According to reports, Trendyol, a Turkish e-commerce company owned by Alibaba, has started to expand its business in Saudi Arabia and the United Arab Emirates, and these two countries have appeared in its official website options. In addition, Trendyol has added Arabic options. It is understood that in 2022, Trendyol launched the German site and set up an office in Berlin. In May this year, Trendyol announced its entry into the Azerbaijani market.
However, this is only the beginning. Looking ahead, Çağlayan Çetin, head of Trendyol Group, said: “We are trying to accelerate the pace of entering the markets of the Middle East Gulf countries. We believe that through unremitting efforts, Trendyol can also succeed in markets such as Saudi Arabia. ”
It can be seen that Trendyol’s ambition is no longer limited to the Turkish e-commerce market. Behind the rapid expansion, Trendyol’s real goal is the Middle East e-commerce market, which has great development potential.
The report shows that in recent years, with the rapid increase of Internet penetration rate in the Middle East, the e-commerce market in the Middle East has also ushered in rapid growth. From 2020 to 2023, the growth rate of e-commerce in the Middle East and North Africa exceeded that of any other country, and the enthusiasm for online shopping in the Middle East also rose sharply. This obviously provides an opportunity for the rise of e-commerce platforms such as Trendyol.
According to the forecast of Mordor Intelligence, by 2028, the scale of e-commerce market in the Middle East and North Africa will double, and the compound annual growth rate is expected to reach 11.5%. It is worth mentioning that by 2025, the scale of the e-commerce market in the Middle East is expected to reach 27 billion US dollars, among which the e-commerce revenue in the United Arab Emirates, Saudi Arabia and other markets is growing strongly.
It is conceivable that Trendyol’s strength will be greatly enhanced if it can gain a foothold in markets such as UAE and Saudi Arabia.
Post time: Sep-08-2023