What’s the colour of your money this coming White Friday?

November 15, 2017 7:00 am


The GCC doesn’t have the concept of US Thanksgiving celebrations, which is two weeks away, but curiously enough, they share a similar date, Friday, and a common period of time, namely November 22 to November 27, in which a bonanza of sales are announced and draw millions to spend billions.

In 2016, US e-commerce sales on Thanksgiving, starting from just before Black Friday to Cyber Monday (total of five days), amounted to $12.8 billion approximately, according to Statista, a site tracking business and market performances.

Dwarfing these numbers on its own is China’s Alibaba e-commerce company which, on the strength of 812 million orders within 24 hours on November 11, a day it calls “Chinese Singles’ Day,” sold online merchandise worth more than $25bn, according to Statista.

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What can we expect for GCC sales on Souq.com’s sale that it calls “White Friday,” from November 22- 25, 2017?

A digital super sale

Souq.com announced that it would have 500,000 deals on offer on 16,000 brands for would-be buyers from both the region and Egypt, some as high as 70 per cent.

2017 will see 50 times the amount of deals on offer than in 2016, with information on these discounts delivered via alerts as well as daily countdown deals.

Ronaldo Mouchawar, CEO & Co-Founder, Souq.com, says: “We introduced the White Friday Sale to the region in 2014. This year, we have rolled out credit card payment on order delivery in the UAE for more convenience to our customers. We have also invested heavily in our operations by expanding our fulfillment centres, technology, resources and adding more pick up points for customers. Customers are at the heart of our business, and this White Friday, they will find a wide product selection and hundreds of thousands of deals across all categories.”

Souq.com will be offering free shipping on “Fulfilled By Souq” orders of more than AED 100/SAR 100/EGP 300.

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The discounts will apply to all product categories including mobiles, TVs, large appliances, such as refrigerators and washing machines, cameras, diapers, detergents, fashion products, perfumes, make up, furniture, tools, toys, games and cameras, the retailer said in a statement.

Souq.com is making sure consumers see as well the Amazon Company logo as a way to bring peace of mind and trust with the name association that the global e-commerce giant Amazon brings.

In 2016, Souq.com aimed to sell more than 100,000 mobile phones, 100,000 health and beauty products and 50,000 items within its new fashion apparel and shoes category.

E-commerce Saudi

According to Statista, the Saudi e-commerce market was worth $6.8bn in 2016 and is predicted to be worth $7.7bn in 2017, $8.7 in 2018 and more than $10bn by 2020.

Saudi shoppers prefer clothing, shoes and consumer electronics, which sales in 2016 reached approximately $4bn, with cash on delivery taking the bulk of transactions at 46 per cent.

Saudi has 21 million smartphone users, with the share of online purchases made via smartphone (2017) being 42 per cent in the Kingdom versus 44 per cent in the UAE.

 

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By Hadi Khatib
Hadi Khatib is a business editor with more than 15 years' experience delivering news and copy of relevance to a wide range of audiences. If newsworthy and actionable, you will find this editor interested in hearing about your sector developments and writing about it.



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