LuLu ramps up investment in ecommerce

Thursday 25 November 2021 13:55 CET | News

UAE-based retailer LuLu Group has planned to invest EUR 242 million in its ecommerce and logistic capabilities to augment its online sales by the end of 2024.

The investment is set to go toward ‘fulfilment centres’ to handle stock needs and toward a fleet for last-mile delivery. LuLu reportedly intends to bring in smaller online-focused vendors, in addition to introducing new product categories.

Online sales account for approximately 5% of the group’s total sales, but LuLu aims to increase that figure to 15-20% by the end of 2024, according to the press release. The Covid-19 pandemic has accelerated the pace of investments in digital channels in the Middle East, per Gulf News, with a greater focus on contactless payments.

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Keywords: ecommerce, investment, retail, online platform
Categories: Payments & Commerce | Ecommerce
Countries: United Arab Emirates
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