Fuelled by a $5.2m funding round, store management platform, DukkanTek, has expanded from UAE into Oman, Qatar, Kuwait, Bahrain, Turkey and Saudi Arabia. This takes their presence to seven countries as they explore opportunities in North Africa.
The company believes that traditional merchants and small and medium enterprises (SMEs) remain the backbone of the global economy, and their transactions should be digitized to keep pace with market developments. Dukkantek has already attracted more than 5,000+ customers for its suite of services empowering traditional merchants, local community retail stores, supermarkets, small grocers, service shops and dark stores with end-to-end digital technology that improves business processes.
Sanad Yaghi, Dukkantek co-founder, commented: “For too long SMB store owners have been left on the margins of the tech shift. We are serving the unmet need observed in these businesses with the adoption and usage of comprehensive online shopping technologies. It’s a severely underserved market and we are trying to get to as many people as possible. Our growth is testament to our efforts in empowering traditional merchants to thrive in a digital world with premium end-to-end technology.”
The coronavirus pandemic hastened digital adoption in the MENA region, leading to an increase in online shopping, in particular. The region’s e-commerce market is expected to reach $49 billion in 2025, up almost 55 per cent from 2021, according to reports by EZDubai and Euromonitor International.
The UAE’s e-commerce market alone is forecast to grow 60 per cent to more than $8bn by 2025 from 2021. Community retailers in the UAE without a digital presence, who were unable to accept online payments during the pandemic, were severely affected due to the drop in customer footfall.