Noon e-commerce website and application announced the launch of its first Yellow Friday discounts in Egypt during the discount season known as Black Friday, which coincides with the last Friday of November each year.
Yellow Friday offers will start on the Noon platform noon.com on November 24 and lasts for a whole week, until the end of the month.
General Manager of Noon Egypt Mustafa Hendawi said that the company would offer the instalment service during the Yellow Friday discounts.
Hendawi illustrated that their competitive advantage in the Egyptian market lies in their ability to deliver orders within 24 to 48 hours to Cairo, Giza, and Alexandria, on Noon Express products in the company’s stores.
The platform also provides noon.com free shipping service for customers who purchase products worth more than EGP 250. In addition, it provides consumers with different payment methods including cash on delivery or credit card use on the website or app.
Noon.com started launching its business in Egypt last February, less than two years after launching in the UAE and Saudi Arabia at the end of 2017.
It was founded by Emirati Businessman and Founder of Emaar Properties Mohammed Alabbar, in partnership with the Saudi Public Investment Fund, as well as a number of Gulf investors, with an initial investment of $ 1bn to support e-commerce in the Middle East and North Africa.
Noon’s Managing Director North Africa Tarik Fadil, said that the volume of e-commerce in Egypt is a great opportunity for growth, as it does not exceed 2% of the total trade volume locally.
He added that the company focuses heavily on the Egyptian market and puts it among the company’s priorities.
Recent reports indicate that Egypt is the leading Arab country in terms of growth rates with 48 million internet users under the age of 30 who have a smartphone or computer.
According to various reports, Saudi Arabia and the UAE are the two largest markets in terms of total e-commerce sales in the region.
The Arab Gulf region and Egypt account for 80% of e-commerce in the Middle East, with annual growth rates of more than 30%.
Recent reports confirm that the volume of the e-commerce sector in the MENA region is expected to grow to $28.5bn by 2022, up from $ 8.5bn in 2017.