Sun, 28 August 2022
The monthly e-commerce transactions in Bahrain are expected to hit a staggering BD400 million during the second half of 2022. This is a surge of 21.7 percent over the monthly average of BD313 million recorded in the first half of this year.
This projection was made by Homie’s Digital Transformation Expert and Chief Digital Officer, Sadiq Abdul Rasool, who attributed the increase to the Back-to-School season, sales and the return of citizens and residents following their summer vacation.
"In addition, the expansion of ‘Buy Now, Pay Later’ services in the Kingdom of Bahrain is contributing to the recovery of both: e-commerce and digital payments," explained Mr. Rasool.
In this regard, Mr. Rasool cited the Central Bank of Bahrain's recently released report, in which it tracked the conduct of over 12.3 million transactions—a rise of 10.9 percent annually and 13.6 percent monthly—and noted that the numbers in this report demonstrate the continuing growth of e-commerce.
He expressed his confidence in the consistent growth of e-commerce in Bahrain due to the adoption and application of modern supporting technologies, including the increasing prevalence of digital stores, the inclusion of chatbots within the e-store, and the use of AR technologies that give a comprehensive idea of the characteristics of the product.
“This development will further upgrade Bahrain's e-commerce platforms and enhance its local and regional competitiveness. There are great opportunities in this area; for instance, Namshi website was sold to Noon, for USD 335 million. This confirms the investment feasibility of e-commerce,” he concluded.
For more information, visit www.bahrainthismonth.com/updates.