Page 68 - Metro Brazil PR Report - March 2024

and best in class products, addressing the evolving demands of the fashion

retail market.
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 positive impact on the overall economy of

KSA. The growth of the market is attributed to several factors such as rising
consumer spending power and economic diversification under Vision 2030,
aiming to boost productivity 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 opportunities 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 innovation, 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 innovation, 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 ultimate destination 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 expectations of KSA customers by
taking into account the cultural nuances and fashion trends as well as
incorporating local payment methods. While the KSA eCommerce market is

growing positively, the UAE market is projected to reach USD 9.2 billion in
2026, creating 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

https://www.tradingview.com/news/reuters.com,2024-03-12:newsml_Zaw5VBTVv:0-pressr-metro-
brazil-expands-footprints-in-ksa-to-contribute-to-booming-retail-and-ecommerce-market/