Page 59 - Metro Brazil PR Report - March 2024

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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