My Startup World speaks to Saad Khan, the Founder and CEO at Whoopey.com, about the retail and etail market in the Middle East
Tell us about Whoopey.com?
Whoopey.com is an electronics focused, e-commerce platform with 5000+ SKU and 100 + brands.
Which product categories and business development opportunities represent the greatest opportunity for growth for your company in the Middle East?
The ever expanding, and advancing category of electronics is the core of our business at Whoopey.com. From phones and laptops to home appliances and accessories, we got it all. We believe the road ahead lies in the mass market and finding niche and newer product lines that cater to the everyday man.
What makes your retail operation stand out in the market? Why should vendors and distributors work with you?
We offer vendors, brands and distributors a 360-degree approach which includes focused Digital Marketing, an eCommerce Platform and Distribution channel, all under one roof.
How challenging is the margin situation for your retail business? What support do you expect/want from vendors and distributors?
The margins in the electronics category are extremely challenging, however, with the selection of niche products and a strong Marketing Strategy for brands, we can introduce newer product lines and categories. All you need is a vendor or a distributor who is hungry to make their presence felt in this region – we have what it takes to deliver that.
What are you seeing in terms of the development of e-retail (online purchasing) and online marketplaces in your market? How are you planning/adapting to this?
The significant shift from retail to online has been further emphasized by the recent entry of Amazon into middle east market. As an ecommerce platform, we see a huge potential and opportunity for retailers in the online space. Consumers definitely require a hybrid model of retails and ecommerce, we foresee an increase in purchases in the online segment.
What have been the major developments for your company in the Middle East in the last year? What do you have planned for full year 2017?
Over the past year we have grown to over 5000 SKUs on Whoopey.com with a wide range of products in the electronics segment. We expanded our operations to cater to the Saudi Arabian and Qatar markets as well and by the end of 2017 we will be servicing the entire ME region.
How quickly is your business growing in the Middle East region? What market trends have you identified that are impacting your business segment?
On Whoopey.com, we have seen substantial growth of the past 6 months of operation, reaching over 5000 SKUs and expanding to the Saudi Arabian and Qatar region. With the recent takeover of Souq by Amazon and the upcoming launch of Noon, we foresee significant potential for the etail space over the next 3 to 5 years.
What are the biggest issues and challenges facing the Middle East retail channel at present?
The biggest threat and challenge to the retail channel currently is the emergence of etail players such as Jadopado, Awok, Letstango and of course Whoopey, and the entry of global players like Amazon and the incubation of Noon.com.
