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Souq.com wins 'online retail’ award

Dubai, October 16, 2011

Souq.com, one of the largest e-commerce sites in the Arab world, has picked up the 'Best Online Retail' category award at the Retail City Awards 2011 ceremony held recently in Dubai.

Spending via the internet is on the increase, and Souq.com has been the forerunner in helping to bolster retail sales growth across the UAE and the wider GCC region through lower prices and better delivery options, a statement said.

This has enticed more and more retailers to the Souq.com platform, providing a transactional capability that is contributing towards the significant increases in online sales, it said.

 "Just a few years ago a category for online retailing in this part of the world was nonexistent,” said Ronaldo Mouchawar, CEO of Souq.com. ‘Our success is a reflection of a continuing and fundamental shift in shopping patterns as more and more shoppers buy online to take advantage of better prices and convenience and increasingly trust especially due to our safe and safe payment options, door to door delivery all wrapped up with dedicated customer service.” 

“By selling their products through Souq.com, local, regional and international retailers reach a wider target market, and utilise a trusted platform without the complexity of logistics or payments and therefore increase their sales across GCC. Retailers are recognising the importance of a strong online presence to support their overall growth strategy. Through their partnerships with Souq.com, many retailers have embraced online shopping and now view it as a key to optimise their turnover potential,” Mouchawar said.

Jashanmal Books was one of the first companies to recognise the potential of Souq.com’s online retail offering, the company said in a statement.

“Souq.com is an easy to setup and simple to manage platform which enabled Jashanmal Books to get its online bookstore up and running in a matter of days, “said Narain Jashanmal, general manager of Jashanmal Group.

“The platform itself addresses the key challenges merchants have faced with taking their businesses online in the UAE, namely: payment processing and logistics fulfillment - Souq.com has made these as frictionless as possible for both merchant and customer. This is supported by a responsive and helpful team with whom we look forward to continuing to work with to grow our e-commerce business, “he said.

Established in 2006 to distinguish outstanding retail projects globally, the Retail City Awards programme has since become a recognised platform for honouring retail professionals – from shopping centre owners and retailers to architects and designers who are the very best at what they do.

The Retail City Awards recognise the outstanding achievements that have contributed to the growth and development of the retail industry, bringing together the most innovative and influential leaders of Middle Eastern and international retail, the awards have become the primary benchmark for experts, the statement said.

Judged by the most eminent and internationally acclaimed members of the industry, the independence of the jury validates the transparency of the judging process, endorsing winners to be worthy recipients of the highly coveted awards. – TradeArabia News Service




Tags: UAE | Middle East | Dubai | Souq.com | Online Retail | Retail City Awards |

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