The global B2B e-commerce market has witnessed significant growth in the past few years. Especially after the COVID-19 pandemic, there has been a profound shift in how businesses approach digital transformation. As a result, it has opened up endless opportunities for businesses to grow and expand their global commerce and customer base.
Saudi Arabia is also part of this trend. According to Mordor Intelligence, the Saudi e-commerce market is expected to grow at a CAGR of above 12.56 percent during the forecast period, 2022-2027. During the pandemic, B2C e-commerce has witnessed significant growth in Saudi Arabia.
This paves the way for B2B e-commerce to flourish as an extension of this massive market. The local market is experiencing noticeable growth due to the huge digital transformation the country is undergoing. The Saudi government is continuously supporting the market by coming up with various initiatives to boost the growth of online businesses in the country, which is driving many e-commerce companies to expand their business in the Saudi market.
A new Saudi startup company, Indeal, will soon launch with the goal of digitizing B2B trade. As the Saudi B2B market grows, several businesses have encountered challenges along the way. According to Indeal, the company’s strategy was based on a study across major industrial cities in the country, including more than 100 manufacturers to identify their business challenges. The study shows that the challenges of sourcing local suppliers is a common issue across the entire industrial market, which can be summed up in three market pain points:
1. Outdated business operations
2. Costly and inefficient shipping
3. Isolated consumer base due to marketing challenges
Indeal believes the local market demands a true one-stop shop that serves as a mediator to address these challenges by bridging the B2B market, providing high-quality services to simplify business operations and transactions, and offer new tools to businesses to expand and grow faster.
As a response to these needs, Indeal is building a marketplace from the ground up to allow businesses to purchase, sell and instantly connect with each other on one platform. Their added value approach is to leverage their cutting-edge technology and directly integrate government, logistic and financial services to stimulate the growth of the B2B sector in a connected digital ecosystem.
“Today’s market does not have a technical issue, it has a connectivity problem,” Mohannad Assidmi, Indeal CEO said.
“Local businesses are facing challenges in connecting and trading with each other, and when they do connect, logistic and financial obstacles could halt their deals all together. Local businesses are missing out on vital revenue and growth opportunities hindering them from reaching their true potential. That’s why we exist. We are dedicated to developing a state-of-the-art marketplace and establishing strategic partnerships to achieve one simple goal; whether large corporations or a small personal business, every business can be served and truly connected.”
