MarkaVIP Gains 200,000 Users In 2 months
The recent turmoil has caused some problems for some businesses in the Middle East, but for some online ventures, business is booming.
One such success story is MarkaVIP, one of the regions few flash sales websites. Since launching back in November 2010, the site has been posting steady growth numbers, and today is boasting 700,000 active users overall. Of that total figure, a whopping 200,000 users were added in the last 2 months.
Part of MarkaVIP’s appeal is exclusivity and this has helped to push popularity upwards. Only members are able to access the 40-70% discounts routinely offered. Users are apparently so happy with their MarkaVIP experience that 45% of them are repeat customers. These numbers have helped to push the buyer conversion rate through the roof at 3%–and bear in mind that online retailers barely crack the 2% mark.
According to founder and CEO Ahmed Al Khatib, the site gets most of its business from Saudi Arabia (currently 40%). The Gulf States account for another 35% of sales, with Lebanon and Jordan rounding out things with 25%. These massive sales numbers have helped MarkaVIP double its sales in the last 3 months and the forecast is for even more growth.
The region overall is not as mature where ecommerce is concerned so it’s not difficult to imagine websites like MarkaVIP biting a big chunk out if the online retail market. The next few years will definitely be interesting.
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