The rapid development of the internet caused a noticeable shift to online trading triggering the rise of online trading over the last two decades that has now moved to the financial world allowing this segment of all human interaction that is known for its dynamism, fast pace and ability to instantly connect people around the globe.
Innovation in technology is now empowering a new generation of traders and, in so doing, affecting all conventional trading attitudes, by making their trading decisions and drawing on more dynamic sources of information.
The trend towards the democratisation of trading and ease of access to information through the internet has levelled the playing field that was up to the advent of the Internet, reserved to only the privileged few.
MENA broadcasters not fully ready to embrace the Internet
Arab Advisors and MediaGuru recent report finds that the MENA region is not fully ready for broadcasters taking on the Internet for reasons that most countries are still without an adequate infrastructure nor the required governmental motivation / political will. More importantly the report finds that the viewers are not yet prepared for such online viewing.
The report elaborating adds that 49% of FTA channels currently broadcast online, and that the majority of pay TV channels, offer some of their content online, with few through the Internet only safe in the knowledge that the rising Internet penetration levels changing the dynamics of watching TV can assure relatively good viewership.
The report analysing situations in 20 countries revaled that amongst all the analysed countries, the GCC’s are the readiest countries for convergence, with Lebanon and Jordan following.
E-Commerce in the Middle East and North Africa has been ascertained to have potential for growth within the next five years and further as driven by improving Internet and smart hardware penetration generally.
The UAE as a leading country in the region has the highest Internet, mobile device and payment card penetration, making it the market with the largest B2C E-Commerce sales with total retail sales of goods in the UAE forecast to triple between 2014 and 2019. Souq.com and Sukar.com are UAE’s major E-Commerce merchants in the MENA region. Other important markets include Bahrain that shows one of the fastest growth rates in B2C E-Commerce sales. Qatar, the country with the third highest per capita GDP worldwide, on the other hand, had less than 20% of Internet users making purchases online, despite the fact that the majority of residents already have Internet access.
Morocco and Egypt are most advanced markets in the North Africa part of the MENA region in terms of Internet penetration, which reached more than half of the population in these countries last year. Still, online shopper penetration stood at below 10%, though especially in Morocco, the number of users buying over the Internet has grown significantly. Kaymu.ma is the house of Emerchant in the west of the MENA where it is lately building up and gathering strength.
In Egypt, it is Facebook that is a significant in online shopping and it not only generates traffic for online merchants such as Souq.com and Jumia, but is also regarded by online shoppers as a direct placement of orders.
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