What is striking during these days is the long queues at the stores of mail, freight and delivery companies, and this is clear evidence that sales over the Internet are going very quickly, as the Kingdom is the first market in the region in terms of growth and size. Certainly, the Corona pandemic had a major and important role in this rapid growth, as it placed shoppers in front of a single option that has no second option, which is electronic shopping. This growth in e-commerce during this pandemic is consistent with some of the Kingdom’s comprehensive strategic goals, even if this happens during times of crisis.E-commerce is one of the pillars of Saudi Arabia’s 2030 vision, as the government aims to increase the contribution of modern commerce and e-commerce to 80% in the retail sector by 2030, in addition to that, the government hopes to increase the percentage of online payments to 70% by 2030.
Within the framework of economic transformations, the Kingdom plans to invest more than 375 billion riyals in developing the logistical infrastructure to enhance the growth of e-commerce in the region, believing in the global commercial transformations of which the e-commerce market is one of them, so the Kingdom has taken a number of steps to improve the regulatory framework to ensure long sustainability. Term in this sector.
Global figures issued by international organizations indicate that the volume of global online sales has reached levels of 20% of the global total gross product, i.e. a value of approximately 16 trillion dollars, and this number is close to the GDP of the European Union countries if we exclude the United Kingdom from that. This confirms that the future is for this type of trade, especially retail trade.