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    Souq

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    shadow hesham
    Souq was launched in 2005 as an e-commerce site in the Middle East and North Africa. It faced challenges like different payment methods and shipping across countries. Souq addressed this through multiple payment options and partnerships. In 2017, Amazon purchased Souq for $650 million, bringing its products, services, and expanded reach to the region. This benefited customers through increased selection and improved services. While competitors like Noon emerged, Amazon/Souq maintained its lead through marketing, product selection, and integrated delivery services across Middle Eastern countries.

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    © All Rights Reserved
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    Souq

    Uploaded by

    shadow hesham
    81 views16 pages
    Souq was launched in 2005 as an e-commerce site in the Middle East and North Africa. It faced challenges like different payment methods and shipping across countries. Souq addressed this through multiple payment options and partnerships. In 2017, Amazon purchased Souq for $650 million, bringing its products, services, and expanded reach to the region. This benefited customers through increased selection and improved services. While competitors like Noon emerged, Amazon/Souq maintained its lead through marketing, product selection, and integrated delivery services across Middle Eastern countries.

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    Souq was launched in 2005 as an e-commerce site in the Middle East and North Africa. It faced challenges like different payment methods and shipping across countries. Souq addressed this through multiple payment options and partnerships. In 2017, Amazon purchased Souq for $650 million, bringing its products, services, and expanded reach to the region. This benefited customers through increased selection and improved services. While competitors like Noon emerged, Amazon/Souq maintained its lead through marketing, product selection, and integrated delivery services across Middle Eastern countries.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    81 views16 pages

    Souq

    Uploaded by

    shadow hesham
    Souq was launched in 2005 as an e-commerce site in the Middle East and North Africa. It faced challenges like different payment methods and shipping across countries. Souq addressed this through multiple payment options and partnerships. In 2017, Amazon purchased Souq for $650 million, bringing its products, services, and expanded reach to the region. This benefited customers through increased selection and improved services. While competitors like Noon emerged, Amazon/Souq maintained its lead through marketing, product selection, and integrated delivery services across Middle Eastern countries.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 16

    Souq SHOP

    The Amazon of the Middle East


    Gets Acquired by Amazon

    Mostafa Hesham
    Karim Elgeddawy
    Omar Saiid
    Table Of Contents
    0 START OF SOUQ
    1
    0
    2 CHALLENGES
    0 Development &
    3 Marketing
    The acquisition of
    0
    4 Souq
    0 The benefits from
    PAY 5 Acquisition
    06 Competitors
    Start of souq.com
    ➔ Souq.com was launched in 2005 as an e-commerce in Middle
    East and North Africa (MENA).

    ➔ Maktoob was the parent company of Souq.

    ➔ Dubai-based Souq.
    Maktoob
    Maktoob, a 1998 Internet pioneer that provided the first free Arabic-supported:

    Email service

    Chat & greeting cards

    Content channels

    ★ Maktoob was purchased by Yahoo in 2009.

    ★ Souq struggled to thrive,because it was left to fend for itself with no local roadmap to follow
    Souq
    A souq, or souk, is a traditional Arab marketplace at which a wide
    range of products are exchanged through a bargaining process
    between buyer and seller.
    Challenges 1
    Fearing of customers
    to use online
    payment and
    preferring (COD)

    A number of problems
    plagued the early
    development of e-
    commerce in the
    MENA region 3
    2
    Necessity for bank
    Different currencies, laws,
    accounts in each
    and regulations
    country and
    complicated shipping for
    requiring local
    transactions made across
    business partners
    different Gulf states.
    How souq.com Faced challenges
    Souq offered multiple payment options to its customers

    01 Credit or debit cards.

    Sadad (an Electronic Bill Presentment and


    02 Payment [EBPP] payment system linked with
    bank accounts)

    Payfort (Souq payment service), It helped


    03 standardize payments across many MENA
    countries.)

    04 Cash On Delivery
    Marketing plan Of Souq
    E-commerce in the
    MENA region was
    still dominated by
    men, and Souq has
    made attracting
    female customers
    a priority. Sukar benefitted from the use of
    Souq’s logistics and delivery systems.
    Souq gained customer service and
    fashion expertise and reinforced its
    position as the leading e-commerce
    Souq purchased site in the region
    Sukar.com, a high-fashion
    flash sales site.
    ● After switching to a fixed-price model.

    ● Souq added fulfillment centers and warehouses,


    hired delivery and warehouse personnel trained
    in modernized logistics systems,

    Development Of ● Updated its data storage systems to bolster

    Souq security.

    ● It purchased delivery logistics company Wing.ae.


    Souq outperformed its peers.

    ● It also established its own delivery network by


    launching Q-Express as its logistics arm, thus
    avoiding the delays caused by third-party courier
    services
    Development Of Souq
    Souq outperformed its peers.

    Souq has embraced mobile


    technology and social media to April 2018 to March 2019, mobile
    increase its worldwide visibility customers represented more
    and bolster its branding and than half of all traffic on
    marketing efforts. Souq.com and made 70% of
    purchases across all of Souq’s
    markets of operation.
    01 03
    It launched a mobile app in
    2012, enabling customers to
    view detailed product
    information along with
    product ratings and reviews. 02
    The Acquisition Of Souq
    ● In 2016, Souq raised more than $275 million,the
    largest amount ever raised in the Middle East,
    giving it a valuation of over $1 billion and making it
    the first company from the MENA region to achieve
    the “unicorn” designation for companies worth $1
    billion or more.
    SERVIC
    ● In 2017, after a bidding war between Amazon and
    ES
    Saudi-based Emaar Malls PJSC and its billionaire
    owner, Mohamed Alabbar,

    ● Amazon purchased Souq for a price variously


    reported as either $650 million or $580 million..
    The availability of over 1 million of amazon products to Souq
    customers.

    Souq expanded Amazon Global Store to the Kingdom of


    Saudi Arabia and Egypt in 2018.

    The Benefits from In 2019, rebranding of Souq UAE to Amazon.ae.


    Acquisition
    June 2020 ,rebranding Souq Saudi Arabia to
    Amazon.sa.
    Souq Egypt has retained the Souq.com URL.

    Souq’s payment platform Payfort has also


    been rebranded to Amazon Payment
    Services.
    Amazon Global Store sells over 30 million products, including
    products sold by Amazon in the United States.

    Offering the option of shopping in Arabic on both the


    website and Amazon app.

    The Benefits from Amazon has continued Souq’s marketing efforts on

    Acquisition
    various social networks. March 2021, Souq Egypt’s
    Facebook page has over 9 million followers.

    Amazon SA has over 4 million followers.

    Amazon.ae about 2.4 million followers.

    On Twitter accounts the company focused on


    different regions with different “handles” such as
    @AmazonKSA (Saudi Arabia), @AmazonAE (the UAE),
    and @SouqEgypt, with flash deals and other useful
    information.
    Competitors
    Amazon/Souq’s major online
    competitors

    Online marketplace with the


    broadest range of products
    available, for the people of Saudi
    Arabia (KSA)

    Was acquired by NOON

    Noon has everything you need under


    one roof.

    Top online shopping fashion


    site in Saudi Arabia
    Competitors
    NOON

    The company went live in the UAE and Saudi Arabia in


    2017,and in Egypt in 2019.

    It integrates with the Alabbar-owned Aramex delivery


    service.

    Noon also has One Click Delivery Services.

    Noon has extensively used daily flash sales during


    the holiday season to build market share.

    It partnered with eBay to offer its customers a way to


    more easily purchase products from the United States
    and elsewhere.
    Thank you

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