Monsha'at's new report highlights e-commerce growth, showing SAR 1.6 billion in funding for 2023 and a projected 34.5 million e-commerce users by 2025, with a 42% increase in users from 2019 to 2024.
The report explores the impact on SMEs, emphasizing opportunities for growth and expansion while also addressing challenges such as competition and resource limitations.
Featuring expert insights and success stories, the report includes an interview with e-commerce adviser Muhannad Al-Mulhim and profiles of notable entrepreneurs, and is complemented by Monsha'at's "The Market is Your Game" campaign to encourage e-commerce participation.
Riyadh, August 28, 2024 — The General Authority for Small and Medium Enterprises (Monsha'at) has unveiled its latest report titled "Small and Medium Enterprises and Promising Prospects for E-Commerce," offering an in-depth analysis of the e-commerce landscape in the Kingdom of Saudi Arabia and outlining government initiatives aimed at supporting the small and medium enterprises (SMEs) sector.
The report, available in both Arabic and English, provides comprehensive statistics and insights into the burgeoning e-commerce sector within the Kingdom. It highlights a significant upward trajectory in e-commerce activities, with funding for e-commerce projects reaching SAR 1.6 billion in 2023. Additionally, the number of e-commerce platform users is projected to hit 34.5 million by 2025. The report also documents a notable 42% growth in the number of e-commerce platform users between 2019 and 2024, underscoring the sector’s dynamic expansion.
A focal point of the report is its examination of how e-commerce is impacting small and medium enterprises. It outlines the vast opportunities for growth and expansion that e-commerce presents, including overcoming traditional barriers to entry and accessing a wider customer base. However, the report also addresses the challenges SMEs face, such as intensified competition, limited resources, and inventory management issues that could impede their growth within the e-commerce domain.
In addition to statistical analysis, the report features expert insights, including an interview with Muhannad Al-Mulhim, an e-commerce adviser at the E-Commerce Council. Al-Mulhim offers a perspective on the current state of the e-commerce sector and the support mechanisms available for SMEs. The report also delves into emerging trends and innovations poised to shape the future of e-commerce.
The report showcases success stories from notable entrepreneurs in the e-commerce space, including Abdulaziz Al-Loughani, Chairman and CEO of Floward, and the founding president and CEO of Torood. These profiles highlight the achievements and contributions of leading figures in the sector.
Serving as a valuable resource for entrepreneurs, investors, and other stakeholders, the report is part of Monsha'at’s ongoing series of specialized publications designed to inform and guide those interested in the entrepreneurial landscape of the Kingdom. Complementing this report, Monsha'at has also launched an awareness campaign titled "The Market is Your Game," aimed at encouraging entrepreneurs, particularly women, to engage with e-commerce and to familiarize themselves with the support services provided by Monsha'at and other relevant entities.
This latest publication underscores Monsha'at’s commitment to fostering the growth of SMEs and advancing the e-commerce sector in Saudi Arabia, providing a clear and actionable roadmap for stakeholders involved in this vibrant and rapidly evolving field.