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The e-commerce market is showing a significant growth rate in the country widening its opportunities in business sectors to expand further. Market Research, a leading provider of industry intelligence for businesses, consultants, and investors reported that the firms in Qatar are having a positive impact on e-commerce world-wide and the country’s industry is “gaining momentum”.
As different companies in the region are competing to get a better e-commerce trend, it eventually results in the robust economy of Qatar.
The Gulf State is expected to show “healthy growth” in the e-commerce market, according to the report.
With the FIFA 2022 tournament that’s currently being hosted, Qatar has already moved to a cashless economy as Qatar Central Bank (QCB) carried out electronic wallets for the customers to enhance the environment and enable Qatar’s electronic payments to surge swiftly.
“Qatar is claimed to be one of the largest e-marketplaces in the Middle East and North Africa,” it said adding that the Qatari regime constantly strengthens the country’s economy by enabling e-commerce platforms to reach every user-oriented individual.
The report outlined that the industry anticipates surging from the previous constraints due to COVID-19 with current and future international events in the country.
“As consumer preferences change and the demand for online household purchases grows, Qatar retailers will develop this new growth by analyzing sales and marketing strategies and expanding and modernizing online sales applications and platforms,” it said.
The online platforms in the country offer unique and trendiest products varying different prices.
At reasonable prices, the e-commerce sector sells the items that are once sold in the markets expensively which helps in enlargening the industry rapidly.
The report said that “many of these sites offer additional sales and promotions at lower prices than those found in the Qatar market.”
As Qatar continues to be home to one of the affordable retail facilities, several investors and visitors shop online making the industry lucrative for the market. The demand for the sector consequently rose with Qatar having the highest GDP per capita in the World.
“By providing world-class e-commerce services and solutions, from online portal development to payment gateways, there is a great opportunity for US companies to compete in the Qatar market,” the report said.
“The market offers e-commerce technology and moderate potential to online sellers of household goods and furniture, electronics, and health and beauty products,” it added.
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