Souq.com says 'White Friday' sales doubled

Mobile commerce continued to be a huge driver for growth, with over 50 percent of the sales coming from the app.
Souq.com says 'White Friday' sales doubled
By Parag Deulgaonkar
Tue 29 Nov 2016 11:30 AM

Online retailer Souq.com said it doubled the 'White Friday' sales from last year, with 1.2 million products being sold during the four-day shopping sale across the Gulf and Egypt.

The company said it sold four items per second and recorded 10 times more traffic and sales than the daily average on its website and mobile app during its annual 'White Friday' event.

Mobile commerce continued to be a huge driver for growth, with over 50 percent of the sales coming from the app.

The number of new buyers during the sales period (November 23-26) jumped five times with conversion rate being twice the daily average.

Nearly 75 percent of the sales came from fashion and lifestyle categories, while electronics accounted for 25 percent of the sales. Sixty thousand units were sold from its newly launched “superstore” with many FMCG brands selling out within hours, highlighting a trend towards online grocery shopping.

Ronaldo Mouchawar, co-founder & chief executive officer, Souq.com, said: “White Friday 2016 marks another record-breaking milestone for the e-commerce in the region. Our robust technical backend preparation ensured that despite 10 times more traffic and concurrent users on web as well as the app, our users continued to enjoy seamless online shopping experience.”

Mouchawar added: “In line with our promise, we are on track with the speedy delivery of the huge volume of orders. We focus on the value we bring to our consumers and the remarkable number of repeat buyers we have on the platform with a significant order value is a testament to the increasing trust we have built around the e-commerce ecosystem.”

Credit card payments rose to 37 percent, reflecting a shift to online payments, but the company did not given any comparative figure for last year.

In November this year, e-commerce company AWOK.com said that despite online shopping was on the rise in the UAE, majority of the shopper preferred to pay on delivery with either cash or card.

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