Retail City Award for region's foremost online retailing company reinforces changing trends

October 15th 2011, Dubai (UAE):  Souq.com has picked up the best Online Retail category at the Retail City Awards 2011 ceremony held at Dubai International Convention and Exhibition Centre. The award is a further endorsement of Souq.com's position as the region's leading Online Shopping Mall and of its pioneering role in the development of the online retail sector.

Spending via the internet is on the increase, and Souq.com has been the forerunner in helping to bolster retail sales growth across the UAE and the wider GCC region through lower prices and better delivery options. This has enticed more and more retailers to the Souq.com platform, providing a transactional capability that is contributing towards the significant increases in online sales.

 "Just a few years ago a category for online retailing in this part of the world was nonexistent," says Ronaldo Mouchawar, CEO of Souq.com. 'Our success is a reflection of a continuing and fundamental shift in shopping patterns as more and more shoppers buy online to take advantage of better prices and convenience and increasingly trust especially due to our safe and safe payment options, door to door delivery all wrapped up with dedicated customer service."  

"By selling their products through Souq.com, local, regional and international retailers reach a wider target market, and utilize a trusted platform without the complexity of logistics or payments and therefore increase their sales across GCC. Retailers are recognising the importance of a strong online presence to support their overall growth strategy. Through their partnerships with Souq.com, many retailers have embraced online shopping and now view it as a key to optimise their turnover potential," adds Mouchawar.

Jashanmal Books was one of the first companies to recognise the potential of Souq.com's online retail offering.

"Souq.com is an easy to setup and simple to manage platform which enabled Jashanmal Books to get our online bookstore up and running in a matter of days, " says Narain Jashanmal, General Manager of Jashanmal Group. "The platform itself addresses the key challenges merchants have faced with taking their businesses online in the UAE, namely: payment processing and logistics fulfillment - Souq.com has made these as frictionless as possible for both merchant and customer. This is supported by a responsive and helpful team with whom we look forward to continuing to work with to grow our e-commerce businesses".

Established in 2006 to distinguish outstanding retail projects globally, the Retail City Awards programme has since become a recognised platform for honouring retail professionals - from shopping centre owners and retailers to architects and designers who are the very best at what they do. The Retail City Awards recognise the outstanding achievements that have contributed to the growth and development of the retail industry, bringing together the most innovative and influential leaders of Middle Eastern and international retail, the awards have become the primary benchmark for experts.

Judged by the most eminent and internationally acclaimed members of the industry, the independence of the jury validates the transparency of the judging process, endorsing winners to be worthy recipients of the highly coveted Awards.

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About Souq.com
Souq.com is the largest online shopping mall in the Arab world, providing buyers and sellers with a convenient, competitive and safe shopping experience, across the widest selection of brands and products in the region.

From humble beginnings in 2005, Souq.com now attracts over 2 million unique visitors per month - a figure which is growing in double digits monthly - from countries across the Middle East and North Africa. Headquartered in Dubai, Souq.com has offices in Kuwait, Jordan, Kingdom of Saudi Arabia and Egypt

Customers benefit from easy access to great deals every day on Souq.com, which offers a range of payment options to suit customers' preferences, with door to door delivery on purchased items. Souq.com is responsible for and manages the entire purchase process, tracking the shipped merchandise and verifying its delivery and only when the customer approves the item is the seller paid, making Souq.com the Arab world's most trusted online shopping destination.

For businesses, Souq.com is the regions e-commerce partner of choice, with branded online retail stores and easy payment methods for buyers.Souq.com supports businesses' needs, including marketing; cash flow and product distribution; consultancy and advice on e-commerce; and mentorship for entrepreneurs. 

For more information please contact:
Priyam Bhargava                                                 
Account Executive, MSC/ Action                                                     
+971 50 542 8715, priyam.b@actionprgroup.com                                                       

David Baker
General Manager, MSC/ Action
+971 50 650 3459, david.b@actionprgroup.com

Nada Abdulhadi
Marketing Manager, Souq.com
+971 50 5021816, nada@souq.com

© Press Release 2011