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Amazon & Souq Take Their First Baby Steps Together In MENA- Valutrics

Online shoppers are now able to log on to Souq’s website using Amazon credentials, two months after the American e-commerce giant acquired the firm.

The ability of Amazon users to log on to Souq using the same details is a logical step, Ronaldo Mouchawar, founder and CEO of Souq, told Gulf News.

Many expats have Amazon accounts and so this (logging on to Souq site using Amazon credentials) is a quick and easy step towards integration, he said.

This would make it easier in the future for sellers, according to him.

Mouchawar dismissed any notion that streamlining of login details will bring in a significant change to the company’s technical infrastructure.

Talking about integration, Mouchawar said the two companies will have a series of activities that will come up soon.

The companies are in the planning phase, going step by step, he said.

Two months ago, Amazon agreed to acquire Souq in a deal that will give the US-based e-commerce giant a footprint in the high-growth Middle East market.

While the financial details were not disclosed, a SEC filing made by Amazon in the US said that the purchase cost it $580 million.

Souq claims to command 78% of all e-commerce traffic in the MENA region, and with online purchases accounting for only 1% to 2% of regional retail sales, there is a tremendous opportunity for growth.

The Dubai-based firm offers 8.4 million products on its site, has recently begun selling books and groceries.

Amazon, a global giant, offers an estimated 40 million products.