Posts Tagged ‘East’
In such hard economic times , it might be a good idea to start looking beyond saturated markets in US and Europe.
Few years ago , heavy weight champions like Ebay , already moved to China and India , so the situation there is not very encouraging for small entrepreneurs who might be looking for new markets.
Middle East countries , with huge reserves of oil , may be relatively immune from gloom economic mood currently sweeping world in this article we are looking for who is around in one to one online trade in middle east.
Background : internet growth in middle east has been around 500% annually , and while speed and depth of network may not be similar to other developed countries but it is expected that they will catch up quickly.
First example of one to one online trade is Sellit4.com , which is a site relatively new , with many categories , provides self service for users to publish ads about items they selling , it is free and popular . but still need to improve , there is no clear business model as there is no clear source of revenue , when approached for more information , we were told that they have only one employee and currently it is not profitable.
Second example is Elzehor.com , again , more like a classified ads site , relatively new , relying on paid ads for revenues , and has free ads section.
3rd example is Souq.com , ebay like style where customers bid for items , relatively popular.
In short , Middle East presents a business opportunity for big players to move in , however poor internet services and lack of reliable online payment service may be an obstacles
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