Most consumers in Saudi Arabia use cards to shop online

The e-commerce market is expected to reach $15.7b, GlobalData reported. 

Most shoppers in Saudi Arabia prefer using cards when making online purchases amongst other e-commerce payment tools, GlobalData reported. 

Payment cards accounted for 34.9% of the total e-commerce purchases in 2022, whilst bank transfer accounted for 26.7%. Cash payments, meanwhile, saw a decline. 

In its E-commerce Analytics report, GlobalData projected Saudi Arabia’s e-commerce market to grow by18.4% to $15.7b in 2022. 

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This is expected to expand by 15.3% to $18.1b in 2023 as more consumers shift to online purchases. 

“Saudi Arabia’s e-commerce market is in a growth phase, supported by the rising internet and smartphone penetration, increasing consumer confidence in online shopping, the emergence of e-commerce platforms and availability of alternative payment tools,” Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, said. 

“Furthermore, the COVID-19 pandemic accelerated the shift in consumer preference from brick-and-mortar to online channels. The growth has also been supported by consumers increasingly shopping on foreign websites, as well as international retailers introducing online stores in Saudi Arabia.”