E-commerce growth favourable for entrepreneurs in Qatar, says expert

The steady growth of the e-commerce industry, particularly in the Middle East and Africa (MEA) region, bodes well for entrepreneurs in Qatar, which boasts of state-of-the-art digital infrastructure and facilities.

E-commerce expert Harish Nair made the statement during a webinar titled ‘Activating your Online Store with MCIT e-commerce Guidelines’ organised by the Ministry of Communications and Information Technology (MCIT).Nair explained that the annual growth rate of the e-commerce industry in the Mena region stood between “25% and 30%.” Citing multiple markets, such as the US, Europe, China, India, and other large economies, Nair said the percentage growth of e-commerce in these areas is “somewhere around 10% to 15% annually.”“Whereas if you look at the Middle East and Africa, it’s about 25% to 30%, which is really great. The last two years have been a great kick for the e-commerce industry to pick up and be at this level; it’s expected to grow at the same level for the next few years,” he further explained.In terms of global growth, Nair said the e-commerce industry is “about 18%.” In the past decade from 2010 to 2022, Nair said the global e-commerce industry grew from “$500bn” to “a little over $4tn.” He pointed out that this is “quite promising” to any entrepreneur who would like to start an e-commerce business.“On the other hand, if you look at the local market, we have high Internet penetration; we have 5G, a large part of Qatar’s population has a smartphone and access to social media through which a lot of promotion is done for buying and selling different products.“Various kinds of business models are, likewise, being introduced through social media, so the future is promising for e-commerce,” said Nair, who lauded MCIT for staging webinars to help entrepreneurs and SMEs grow their businesses.Nair said e-commerce “is here to stay” and that it will be the platform for many people and businesses to promote their products and services. He said millennials and high-income earners are taking the lead in terms of online shopping, and that consumers are switching brands “at unprecedented rates.”Another reason why people look to e-commerce, according to Nair, is that consumers’ buying behaviour has changed in response to health and safety concerns following the Covid-19 pandemic. He added: “Consumer shopping intent is focused on essentials. In the past, people used to go to shops; they look at and buy multiple things. But now, when they go online, they are very specific as to what they want. They just search for and compare a particular item, and then close out on their sale. It’s very precise, which also means that customers are much more serious about their shopping intent and experience.” During the virtual session, Nair also discussed topics like government processes/business registration, the MCIT’s ‘Theqa Trust Mark’, e-commerce guidelines in Qatar, and how to create your own e-commerce store.