continue to grow.
In short, as the largest e-commerce platform in the Middle East, Souq has won the love and trust of Middle Eastern consumers with its powerful logistics system, reliable payment system, rich and diverse product categories and unique promotions. With the continuous expansion of online shopping in the Middle East and the continuous demand for online shopping by users, Souq will continue to leverage its advantages and maintain its leading position.