{"id":17931,"date":"2022-07-29T18:45:24","date_gmt":"2022-07-29T18:45:24","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=17931"},"modified":"2022-07-28T18:50:54","modified_gmt":"2022-07-28T18:50:54","slug":"zbooni-processes-200-million-in-transactions","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/07\/29\/zbooni-processes-200-million-in-transactions\/","title":{"rendered":"Zbooni processes $200 million in transactions"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\nZbooni, UAE-based c-commerce platform, announced that it has processed over $200 million in transactions since its launch in 2018.<\/p>\n<p><a href=\"https:\/\/www.meretailnews.com\/2022\/06\/24\/social-media-commerce-will-benefit-smes-in-the-region-says-report\/\">C-commerce<\/a> (connected commerce) refers to sales made through social and communications media.<\/p>\n<p>Zbooni enables online businesses and physical stores to communicate with their customers through <a href=\"https:\/\/www.meretailnews.com\/2022\/04\/19\/snap-inc-launches-virtual-mall-on-snapchat-for-ramadan\/\">social<\/a> and messaging apps, such as WhatsApp.<\/p>\n<p>The platform\u2019s gross payment volume increased by 53 per cent in the first six months of this year.<\/p>\n<p>The company anticipates a triple-digit percentage growth for the full year.<\/p>\n<p>To keep pace with the increase in transactions, Zbooni has doubled its employee workforce, hiring people across numerous departments, including product development, customer service, sales, marketing and operations.<\/p>\n<p>\u201cEvery area of the business is growing, from the number of retailers and merchants we are serving, to headcount in every regional office, and the roll-out of new products and services,\u201d said Ashraf Atia, co-founder and COO of Zbooni.<\/p>\n<p>\u201cWe are lucky to have a highly talented team who all take real pride in delivering excellence and this is a strong reason why more and more businesses are choosing to partner with us.\u201d<\/p>\n<p>Companies are likely to sell more products when transactions are done via channels they use every day, said Zbooni in its C-Commerce MENA Report 2022.<\/p>\n<p>Analysis of data showed that 20 per cent of shoppers in the region have made purchases through social media or messaging channels, such as WhatsApp.<\/p>\n<p>With users\u2019 <a href=\"https:\/\/www.meretailnews.com\/2022\/03\/10\/e-commerce-sales-in-middle-east-for-beauty-products-up-since-pandemic-says-report\/\">social media<\/a> activity averaging three hours per day in the region, 54 per cent of shoppers want to chat with brands the same way they do with friends.<\/p>\n<p>While the sales conversion rate on e-commerce marketplaces was calculated to be 2.86 per cent, c-commerce sales showed an 84.9 per cent conversion rate.<\/p>\n<p>Returns and refunds in e-commerce average approximately 30 per cent, while c-commerce manages just 0.42 per cent, said Zbooni.<\/p>\n<p>The report also forecasted that c-commerce could account for 40 per cent of the region\u2019s total retail market, which is valued at $1 trillion.<\/p>\n<p>With 84 per cent of youth in the region strive to be entrepreneurs, Zbooni estimates that c-commerce can benefit over 20 million micro, small and medium enterprises.<\/p>\n<p>In September, Zbooni raised $9.5 million in a Series A round funded by investors from the US, Europe and the GCC.<\/p>\n<p>The company is partnered with numerous merchants across the UAE, Saudi Arabia, Jordan and Egypt.<\/p>\n<p>To date, the platform has facilitated purchases for 600,000 customers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Connected commerce platform crosses $200 million transaction milestone and expects a triple-digit gross payment volume by the end of the year. 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