Souq.com hopes to make online shopping faster as the internet retailer is adopting a new platform and delivery system similar to that used by the US online giant Amazon.
Souq.com, which has its headquarters in the UAE but sells hundreds of thousands of items to nearby countries including Saudi Arabia, Kuwait and Jordan, says it is launching an online platform next month while fast-tracking delivery up from an average of three to five days.
"We're working [hard] to cut that … to make it two days," said Ronaldo Mouchawar, the chief executive.
When the retailer started up in this region it initially focused on promoting an eBay-like business model in which goods could be auctioned to the highest bidder. But as shopping habits changed, Souq.com started setting fixed prices last year and let businesses ship goods once shoppers made their purchases.
More recently, it has been investing undisclosed sums in warehousing goods in the UAE, Saudi Arabia and Kuwait, as well as new technology and employees to manage the logistics side of its business.
These warehouses are now key to the company's strategy for slashing shipping time, which mirrors an approach taken by Amazon.
A warehouse is planned to open during this quarter in Egypt. "We're working on Cairo," Mr Mouchawar said.
"The Dubai one is operational, fully, shipping hundreds of thousands of products a month. Same with Riyadh."
Shoppers in the Emirates spent an estimated US$2.8 billion (Dh10.28bn) on products and services that were purchased online last year, according to data from Visa Middle East in partnership with IMRG, an independent researcher.
Visa forecasts a 40 per cent rise in e-commerce spending this year, although Mr Mouchawar says sales at Souq.com have approximately tripled so far this quarter compared with the same period a year ago.
More online retailers are trying to expand their presence in the UAE, and sometimes the wider Middle East region.
These retailers include Nahel.com, JadoPado.com, ALshop.com and EmiratesAvenue.com.
To stand out from each other, these companies promote all sorts of offers, from bundled specials to "daily deals" with an emphasis on cash-on-delivery, for those consumers who are still hesitant about sharing their credit card details online.
Fast delivery has become another way to stand out from the pack.
But Mr Mouchawar noted that speedy shipping was not enough, which is why the company was also rolling out more product descriptions in Arabic, as well as more detailed specifications about devices such as BlackBerrys in case buyers forget to note all the particulars such as screen size, weight and keyboard type.
"We've invested over the last year in terms of improving what we call the content presentation," Mr Mouchawar said. "With this content investment [the shopping experience] will improve."
nparmar@thenational.ae
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
THREE
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Company%20profile
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More from Neighbourhood Watch:
More from Neighbourhood Watch:
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
'The Last Days of Ptolemy Grey'
Rating: 3/5
Directors: Ramin Bahrani, Debbie Allen, Hanelle Culpepper, Guillermo Navarro
Writers: Walter Mosley
Stars: Samuel L Jackson, Dominique Fishback, Walton Goggins
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
RESULT
Bayern Munich 0 AC Milan 4
Milan: Kessie (14'), Cutrone (25', 43'), Calhanoglu (85')
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Killing of Qassem Suleimani
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
Killing of Qassem Suleimani
The bio
Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district
Was a middle distance state athletics champion in school
Enjoys driving to Fujairah and Ras Al Khaimah with family
His dream is to continue working as a social worker and help people
Has seven diaries in which he has jotted down notes about his work and money he earned
Keeps the diaries in his car to remember his journey in the Emirates
UAE currency: the story behind the money in your pockets
'Saand Ki Aankh'
Produced by: Reliance Entertainment with Chalk and Cheese Films
Director: Tushar Hiranandani
Cast: Taapsee Pannu, Bhumi Pednekar, Prakash Jha, Vineet Singh
Rating: 3.5/5 stars
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
