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Amazon All Set To Replace Souq in UAE
UAE
April 2019:
Highlights
- Souq to make way for Amazon.ae.
- The move comes two years after Amazon bought Souq for $580 million.
- Aimed at helping US-based sellers to establish a strong foothold the Middle East market, the transition will lead to a unified brand.
- Souq sellers are being given access to resources to help prep up for the transition.
Nearly two years after buying Souq.com, one of Middle East’s largest online marketplaces, for $580 million, Amazon is all set to launch its own platform in the region. Named Amazon.ae, the platform is being dubbed a “groundbreaking” opportunity for American sellers. In fact, the company has reportedly been encouraging US-based sellers to expand their horizons and foray into the Middle Eastern market, especially in the UAE and Saudi Arabia. With an estimated brand value of approximately 188 billion USD (Source: Statista), Amazon is one of the most valuable brands across the globe. So, it should come has no surprise that the transition has been all over the news lately. But amid speculations of Amazon working towards promoting a single eCommerce brand in the region, there have been murmurs of dissent among Souq sellers.
Ravi Kant, VP, eCommerce, at SunTec India, clarifies, “Souq sellers need not worry. Amazon is making sure that the transition is as smooth as possible. The sellers can refer to resources and familiarize themselves before selling off of an Amazon listing in Dubai. Over time, the price and quantity of their listings will be copied to their Amazon Seller Central accounts. But if they have any have doubt or are not sure how to go about it, we’d be more than happy to help them with the onboarding.”
“SunTec India offers a comprehensive suite of services, including data entry, product management, and image editing, which the company can easily customize for sellers who want to set up a new Amazon store in Dubai, and get the first mover advantage. ” he adds.
Coming back to the transition, Amazon has been reaching out to sellers in North America, apprising them of an upcoming opportunity. And given that that the eCommerce market in MENA is expected to reach $28.5 billion by 2022, Amazon UAE is likely to open new doors, and is therefore already receiving a warm welcome.
Even Souq customers are all excited because they’ll now have access to a great variety of products, including perfumes and electronics, from Amazon’s global store.There has no been official announcement, but speculations are rife that customers may also be able to access Amazon Prime by the end of the year.
In an interesting development, Amazon continues to list job openings for Souq, with positions in Cairo, Riyadh and Amman, Jordan. It is not clear if they’ll be a part of Souq or Amazon.ae. And on a different note, what also remains to be seen is if Amazon Saudi and Amazon Egypt will also see the light of day anytime soon.
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Sugeet Wahal, VP, Digital Content Solutions, SunTecA Free Trial Campaign
Existing sellers or anyone willing to assume the role of an Amazon seller in Dubai can benefit from SunTec India’s free trial campaign before going all in. The company, backed by a team of experts, has what it takes to ensure a hassle-free onboarding. Reach out to us at info@suntecindia.com, and get ready to grab your fair share of UAE’s growing eCommerce sales, which, just so you know, were valued at 21 billion USD in 2018.
