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Internet Commerce Summit 2023 to focus on US$49.78 billion opportunities in the E-Commerce sector in the GCC
The summit which will take place from 16-17 March 2023, at Conrad Dubai, will emphasis on enriching the digital commerce industries which provides combined GDP of US$3.9 trillion across countries in MENA region.
Dubai, UAE; March 15, 2023
E-commerce revenue in the UAE is expected to show an annual growth rate of 8.57 percent between 2023 and 2027, resulting in a projected market volume of US$16.37 billion by 2027;
E-commerce revenue in the GCC is projected to grow at 10.95 percent per annum between 2023 and 2027 to reach US$49.78 billion annually by 2027, up from US$32.85 billion in 2023;
In the GCC E-commerce market, the number of users is expected to reach 44.27 million users by 2027 with user penetration to grow from 67.1 percent in 2023 to 70.7 percent by 2027. The average revenue per user (ARPU) is expected to amount to US$819.90;
More than 150 experts will address a gathering of more than 500 delegates belonging to 300 companies on the phenomenal growth of the e-commerce sector;
The global E-commerce market size is estimated to grow to US$12.95 trillion in 2027.
More than 150 experts will address a gathering of over 500 delegates belonging to 300 companies on the phenomenal growth of the E-commerce sector that is expected to generate US$11.78 billion annual revenue in the UAE and US$32.85 billion in the GCC region this year and the factors behind the growth – at the first Internet Commerce Summit 2023 that will be held at the Conrad Dubai hotel from March 16-17, 2023.
“E-commerce revenue is expected to show an annual growth rate of 8.57 percent between 2023 and 2027, resulting in a projected market volume of US$16.37 billion in the UAE by 2027,” said a report by Statista.com, a global market intelligence provider. “In the E-commerce market, the number of users is expected to amount to 7.32 million users in the UAE by 2027.”
E-commerce revenue in the GCC is projected to grow at 10.95 percent per annum between 2023 and 2027 to reach US$49.78 billion annually by 2027, up from US$32.85 billion in 2023, according to a report by Statista.com.
“In the GCC E-commerce market, the number of users is expected to reach 44.27 million users by 2027 with user penetration to grow from 67.1 percent in 2023 to 70.7 percent by 2027. The average revenue per user (ARPU) is expected to amount to US$819.90,” it said.
According to Technavio, the global E-commerce market size is estimated to grow to US$12.95 trillion in 2027. The market is estimated to grow at a CAGR of 27.15 percent during the forecast period.
Bhavesh Pitroda, Director & CEO of IMAGES RetailME, says, “The E-commerce market in Middle East and North Africa (MENA) is expected to see significant growth over the next few years, with an estimated CAGR of 15 percent between 2023 and 2025.
“This growth is being driven by a number of key factors, including increasing internet penetration and mobile phone adoption; growing use of digital payment methods; and increasing demand for online shopping. Consumers in MENA are increasingly turning to online shopping as a convenient and safe way to purchase goods and services.
“The Vision of Internet Commerce Summit platform is to share exclusive knowledge, actionable strategies and ideas which can help Digital Commerce adoption in the region grow faster.”
Organised by IMAGES RetailME, the first Internet Commerce Summit (ICS) 2023 is a powerful platform that will examine technology transformation, innovation and disruption in the retail and E-commerce sector as well as the future opportunities for the industry stakeholders to benefit from.
Internet Commerce Summit has been conceptualised as a premium new technologies forum that showcases cutting-edge and relevant solutions for multiple industries. The debut edition of ICS Dubai in 2023 will focus on the four pillars of next-generation digital commerce: E-commerce and D2C, Omnichannel retail, Martech, Fintech and Payments technology.
ICS Dubai will reveal how E-commerce players can leverage these multiple trends to build brand power and drive sales.
While all the governments in this region are taking serious steps towards improving the digital commerce market, and usage of the internet for progress of it, Internet Commerce Summit 2023 will boost the attempt further.
ICS has been conceptualised as a premium new technologies forum that showcases cutting-edge and relevant solutions for multiple industries. The debut edition of ICS Dubai in 2023 will focus on the 4 pillars of next-gen digital commerce: E-commerce and D2C, Omnichannel retail, Martech, and Fintech and Payments. ICS Dubai will reveal how E-commerce players can leverage these multiple trends to build brand power and drive sales.
A recent study shows that more than 411 million people inhabits in the Middle East and currently, 93 million people, 63.3 percent of the region’s internet-using population, are active on social media. At 99 percent, Qatar and the UAE lead the region’s social media penetration rate (the UAE with 9.2 million users and Qatar with 2.4 million users).
Though social media penetration in Saudi Arabia is low, it is growing at a rate of 73 percent year-on-year, far exceeding the global average of 21 percent. Social media platforms such as Facebook, Twitter and Instagram play an important role in influencing buying behaviour. Positive brand/product reviews drive sales.
Attendees at ICS cover the entire value chain of digital commerce businesses across MENA, India, Europe and United States. A number of government officials and entities and will be participating in this important 2-day summit. More than 500 delegates, 300+ companies, C suite attendees, 150+ speakers including people from sectors like Etailers, FMCG, Travel & hospitality sectors, Banking, Telecommunication, utilities, media, omnichannel retailers, automobiles, beauty and wellness, manufacturing industries will be attending the ICS Dubai 2023. More than 100 industry exhibitors will display their latest technology, products and services to secure contracts in the digital commerce market.
Justina Eitzinger, Chief Operating Officer of IMAGES RetailME, says, “Digital Democracy is a buzzword ruling the E-commerce domain. It is with all the right practices that this sector is building its powerful existence, and we are ready to map this growth story at ICS 2023.
“The Middle East is already a digital powerhouse and looking at this region’s dynamics, it will be exciting to see the role that technology plays in redefining the narrative. Technology is no longer a vertical of the MENA economy; it is a horizontal enabler of every MENA economic sector, from transportation to education. The Middle East presents a large and rapidly growing opportunity for every sector of the internet business. Let’s join and explore this narrative in the making at ICS MENA.”
Given this shift in consumer behaviour, retailers and vertically integrated brands need to take a holistic view of the benefits of having a physical presence. Online and offline channels are no longer substitutes or competitors. Instead, they are increasingly complementary. Internet Commerce Summit accelerates Omnichannel adoption for brands and retailers with insights, ideas and innovative solutions. Along with this it will also help to propagate the art of marketing in the customer-centric era and bring together the entire Fintech and Payment ecosystem to discuss emerging strategies and technologies which businesses can adopt to serve their customers.
The Internet Commerce Summit 2023 speakers list includes renowned business leaders and changemakers like Brandor Rowberry, CEO – Digital Health, Aster DM Healthcare, Nader Amiri, Founder and CEO of elGrocer, Leena Khalil, Co-founder and CCO of Mumzworld, Glen Radojkovich, Deputy Director of Education, Director of IB and UK schools, Taaleem, Neeraj Gupta, CEO of Policy Bazaar, V Nandakumar, Director Marketing and Communications, Lulu Group International, Abhinav Gupta, CEO, CARS24 – Gulf, Kapil Verma, CPO of Namshi, Damien Corcoran, CEO, Grandiose Supermarket, Piyush Chowhan, CIO, Panda Retail Company – Savola Group, Anthony Nehaenko, Co- Founder and CCO of YallaMarket, Peter Gesper, Senior Vice President of IT, Noon, Sayed Habib, Director, Business Development, Franchise & E-commerce, Danube Home, Mouna Abbassy, Founder and CEO, Izil Beauty, Jacques Wessel Rheeder, MD, THREADS (part of GEMS Education Group), Ashutosh Arun Chakradeo, Chief Retail Officer -GCC, Choithrams, Qasreya Al Awadhi, Founder and CEO of Bumblebee, Mohammad Alabbar, Founder and CEO of AKAAR, Sharad VK, Marketing Director, Century Financial, Mohammad Alawi, Board Member and CEO of Red Sea Markets companies and many more.
The 2-day summit will have various research presentations, speeches, panel discussions, case studies etc. talking and discussing important topics. The first day’s discussion topics includes future of possibilities: towards a new era of internet for the year 2030 and beyond, accelerating the future of e- commerce through a new age of digital democracy, where entrepreneurship, passion, digital meet – what it takes to build an iconic business in the new-age consumer era, evolving to the next-generation of omnichannel retailing, making the internet relevant for stores – crafting the internet experience for our retail stores, how the internet can help scale new markets, reach international customers, and help establish on a global scale, how to build digital agility and induce organizational growth in Middle East enterprises and MENA’s iconic entrepreneurs: lessons in creating a valuable business, and brands that have created a new identity for the Middle East.
On the first day, there will be 2 workshops with separate paid registration. The first workshop will be for 2 hours and on ‘’rom Idea to Launch: the amazon FBA – product launch checklist’ led by Krystel Abi Assi, Founder and head of business development, Amazon Sellers Society and the second workshop will be for 4 hours, on Customer Experience led by Piyush Chowhan, Retail Industry Leader & CIO and Mohit Mathur, CX Expert & CDO.
This conference is a series of such initiatives by IMAGES RetailME – to reflect on the changing digital commerce market dynamics.