Bahrain ‘ready to compete globally in e-commerce sector’
Bahrain is ready to compete regionally and globally in the field of e-commerce, said Sadiq Abdul Rasool, Chief Digital Officer of Bahrain's leading E-commerce platform Homiez.me.
According to Rasool, this is dependent on several factors, including the availability of a fast, reliable, and widespread internet service, the orientation of more citizens and residents for digital shopping, the availability of banking services and digital financial transfer services, and the presence of national competencies capable of creating and developing more stores and digital platforms.
During his participation at the recently concluded Seamless Middle East 2022 in Dubai, Abdul Rasool pointed out that this development witnessed by Bahrain in the field of e-commerce is part of the development of the GCC states in this field.
"Individual e-commerce experiences in the GCC states are now similar to those in major developed countries in terms of infrastructure, logistical network, advanced FinTech, turnout, and other elements, as the difference in the e-commerce index between the six Gulf countries and the first six countries globally, decreases to less than 17% in 2021, from more than 35% before 2019,” he said.
Rasool explained that the habits of Bahraini consumers differed as a result of the Corona pandemic and the orientation of digital solutions, those transformations that were imposed on many large markets and brands that quickly turned into digital solutions, the most notable of which was the significant increase in the number of applications for stores and stores, and e-commerce platforms that serve as a mediator between merchants and consumers.
"Many consumers today interact with brands in novel ways. Today's Bahraini consumer is more interested in value than in brands. Every Bahraini household now has access to e-commerce. Bahrainis today value speed, performance, security, and the ease with which they may find consumer goods. It formerly concentrated on intangible values such as appearance and brand personality,” Rasool said.
In his speech during the conference Abdul Rasool addressed more technical topics, such as meeting user needs in the shadow of technology and the basic engines of the market, even in the retail and distribution sectors, emphasizing that the digital experience today is very different, and it has its own identity that affects consumer feelings and desires.
He stated that the "Homiez" platform seeks to support national efforts aimed at revitalizing markets and commercial movement in Bahrain, as well as encouraging more Bahraini business owners and merchants to take advantage of the benefits of this type of shopping, in addition to providing consumers, citizens, and residents with a variety of options in one place.
Abdul Rasool pointed out that the "Homiez" platform, which was launched in Bahrain in 2018, is now providing more than 50,000 products from 400 Bahraini vendors and 1,000 brands, noting that this expansion was based on many factors, including the pre-emptive vision of the future of e-commerce and innovation, in addition to benefiting from the integrated support system that Bahrain provides for entrepreneurial projects that are capable of growth, the growth of the internet, and the development of artificial intelligence. – TradeArabia News Service
