Page 47 - Metro Brazil PR Report - March 2024

Metro Brazil expands business in Saudi Arabia to boost e-commerce market - Mubasher Info

Metro Brazil expands business in Saudi Arabia to boost e-

commerce market

Alaa Kara Ali, CEO of Metro Brazil.

12 March 2024 02:54 PM
Riyadh – Mubasher: Retail and e-commerce firm Metro Brazil expanded its opera ons
into Saudi Arabia in line with its commitment to enhance the growing retail sector.

The Saudi retail market is expected to reach $54.46 billion by 2028, according to a press

release.

Metro Brazil intends to leverage this growth with its eCommerce pla orm and best
products amid the increasing demands of the fashion retail market.

Furthermore, the Saudi e-commerce market is projected to rise at a compound annual
growth rate (CAGR) of 15.01% to reach $27.37 billion by 2029.

This upward trajectory in e-commerce revenue is poised to make a significant and
posi ve impact on the overall economy of KSA.

The growth of the market is due to several factors, such as rising consumer spending
power and economic diversifica on under Vision 2030.

The Saudi vision aims to boost produc vity and become one of the largest economies in
the world, especially in line with their plans for the Riyadh Expo 2030.

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