Egypt - eCommerce
Describes how widely e-Commerce is
used, the primary sectors that sell through e-commerce, and how much
product/service in each sector is sold through e-commerce versus
brick-and-mortar retail. Includes what a company needs to know to take
advantage of e-commerce in the local market and, reputable, prominent B2B
websites.
Last
Published: 7/27/2017
Egypt's Electronic Signature Law 15 of 2004
established the Information Technology Industry Development Agency (ITIDA) to
act as the e-signature regulatory authority and to further develop the
information technology sector in Egypt. An e-government initiative has been
implemented to increase government efficiency, reduce service-provision time,
establish new service-delivery models, reduce government expenses and encourage
e-procurement. In 2009, the government implemented the e-signature
service, allowing public and private companies to offer e-signature
authentication.
The Egyptian market has the largest population of internet users in the MENA region. There are around 48 million internet users, of which 8% make online transactions. Most online transactions are in the categories of electronics, entertainment, airline tickets and fashion. E-commerce faces numerous challenges in the Egyptian market: there is a low number of credit/debit card holders - around 10 million - hence 80 percent of e-commerce in Egypt relies on cash on delivery. However, the rate of credit card issuance is growing annually by around 40 percent, which indicates that cash dependency may decrease.
The Egyptian market has the largest population of internet users in the MENA region. There are around 48 million internet users, of which 8% make online transactions. Most online transactions are in the categories of electronics, entertainment, airline tickets and fashion. E-commerce faces numerous challenges in the Egyptian market: there is a low number of credit/debit card holders - around 10 million - hence 80 percent of e-commerce in Egypt relies on cash on delivery. However, the rate of credit card issuance is growing annually by around 40 percent, which indicates that cash dependency may decrease.
Prepared by our U.S.
Embassies abroad. With its network of 108 offices across the United States and
in more than 75 countries, the U.S. Commercial Service of the U.S. Department
of Commerce utilizes its global presence and international marketing expertise
to help U.S. companies sell their products and services worldwide. Locate the
U.S. Commercial Service trade specialist in the U.S. nearest you by visiting
http://export.gov/usoffices.
Egypt is home to the highest number of Internet
users in the Arab world, with over half the population online, accounting for
48 million users.
Alia
el-Mahdy, Professor of Economics at Cairo University, said,
“There
is a lot of potential in the e-commerce market in Egypt. It is a large country
with a huge population and a lot of untapped resources.”
Payfort’s
report on the State of Payments in the Arab World, says
that eCommerce will reach 2.7 billion USD by 2020, showing steep growth given
that in 2014 it was worth just 1.4 billion USD. The leading age group for
online purchases are 26-35 years old.
Mahdy
claims that eCommerce will continue to grow for a number of reasons, “A large
percentage of Egyptians are under 30 years old. There is huge government
support for technology. There is an unprecedented growth on smartphones, and
there is also a greater demand for branded products,” she said.
Egypt
is not without its challenges, 72% of customers use cash for their eCommerce
purchases, and currently only 8% of internet users are online shoppers.
Sherif
El-Rakabawy, founder of Yaoota, says,
“Egypt
remains a cash-based economy, if we move beyond the
domination of cash society, the growth of e-commerce in Egypt would accelerate
even more.”
I don’t suppose many of websites give this kind of information.
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