Press release
Saudi Arabia Online Fashion Market is Expected to reach around SAR 4.6 billion by 2022: Ken Research
• Entrance of international players and trending products will drive the sale of fashion products on E-commerce portals.
• Interest free EMIs, credit card discounts and cash back offers will make large and expensive items affordable which will drive the online market.
Saudi Arabia online fashion market growth will be mainly driven by rise in easy availability of the size, information accessibility of product on the website, increase in the fashion trends, effortless return & exchange of products and growing penetration of internet and smart phones. Increased competition from new players entering the market as well as fast changing technology is expected to further disrupt the market. Market will be driven by addition of more promotional offers such as interest free installments, discounts on transaction done through debit and credit cards and cash backs offers, boost in smart phone shipment and falling cost of internet and smartphones. Improving technology and added features in phone will further promote the use of mobile applications, payments and others for online transactions.
Analysts at Ken Research in their latest publication “Saudi Arabia Online Fashion Industry Outlook to 2022 – By Apparel, Footwear and Fashion Accessories, By Menswear, Women wear, Kids wear, by Footwear (Sneakers, Flip-Flops, Sandals, Boots), by Apparel (Top, Dresses and Bottom, Jackets, Shirts and Shorts)” suggested that the GMV for online fashion market increased at a significant growth rate i.e. 37% during the period 2016-2017, which has resulted from people shifting to online market. Discount and promotional offers played a key role in attracting customers on E-commerce markets which helped online players to create a base for loyal customers who want to shop online along with reaching out to the prospective customers by promotional offers.
Saudi Arabia online fashion market is expected to register positive CAGR of 20.2% during the period 2017-2022. Commitment to regularize market, transparent pricing and technological know-how along with improving market consolidation are expected to have positive impact on the overall GMV of the online fashion market.
For more information about the publication, refer to below link:
https://www.kenresearch.com/technology-and-telecom/it-and-ites/saudi-arabia-online-fashion-market/143000-105.html
Related Reports:
https://www.kenresearch.com/technology-and-telecom/it-and-ites/india-online-fashion-market-report/83416-105.html
https://www.kenresearch.ae/technology-and-telecom/it-and-ites/south-korea-online-retail-market-report/695-105.html
https://www.kenresearch.com/technology-and-telecom/it-and-ites/vietnam-ecommerce-market-research-report/926-105.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
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