Qatar E-Commerce Market - Growth, Trends, COVID-19 impact, and Forecasts (2022 - 2027)

Qatar E-Commerce Market - Growth, Trends, COVID-19 impact, and Forecasts (2022 - 2027)

Qatar's e-commerce sector is expanding at a significant rate, and its enormous growth potential represents many incredible new opportunities for businesses of all types. Companies are showing positive growth in e-commerce worldwide, and Qatar's e-commerce is gaining momentum. The market is expected to grow at a CAGR of 13.6% during the forecast period (2022 - 2027).

Key Highlights

• E-commerce adoption is increasing as more consumers expect their products and services to be delivered digitally, seamlessly, and promptly. Companies are competing to participate in e-commerce trends. In Qatar, the e-commerce market is showing healthy growth over the next few years, especially in the services sector.
• As Qatar continues to move toward a cashless economy towards the 2022 World Cup, the Qatar Central Bank (QCB) used electronic wallets to further develop the environment and make the country's electronic payments high. Qatar Central Bank has also issued a unified specification and standard for QR codes. This allows users to make payments by scanning the response code (QR code) via their mobile phones at retail stores or public transportation.
• Qatar is claimed to be one of the largest e-marketplaces in the Middle East and North Africa. The Qatari government believes in the importance of e-commerce in revitalizing the national economy, apart from its role in attracting entrepreneurs and investors. As a result, many outstanding facilities have been created to accommodate this type of business and create an experienced and healthy atmosphere.
• In addition to the facilities provided to investors, the Qatar government is educating citizens about the mechanism of electronic trading when conducting financial transactions. Qatar and the United Arab Emirates are among the first countries in the Arab world and the Middle East to transfer municipalities to e-space.
• E-commerce activity in Qatar increased significantly in 2020 due to the restrictions imposed on consumers and retailers by the Covid-19 pandemic. As consumer preferences change and the demand for online household purchases grows, Qatar retailers will develop this new growth by analyzing sales and marketing strategies and expanding and modernizing online sales applications and platforms.

Key Market TrendsFashion and Beauty to hold significant growth in Qatar

• The market is primarily driven by a young workforce in countries that are conscious of appearance and willing to invest in personal care. In addition, there is a tendency for various manufacturers to use natural ingredients in cosmetics. This trend addresses the ever-increasing demand from customers for natural or organic cosmetics. These cosmetics are labeled and manufactured by regulations established by government agencies to ensure product safety.
• In addition, consumer demand for improved functionality and environmental friendliness in cosmetic design is revolutionizing cosmetic packaging and design. However, factors such as the limited production in the country and price volatility are restraining the growth of the regional market.
• The online store offers a myriad of unique styles of clothing at different prices and sizes. From elegant boutique styles to cheap everyday street styles, customers can choose the classic wardrobe outfit for everyday errands, including busy college days. In addition, many of these sites offer additional sales and promotions at lower prices than those found in the Qatar market.
• The future of the fashion market was still bleak as Qatar's travel restrictions are steadily increasing and the stock market is plunging during the COVID-19 pandemic. In addition to being a cheap retail destination, many European luxury homes are backed by Qatar's funding, such as Balmain, a fashion house in Paris acquired by Mayhoola, also owned by Valentino, emphasizing the desire of Middle Eastern investors for luxury.
• The wealthy and oil-rich populations of the Gulf countries have consistently shown tremendous demand for European luxury, with Qatar boasting the highest GDP per capita in the world. However, political confinement is indeed dominating the future of fashion. Moreover, social media, digital marketing, and intense connectivity with the world are enabling various brands across the world to establish businesses in the country. This, in turn, leverages the fashion industry in Qatar.

Increased used of internet and mobile phones is driving the market

• As a result of the regulations imposed on customers and shops with the Covid-19 pandemic, e-commerce diversion extensively improved in Qatar in 2020. As patron options shift and calls will increase for extra family purchases online, shops in Qatar are studying their income and advertising and marketing techniques and figuring out approaches to leverage this new and developing fashion via increasing and modernizing their online income programs and platforms.
• According to International Trade Administration, Qatar`s National Vision 2030 consists of a particular goal for the Ministry of Transport and Communications (MOTC) to expand a world-magnificence generation infrastructure and offerings to decorate the pleasant lifestyles in Qatar.
• The last few years of ICT modernization efforts have created an increasingly modern digital environment that can support e-commerce revenues. High credit card penetration and high-speed mobile and landline internet all contribute to the environment that drives e-commerce adoption.
• By providing world-class e-commerce services and solutions, from online portal development to payment gateways, there is a great opportunity for US companies to compete in the Qatar market. The market offers e-commerce technology and moderate potential to online sellers of household goods and furniture, electronics, and health and beauty products.
• Pursuing the adoption of more e-commerce is a viable new to contribute to economic development, improve business efficiency, expand trade and investment opportunities, and promote innovation, diversity, and competitiveness. Qatar is still in its infancy in providing e-commerce services from portal development to payment gateways, leaving room for sector development with solution providers capable of providing globally competitive, world-class e-commerce services.

Competitive Landscape

The Qatar e-commerce market is moderately fragmented, with major players in the country. Further, the competition is increasing with new entrants in the country delivering innovative online shopping technologies and solutions.

• September 2020: IKEA, one of the world's largest furniture brands, announced the launch of an e-commerce store in Qatar to allow local shoppers to order their favorite items online and pay by credit card. To ensure a fast, secure and convenient online payment experience, IKEA has partnered with QNB, the financial institution in the Middle East and Africa, to provide reliable local acquisition services in combination with Mastercard's payment gateway platform.
• March 2022 - Ubuy Qatar, Qatar's popular global online shopping platform, launched the Ramadan Festival sale on its app and website as part of business expansion. Customers can buy favorite products or prepare a Ramadan gift basket for loved ones to fully enjoy this festive period. This shopping platform will help customers start a Ramadan sale and discover good shopping fun. This international shopping site offers exclusive deals and discounts for global brands to make shopping worthwhile.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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