\nSaudi Arabia’s e-commerce industry will expand at a compound annual growth rate of 20.9 per cent within the next four years,\u00a0market intelligence company Renub Research said.<\/p>\n
The kingdom’s online retail<\/a> revenue is expected to reach $20 billion in 2027.<\/p>\n Retailers will be able to cash in on the growing e-commerce industry, thanks to a 99 per cent internet penetration rate in the country, which reached 36.31 million people in January this year.<\/p>\n In the same month, Saudi Arabia also boasted 29.10 million social media users, accounting for 79.3 per cent of the total population.<\/p>\n Furthermore, there were 42.50 million active cellular mobile connections in Saudi Arabia in early 2023, which equates to 115.9 per cent of the total population.<\/p>\n Fashion stands out as a key sector in Saudi Arabia’s retail market, a report by Renub documented.<\/p>\n Riyadh and Jeddah will contribute most toward the country’s growing e-commerce customer base.<\/p>\n “Both men and women show a growing interest and purchasing intent for clothing, apparel, footwear, and accessories. The country’s young population, in particular, is driving this trend, contributing to one of the world’s fastest-growing retail markets. E-commerce represents the most significant opportunity for fashion, with numerous new online retailers and traditional brick-and-mortar businesses pursuing omnichannel strategies,” Renub said.<\/p>\n The growth of the online fashion<\/a> market can be attributed to immersive tools like 3D try-and-buy technology.<\/p>\n