Page 56 - Metro Brazil PR Report - March 2024
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Metro Brazil expands footprints in KSA to contribute to booming retail and eCommerce market | UAE News 24/7
                              Notably, the Saudi Arabian eCommerce market is expected to grow at a
                             compound annual growth rate (CAGR) of 15.01 per cent to reach USD
                             27.37 billion by 2029. This upward trajectory in eCommerce revenue is
                             poised to make a significant and posi ve impact on the overall economy
                              of KSA. The growth of the market is a ributed to several factors such as
                              rising consumer spending power and economic diversifica on under
                              Vision 2030, aiming to boost produc vity and become one of the largest
                              economies in the world, especially in line with their plans for Riyadh
                              Expo 2030.


                              By expanding into the region, Metro Brazil aims to tap into the thriving
                              market, leverage opportuni es for growth, and contribute significantly to
                              the flourishing economy, all while adhering to their global expansion
                              goals.


                              Alaa Kara Ali, CEO of Metro Brazil, commented: “Our expansion into the
                              KSA market marks a pivotal milestone in our journey. This strategic step
                              reaffirms our unwavering commitment to innova on, customer-
                             centricity, and global growth. Our mission is to provide unparalleled
                             choices in luxury fashion shapewear, tailored precisely to the discerning
                             tastes of customers across the KSA region. Thorough market research
                             studies were conducted by our team of experts to understand Saudi
                             consumers’ demands, preferences, and purchasing habits. With a
                             steadfast focus on technological innova on, we will deliver a seamless
                              and secure shopping experience that precisely caters to the unique
                              demands of the market. We look forward to establishing the company as
                              the ul mate des na on for premium Brazilian brands through various
                              strategic partnerships and investments, thereby enriching individuals’
                              confidence.”


                              Metro Brazil’s research is centred on customising online shopping
                              experience to successfully meet the expecta ons of KSA customers by
                              taking into account the cultural nuances and fashion trends as well as
                              incorpora ng local payment methods. While the KSA eCommerce market
                              is growing posi vely, the UAE market is projected to reach USD 9.2
                             billion in 2026, crea ng an opportunity for Metro Brazil’s success in both
                              these markets.


                              Furthermore, to capture a considerable size of the KSA shapewear and
                              stocking market which is projected to reach a market size of more than
                             USD 7 million by 2028, the company will officially open physical
                              showrooms in Riyadh and Jeddah, as part of their new expansion
                              strategy, bridging the gap between tradi onal retail experiences and the
                              digital marketplace.


                              Addi onally, the company’s plans include collabora ons with local
                              finance and investment organisa ons, such as Growth Venture Capital,
                              Investment Pools, and Angel Investors, as well as access to emerging
                              markets and incen ves for technological advancements. Metro Brazil’s
                              strategic plans will set new industry benchmarks, placing a strong
                              emphasis on unparalleled customer experience, improved security, and
                              dynamic user engagement.



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