Market Overview: Middle East & Africa Recommerce Market
MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on Middle East & Africa Recommerce Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Middle East & Africa Recommerce Market Insights 2024-30
The Middle East & Africa Recommerce Market is estimated to grow at a CAGR of around 10.50% during the forecast period 2024-30.
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Driving Innovation: Exploring the Middle East & Africa Recommerce Market and its Key Drivers
The Middle East & Africa Recommerce Market Driver – The popularity of Digital Media & E-commerce and Increasing R&D
Rising popularity and usage of digital media & e-commerce is one of the primary factors driving the growth of the Middle East & Africa Recommerce Market. Further, the notable increase in research & development activities for refurbished products within the region is supporting the market’s progress. Refurbished products, particularly pre-owned electronics and goods, are witnessing a strong demand owing to the growth of consumers’ interest in digital media and online shopping. This ongoing trend is prompting companies like reBuy to expand their presence in the MEA region to capitalize on the surge in demand for refurbished electronics and tech gadgets.
Additionally, e-commerce giants like Souq.com (now part of Amazon) have ventured into the recommerce space, offering consumers in the MEA region easy access to a wide range of refurbished products. Furthermore, the MEA recommerce market is benefiting from a notable uptick in R&D efforts aimed at improving the quality and reliability of refurbished goods. Major recommerce companies are investing in R&D activities to ensure that pre-owned electronics meet the highest industry standards. These business development activities are fostering trust among consumers, stimulating market growth, and positioning the MEA Recommerce Market for further expansion.
Top Players in the Middle East & Africa Recommerce Market:
ReFlaunt, Revibe, AWOK, Noon, Jollychic, The Luxury Closet, RETOLD, Poshmark, Jumia, Bazaara Technologies LTD, and others
Middle East & Africa Recommerce Industry Recent Development:
- 2023: Revibe has secured growth funding of 2.3 million dollars for the UAE market. The company is dedicated to and engaged in the refurbished electronics industry, with product offerings including cell phones and computers.
- 2023: Reflaunt and Chalhoub Group have entered into a partnership for the resale of luxury goods. Chalhoub Group will allow customers to explore the diverse product portfolio of refurbished luxury goods through Reflaut’s website.
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Segmentation Analysis of Middle East & Africa Recommerce Market
Middle East & Africa Recommerce Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Type
-Peer-to-Peer Marketplaces
-Resale Marketplaces
-Refurbished Goods Marketplaces
By Product
-Electronics
–Smartphones & Tablets
–Laptops & Computers
–Cameras and Photography Equipment
–Home Appliances (Refurbished Refrigerators, Washing Machines, etc.)
–Others (Networking Equipment, Gaming Consoles and Accessories, etc.)
-Fashion & Apparel
–Clothing
–Footwear
–Accessories (Jewelry, Watches, Handbags, etc.)
-Furniture and Home Goods
–Sofas and Couches
–Tables & Chairs
–Home Decor (Rugs, Paintings, Vases, etc.)
–Others (Garden Equipment, Bathroom Accessories, etc.)
-Automotive
–Used Vehicles
–Vehicle Parts and Accessories
-Sports and Fitness Equipment
-Others (Toys, Collectibles, Books, etc.)
By Product Category
-Non-Luxury
-Luxury
- The non-luxury product category is emerging as the leading segment in the Middle East & Africa Recommerce Market
By Age Group
-Up to 18 Years
-19-25 Years
-26-40 Years
-41-55 Years
-56 Years and Above
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A Comprehensive Geographical Analysis:
By Country
-The UAE
-Saudi Arabia
-South Africa
-Egypt
-Qatar
-Kuwait
-Bahrain
-Rest of the Middle East & Africa
- Among them, the UAE has emerged as the leading recommerce market within the Middle East & Africa region
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
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