Noon Online Shopping Services, owned by Emirati businessman Mohamed Alabbar, aims to add large size home appliances on its electronic platform.
General Manager of Noon Egypt Mostafa Hendawy said the company started work in the UAE in September 2017, then entered the Saudi market in December that same year, noting that the company’s investment volume has reached $1bn.
This came during the company’s round table held on Sunday to announce its partnership with Visa Electronic Payment Solutions.
Hendawy explained that his company started activities in Egypt in February 2019, pointing out that Noon acquires the largest market share of e-commerce sales in both Saudi Arabia and the UAE.
He stressed that Noon is betting on providing value-added services in Egypt represented in the ease of using its platform and fast shipping, indicating that the company currently has 13 freight centres nationwide covering 75% of the total current shipments and aiming to increase that to 85%.
The company also has two stores in the Abu Rawash area.
He said that the company does not deal with exhibitors who do not have tax records and a tax card, noting that the Noon platform currently includes 700,000 products for 500 brands.
He pointed out that Noon includes the departments of electronics, home appliances, kitchen, fashion, and grocery, noting that fashion and electronics are among the most requested products by Egyptians.
He said digital payment on the platform accounts for 20-25% of all transactions, indicating that e-commerce in Egypt represents less than 2% of retail sales.