Eros Group enters e-commerce arena

Dubai - The online spending potential in the UAE is quickly emerging as one of the highest in the world.

E-commerce is rapidly expanding in the Middle East due to the increased confidence in online sales and Eros Group will capitalize on this latest trend to sustain positive trends in coming years, its top officials say.
Addressing a Press conference to launch the group's online shopping website [www.erosdigitalhome.ae], Eros top executives said e-commerce is expected to grow by 40 per cent in GCC by 2020 and sales are expected to hit $41.5 billion in the Gulf region. Referring to latest data, they said the UAE will be leading growth in online sales with 53 per cent of the market share.
"We expect e-commerce will be strengthened in the region over the next decade as Middle East and North Africa will be linked through 545 million connected devices and 390 million internet users," said Deepak Babani, chief executive of Eros Group. Eros Group is the sole distributor of world-renowned brands including Samsung, Hitachi, TCL and Linksys. Its latest initiative offers a range of products including home entertainment, mobiles, tablets, appliances, computers and accessories. It also features a deals section where customers can find the latest promotions, new arrivals and discounted items. "As one of UAE's leading electronics distributors, we have built a strong and enduring relationship with our customers. It goes without saying that peace of mind is of the utmost importance when shopping online," Babani said.
Eros Group, which was recently named Superbrands "Brand of the Year" for 2015, provides free product insurance, free shipping, easy returns, cash on delivery and installments on all purchases made through the website. As an introductory offer, customers will receive Dh50 off their first purchase of over Dh200.
Niranjan Gidwani, deputy CEO, Eros Group said: "With the increasing growth in internet penetration and more and more users going online to shop, we feel that now is the perfect time for us to take the digital leap. The online opportunity for Eros Group has huge potential and we are excited with the opportunity and have some exciting online retailing offers."
Worldwide e-commerce sales are expected to reach $1.7 trillion by end of 2015. In the UAE, the largest e-commerce market in the Middle East, e-commerce is worth about $2.5 billion a year, and is expected to grow to $10 billion by 2018, according to research firm Frost & Sullivan.
With a dynamic young population and one of the highest global per capita internet-penetration levels, the online spending potential in the UAE is quickly emerging as one of the highest in the world.
"The launch of our eCommerce venture is a key component of our growth strategy and a natural progression towards delivering growth and trusted service to our burgeoning consumer base across the UAE," Babani said, adding that the UAE has highest per capita online retail spending in the region that is at par with United States and European Union.
Rahul Misra, assistant vice-president of Eros Group, was also present on the occasion.
Eros Group is today standing tall as an organisation with more than Dh4.5 billion in revenues, 33 retail stores across UAE, 15 world-class brands in its portfolio, and industry recognized awards. Eros Group is one of the leading players in consumer electronics, telecom, and allied multi-products in the Middle East.
- muzaffarrizvi@khaleejtimes.com