E-commerce transactions in the Kingdom of Saudi Arabia recorded about $5.7 billion during 2020, making the Kingdom one of the largest electronic markets in the world.
According to a report issued by the Riyadh Chamber on the reality of e-commerce in the Kingdom, it stated that the strength of the Internet and social networking sites led to an increase in opportunities to engage in e-commerce in 2021.
The report revealed several reasons that enabled the emergence and brightness of e-commerce at the present time. The most important of which are the ease of use of the Internet in the world, the increase in the value of sales and the high economic return, in addition to the repercussions of the Corona pandemic.
The report shows that e-commerce in the Kingdom contributed to the national product with a return of 10.48 billion dollars in 2020, while the clothing and footwear sector came with 3.2 billion dollars, then electronics with 2.99 billion dollars, then furniture and household appliances with 1.47 billion dollars, and the lowest return comes from food and medicine with 776 Million dollars.
The data indicated that e-commerce is clearly growing in retail trade, and is one of the most positive sectors, while the sectors least affected by e-commerce are vehicle repair.
It is noteworthy that the Global E-Commerce Index for the year 2020 showed that the Kingdom ranked second in the Arab world and 49th globally among the 152 countries included in the index recently issued by the United Nations Conference on Trade and Development (UNCTAD).
The report indicated that the rate of Internet consumption of users increased by 34% in 2020 during the epidemic compared to 2019, according to information issued by the Communications and Information Technology Commission, as well as an increase in the number of consumers from the population 82.6% of the total population, an increase of 7%.
He pointed out that the data of the Ministry of Commerce indicated an increase in the number of licensed electronic stores by 14% compared to 2019, as well as an increase in the number of commercial records for electronic stores to reach 28,676 stores and e-commerce platforms, at the end of the first half of 2020, an increase of 3,571 electronic platforms compared to in 2019, which amounted to an increase of 14%.
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