cCommerce could impact up to 40 percent of MENA retail spend
Zbooni, MENA’s cCommerce (connected commerce) platform, has launched the region’s first white paper on the growing sector that suggests that cCommerce could eventually serve up to 40 percent of MENA’s $1trillion retail market.
The report focuses on the opportunity for cCommerce to connect businesses with customers, both online and offline. Zbooni collated proprietary data which suggests cCommerce has a sales conversion rate of more than 80 percent, which is significantly higher than ecommerce marketplaces which tend to convert under 3 percent of prospective sales. The cCommerce white paper was compiled with insights from brands like Chalhoub Group, Checkout.com and TikTok.
Key findings from the whitepaper include:
Individuals in MEA are spending an average of 3.5 hours on social media every day
67 percent of TikTok users believe it has inspired them to shop, even when they weren’t looking to do so
20 percent of shoppers say they now shop most frequently online within a social media app
MENA cCommerce returns and refunds average just 0.42 percent, compared to 30 percent return rate via eCommerce
Ramy Assaf, CEO and co-founder of Zbooni said, “We are at the cusp of an exciting retail transformation built around personalized selling. cCommerce has the potential to serve businesses across a wide variety of industries, whether they are brick-and-mortar, online-only or omnichannel. Wherever there is an interaction before a transaction, cCommerce can help.”
Assaf added that MENA missed the initial wave of eCommerce and has been playing catch-up, but the region is geared to take full advantage of cCommerce. Most people in MENA use social and chat apps frequently every day and cCommerce is a natural evolution towards shopping in the same way we chat with friends. For businesses, it opens a whole new avenue for engaging customers and maximizing sales. cCommerce could quickly surpass eCommerce, as the region’s preferred way of retailing.
cCommerce takes place via social, chat and messaging apps like WhatsApp, providing physical stores and online brands with a way of turning real-time conversations into converted sales. Businesses can sell more by bringing the check-out experience to the channels that customers prefer and use every day.