Increasing Internet Users in the Arab World Provide New Avenues for E-Commerce Growth
Dubai Internet City Announces Expansion Plans of Region’s LeadingOnline Wedding Directory Yebab.com
E-commerce will witness an upward growth trend intheUAE, Saudi Arabia and Egypt with Internet retail sites touching US$1 billion sales in 2011 for the first time, according to industry analysts Euromonitor International.This evolution is due to the increasing internet user-base in these countries and more Arab shoppers moving to an online purchasing model, said senior executivesfrom Dubai Internet City and Yebab.com, the region ’s leadingand the only online wedding directory in Arabic.
The comments came during a press conference hosted by Dubai Internet City and Yebab.com to announce the expansion plans of the wedding portal in the UAE and the region. Officials from Dubai Internet City, Yebab.comand Kharabeesh, partner in the Emirati cartoon with Yebab.com, attended the event.
Yebab.com was one of the participants at DemoCamp Dubai, an initiative spearheaded by DIC as part of its continuing support to emerging entrepreneurs. DemoCamp Dubai offers a crucial platform for tech entrepreneurs to demonstrate their innovative concepts to an audience of investors and venture capitalists.
Yebab raised its first round of investment from this event and since then has grown from 30 online retailers on the website in 2008 to more than 1,400. Revenue has nearly doubled while traffic has increased tenfold in 2011 compared to the previous year.
The site, which provides brides with comprehensive wedding planning services, from gown selection to photography, catering, and venue booking, has cornered a lucrative market by focusing on Emirati weddings.
As part of its expansion plans in 2012, the internet firm aims to extend its services to Saudi Arabia and Egyptin addition to unveiling the first Emirati cartoon ‘YaMae’arees’ that portrays the experience of a young Emirati bride in a modern environment. A joint venture with Kharabeesh, the animation can be currently viewed on YouTube. In addition to these innovations, Yebab.com will also incorporate new design and features to complement its user-friendly interface.
Majed Al Suwaidi, Director at Dubai Internet City and Dubai Outsource Zone, said: “Online and e-commerce business models have changed across the region due to the increasing Internet penetration and the transformation of usage models. At DIC, we are already seeing this evolution due to our regular interaction with entrepreneurs and their innovations thatare based on mobile and internet technologies. Most of these aspiring business personshave been recognised by some investors whilea few others have opened creative venues for tech enthusiasts. A large number of these innovators are from the UAE and the region, which is indicative of the market’s readiness to invest in online business models.”
MurshedMohamed, CEO, Yebab.com, said: “Saudi Arabia and Egypt have a huge population base and we have a considerable amount of traffic coming from these countries. It, therefore, made good business sense to expand into these markets. This year holds high potential for Yebab as we also plan to venture into new business areas such asanimation and addnew componentsto drivee-commerce on the website.
“The plan from the beginning was to follow the ‘Lean Startup’ concept testing different business models and adapting to what works for our business. This was also done keeping in mind the needs and requirements of the consumer. Therefore, the website focused on giving the bride a new experience by reducing the time spent online and bringing in innovative design concepts.The cartoon is a long term business investment as it could be used as a huge product placement and drawsponsorships that exposebrands to Emirati brides and the local community.”
At the forefront of the region's ICT industry, Dubai Internet City remains committed to supporting emerging technology trends in the region and continues to play an instrumental role in developing the industry while contributing to Dubai's drive for creating a knowledge-based economy.
