Credit cards at the ready ladies and gentlemen, Amazon mght just be launching in the UAE!
According to reports, the e-tailer has bought none other than homegrown souq.com. The two have been in talks since last year, and Bloomberg estimated the sale to be a staggering $1Billion!
The National has reported reports that the full acquisition of Souq, which generates 78 per cent of e-commerce in the Middle East and North Africa, by Amazon has been agreed.
It is also likely that Amazon will now setup an office in the region. What does this mean for us though, consumers in the UAE?
Well, we may be ble to buy Amazon products that aren't currently available in the UAE for one. The e-tailer has its own brand of products such as popular e-reader Kindle, and smart speaker Amazon Echo. Consumers will most likely be able to buy these products from the website itself.
Also, shipping will most likely cost next to nothing! Amazon has a service called Prime, which allows for an unlimited number of deliveries on products for an annual fee.
Lastly, competition will most likely drive prices down, meaning more goods for the average consumer.
Are you ready for Amazon? We can't wait!