The online sales platform in Qatar is estimated to reach QR17bn ($4.67bn) in 2023, according to a report by Statista. The research and data analysing group show a salient rise in the e-commerce market resulting in gaining profits for the industry in coming years.
While numerous firms in the country are focusing on providing customers via e-commerce platforms hassle-free, citizens and residents are opting for online shopping according to their convenience. This has strengthened the industry and helped in reinforcing Qatar’s economy. The data also shows that the industry is optimistic about surging at a compound annual growth rate (CAGR) of 11.32 percent in the next four years enabling the sector to expand steadily and supply products to customers across the country.
The market volume is expected to reach a volume of QR26.11bn ($7.17bn) by 2027, with a vital increase in CAGR. E-commerce market volume in 2023 forecast a whopping QR5,083bn ($1,396bn), while most of the revenue is generated in China, the study shows. The enlarging industry evinces a robust platform to fortify the country’s economy eventuating in more sales in the online platform.
The data reveals that in the next four years, the number of users is anticipated to reach a total of 2.5 million users across the region. Statista’s report states that in 2023, user penetration is expected to hit 74.8 percent and will grow by nearly 2.8 percent by 2027. The report also indicates that the average revenue per user (APRU) will be reaching QR7.50K ($2.06K).
With the concluded global tournament and upcoming international events, the achievement rates in the market are expected to patently increase driving Qatar’s economy towards positive revival.
