Best Source for B2B Industry Trends, News and Updates
When we think about the Middle Eastern region, the first thing that comes to mind is growth. All countries have emerged as world leaders in terms of every means, be it economically, socially, politically, and in other terms. The region was considered barren land a few years back, but the land has been gifted with natural resources that are nowhere to be found in the rest of the world. After analyzing the significance of this area on Earth near the sea, endless trade and commerce opportunities have risen, and the people have taken advantage of their location, directly connecting Europe with Asia through sea, land, and air. Middle Eastern countries have different work dynamics. Now, with the evolution of rising technology, they are not left behind but have worked all the way to compete in this field of success, as well as with the rest of the most significant economies in the world.
In this blog, we will discuss all the past, present, and future trends of the e-commerce sector in the Middle East and the rise of wholesale B2B marketplaces promoting E Commerce in the Middle east leading the business world in the region.
Back in the day, people in business in the Middle East used to travel for days to sell and buy their products and showcase their products to local people. People from small villages travel months before any trade expo to reach out to the buyers or retailers who will provide them with the value of their merchandise. Camels and animals were the means of transportation, and ships and watercraft were used by influential people traveling from one place to another for trading.
Fast forward to the new era of technological advancement, people do business on their phones and keep records of every transaction they make or plan to make. Digital meetings and millions of transactions occur every minute, which is increasing due to the increase in accessibility. Middle Eastern nations are evolving with technology, and their governments are providing initiatives and support to expand their wholesale trading sector; businesses in Middle Eastern countries are now becoming digital. They may or may not have physical shops or locations, but they are running online stores with efficiency.
B2B marketplaces have an extensive and significant impact on the trading world in the Middle East. With easy sourcing, frequent checks and balances, availability of a range of products, and affordable prices, these wholesale trading digital marketplaces have everything summed up in them.
These Middle East B2B marketplaces have provided an opportunity for small and medium-sized companies to reach out to the giants of industries through B2B websites. It gives a great chance to expand beyond borders by leaving your place.
The world has become globalized, and people are starting to have similar choices regarding living life. The rising demand for daily consumption products is getting the same, and b2b websites have made it possible to source products from the USA or UK while sitting in Oman. Middle East B2B marketplaces have made it possible to reduce production costs because of less expertise and resources. They can connect wholesalers to various suppliers who can provide them with the business inventory at low per-unit cost.
Similarly, various international companies are entering the Middle Eastern market as buyers and investing their money in locally produced products, creating a healthy business ecosystem that can be rewarding for a long time.
Following are some of the biggest names for mentioning the top B2B eCommerce companies in the Middle east. The below mentioned Middle east b2b directory contributes to the success of the e-commerce sector in the region.
One of the biggest b2b platforms where many wholesale businesses from the Middle East are registered and expanding their professional horizon with global and genuine buyers is Tradewheel.com. The website is dedicated to providing everyone with convenient access to wholesale trade. The website acts as a bridge between genuine buyers and sellers who perform millions of transactions daily. If you are looking for authentic Middle Eastern suppliers who can become your source of investment into the country’s local produce, then you can create an account in the portal as a buyer by submitting basic information regarding your business. On the other hand, Middle Eastern suppliers can look out for many authentic buyers daily as the marketplace is recognized worldwide and receives new entries every day, providing a great chance to expand your business digitally.
Who isn't aware of the e-commerce giant that is Alibaba.com? The website is renowned worldwide and considered one of the world's pioneers of wholesale e-commerce trade. The website was built in 1999 with a vision to become a gateway to reach the rest of the world through trading and to become self-sufficient in producing, selling, and earning from it. Later, the website went global and is now accessible to every country. You can connect with several suppliers from the Middle East registered on this platform and want to join the platform to increase your business inventory. More than 1 billion visits are recorded on the website daily, indicating the high trust of businesses and their managers on this platform for market expansion.
Abraa is translated to a wooden boat that can carry goods from one place to another. The website is home to regional companies; the regional buyers and suppliers interconnect with each other or beyond borders. The website has been connecting businesses for the last decade and working to provide confidence and ease to local buyers and sellers. They provide easy sourcing, lead to authentic suppliers, and offer excellent opportunities to increase business operations. You can find a wide range of products, including daily use products to machinery, electronics, automated parts, and much more, available at wholesale quantity. Abraa has been innovating its way from the very first day, bringing technological advancements that can create more chances for Middle Eastern businesses to upscale on a global level.
Tradeling is one of the top e-commerce platforms in UAE and is renowned across many Middle Eastern countries. Fast and efficient procurement processes and the availability of a wide range of bulk products at wholesale prices have motivated all companies to register on the platform and confidently do business. The website excels in creating local wholesalers' connections with the rest of the world while providing expertise at every step in customization and tailored solutions for respective problems. The website is a one-stop shop for all the registered suppliers and buyers and contributes to making wholesale trade in the region more trustworthy and prosperous.
Biznex is a wholesale Middle East b2b website created as an ultimate solution for local businesses and helps them provide all the e-commerce solutions, from procuring to logistics, in one place. The website takes pride in being locally originated, which brings buyers and suppliers together to proceed with long-term business relationships. They have sensed the need for exposure that small and medium-sized businesses require to challenge their potential, but they don't have a chance due to high competition and lack of marketing knowledge. Their primary focus is understanding local businesses' hurdles regarding market expansion and providing solutions to overcome those obstacles. They have been associated with registered marketing companies in the UAE to provide correct information and marketing expertise at the right time.
In order to analyze the impact, we have mentioned some of the most prominent names of the region alongside the market share of business to business e-commerce websites. This will provide an idea of which country is above and beyond the technological influence and which country has to work up their way to compete with the strongest economies in the world.
Total revenue from the e-commerce market stands at 12.57 billion dollars and expected to grow to 24 billion dollars at the end of the decade. Growth rate 14.36%
The leader among other countries in the Middle East, e-commerce sales are set to produce 12.6 percent of total market sales by 2026.
The Kuwait E-commerce Market is estimated to reach at a CAGR of above 14.28% during the forecast period, 2022-2027.
The e-commerce market share is 8.0% in the Saudian economy, and is estimated to increase by an average of 8.9% to 11.2% by 2028.
Acquiring the high record number of 656.4 million transactions in the fourth quarter of 2023. the market is about to reach at 3.4 billion (turkish lira) by the end of 2024,
Online market share is 2.9% of the total economy, predicted to grow at 5.0% at the end 2028.
Digital market in Bahrain will grow by 6.12% (2024-2028) resulting in a market volume of 3.12 billion dollars.
The Oman E-commerce Market stands at USD 0.66 billion in 2024, and is expected to reach 1.24 dollars billion by 2029, with CAGR of 13.54%
In the end, we can conclude this blog by stating that Middle Eastern countries utilize the best of both digital and traditional trade. The countries are already rich in natural resources such as oil and gas and maintain their wealth by exporting it to the rest of the world. However, they have not limited their functions and encouraged local producers and manufacturers to showcase their potential to the world through online b2b marketplaces. While many challenges come with these benefits, as mentioned above, top e-commerce platforms in the region are working amidst all these obstacles and making their way to the top.
