Page 57 - Metro Brazil PR Report - March 2024

Metro Brazil expands footprints in KSA to contribute to booming retail and eCommerce market | MENAFN.COM
art eCommerce pla orm, 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 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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