Through this investment SOUQ.com has become a strategic investor with a view to further expand InstaShop offering in the fast growing FMCG and Grocery categories, leveraging on its current user base. Investment banking firm Morgan Stanley estimates an increase in grocery shoppers buying online from 21% in 2015 to 34% in 2016.
InstaShop has been made available through both Android and iOS, allowing customers to have groceries delivered to their doorstep in as fast as 30 minutes. Users of the app simply choose their products, select their delivery location and pay either via credit card or choose the cash on delivery option.
SOUQ.com has recently announced investments in Wing.ae and helpbit.com. These new partnerships support SMEs in the region and create an integrated network to provide online shopping, delivery and after sale service experience for customers.
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