In This Article:
The Saudi Arabian eCommerce market is experiencing robust growth driven by factors such as increasing internet and smartphone penetration, government initiatives under Vision 2030, and the adoption of digital payment methods. With a young, tech-savvy population and improvements in logistics infrastructure, the market's value is projected to rise significantly from $24.67 billion in 2024 to $68.94 billion by 2033, reflecting a compound annual growth rate of 12.1%. Challenges remain, particularly in logistics and consumer trust in online payments. Still, the overall eCommerce ecosystem in Saudi Arabia is advancing, with platforms like Amazon, Noon, and Alibaba expanding their digital presence to cater to growing consumer demand.
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Amazon.com last closed at $180.60 up 4.3%.
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Alibaba Group Holding last closed at $118.97 up 2.7%.
In other trading, Beijing Shiji Information Technology was a standout up 10% and ending the day at CN¥8.94. In the meantime, Microalliance Group trailed, down 20% to end trading at $1.00.
Best E-Commerce Stocks
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Adobe closed at $351.96 up 0.6%. Three days ago, Adobe announced AI innovations across its Creative Cloud and a new partnership with the NFL for personalized fan experiences.
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NIKE ended the day at $57.39 up 0.6%. The company announced a new chief strategy officer on April 23, which was yesterday.
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Walmart closed at $94.96 up 0.1%. This week, Walmart announced the launch of Because brand's bladder protection products in select stores nationwide.
Key Takeaways
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Click through to start exploring the rest of the 230 E-Commerce Stocks including APR, JD.com and Capitalonline Data Service now.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.