Zbooni — MENA’s leading cCommerce (connected commerce) platform — has launched the region’s first white paper on the growing sector.
The report was compiled with insights from leading brands such as Chalhoub Group, Checkout.com and TikTok. Research suggests that cCommerce could eventually serve up to 40% of MENA’s $1 trillion retail market.
cCommerce takes place via social, chat, and messaging apps like WhatsApp, providing physical stores and online brands with a way of turning real-time conversations into converted sales. Businesses can sell more by bringing the check-out experience to the channels that customers prefer and use every day.
Ramy Assaf — CEO and Co-Founder of Zbooni — said: “We are at the cusp of an exciting retail transformation built around personalised selling. cCommerce has the potential to serve businesses across a wide variety of industries, whether they are brick-and-mortar, online-only, or omnichannel. Wherever there is an interaction before a transaction, cCommerce can help.
MENA missed the initial wave of eCommerce and has been playing catch-up, but the region is geared-up to take full advantage of cCommerce. Most people in MENA use social and chat apps frequently every day, and cCommerce is a natural evolution towards shopping in the same way we chat with friends.
For businesses, it opens a whole new avenue for engaging customers and maximising sales. In this way, cCommerce could quickly surpass eCommerce as the region’s preferred way of retailing.
The report focuses on the opportunity for cCommerce to connect businesses with customers both online and offline. Zbooni collated proprietary data which suggests cCommerce has a sales conversion rate of more than 80%, which is significantly higher than ecommerce marketplaces which tend to convert under 3% of prospective sales.
cCommerce connects a merchant directly with the customer, and through human-to-human conversation, an enhanced sales experience can be delivered, and customer expectations met.
This in turn helps to reduce sales friction, increase conversion and customer lifetime value, whilst reducing potential returns and refunds.