Unicommerce expands operation in Saudi Arabia
Thursday - January 14, 2021 12:36 pm , Category : BUSINESS
New Delhi, Jan 14 (IANS) E-commerce focused software-as-a-service (SaaS) platform Unicommerce on Thursday announced to foray in the Middle-East market, with setting up operations in Saudi Arabia.The company said its aims to deepen its presence in Middleâ€“East and South-east Asia with almost 300 per cent growth in its international customer base. Currently, the company is processing over 20 per cent of India's e-commerce volumes."With a strong foothold in India, we are happy to expand further in the Middle-East. The Middle-East region is witnessing a similar growth pattern like India," said Kapil Makhija, CEO, Unicommerce."We will be hiring more people in the region to support our growth plans."Post commencement of operations in the Middle-East (Dubai) in 2018, Saudi Arabia became the ideal choice for the company considering its rich economy and its growing internet user base and e-commerce market growth. Unicommerce recently onboarded companies like Advanced ICT Innovation Group and Safebox in Saudi Arabia and plans to add a lot of other leading brands of the region.According to third-party analytics platform Statista, the e-commerce market in Saudi Arabia is expected to show an annual growth rate (CAGR 2020-2025) of 6.6 per cent, resulting in a projected market volume of $8,697 million by 2025 and user penetration is expected to hit 92.5 per cent by 2025. The company processes more than 700,000 order items per day, amounting to more than $2.5 billion GMV for over 10,000 registered customers across India, Middle East and Southeast Asia.