Insights into Souq.com
How does Souq.com operate?
With a large number of free trade zones coming up in the Arabian world, Souq.com is an active pursuant of this special business framework. As such, a global online seller needs to have an incorporation and trading license for selling across MENA that might cost roughly around INR 6Lakhs. Also, opening up an active bank account in that region and maintaining a registered address might seem an uphill task for a new marketplace entrant.
Eunimart, a competent international eCommerce aggregator, is assisting aspirant Indian online sellers and brands to set up their businesses across UAE free trade zones and sell successfully on Souq.com. This highly acclaimed international online marketplace follows FBS (Fulfilled by Souq) working model. Staying in line with the vision of offering the best services in the region, Souq.com’s FBS aims at empowering sellers by saving time for expanding their businesses and augmenting the overall profit levels. This way sellers don’t need to worry about logistics across MENA and customers experience fast and safe delivery at their doorsteps.
More Facts and Figures on Souq.com
Some more significant facts and figures that prove Souq.com is one of the most demanding international online marketplaces can be summarized as follows:
- Country-wise Traffic Inflow: The marketplace witnesses a high traffic inflow from the nooks and corners of the Arab world. UAE, Saudi Arabia, Egypt and Kuwait exhibit the highest number of visitors.
- Customer Demographics: The marketplace is widely preferred by male and female buyers alike from countries like UAE, Saudi Arabia, Egypt, and Kuwait.
- Best-Selling Categories: Not all product categories can soar high on Souq.com. The best-selling categories on this marketplace are Fashion, Electronics, Home & Décor, Sports & Fitness, Baby Care & Toys etc.
- Additional Value Offerings: The marketplace offers two extremely helpful value-added services. Firstly, it helps driving demand on a dedicated page in the form of newsletters to its millions of subscribers. Secondly, it runs new product launch campaigns from time to time to keep its subscribers posted about the recent product updates.
- Closest Competitors: Souq.com receives a neck-to-neck competition from some of its closest competitors in the Middle East. Some of the most notable ones amongst them are Awok.com, Namshi.com, Wadi.com, Noon.com, Jadopado.com and so on.
- Take-over by Amazon: Amazon in its attempts to march across the globe has recently acquired Souq.com for price value of $650 Million. In order to spearhead its business operations in the Middle East, Amazon targeted this leading international online marketplace.