Souq.com, the most visited online retailer in the Middle East, will eliminate its auction service as the website looks to triple its product listings over the next year.
Souq.com launched the service in 2005 and quickly drew comparisons as the "eBay of the Middle East". But the website will shift its strategy to offering goods only at fixed prices, encouraging traditional retailers to sell their products on its platform.
Ronaldo Mouchawar, the chief executive of souq.com, said that deciding to end online auctions was not easy but that internal research determined that few auction sales had occurred on the site over the past few months.
"The decision to switch our focus was inevitable," Mr Mouchawar said. "We just felt with the number of items on the site, it was a good time to move forward and introduce new features, such as product reviews and price comparison services.
According to recent research analysis from Arab Advisers, a technology consultancy, souq.com is the most visited Middle East online retailer Its competition includes portals such as Neelwafurat.com, Essoog.com and ilakta.com.
The website is the leading property of Jabbar Internet Group, the largest Middle East online retailing company, which operates in other sectors such as gaming, group buying and internet advertising.
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Over the past year, souq.com has opened websites in Saudi Arabia, Jordan, Kuwait and Egypt and has signed up retailers such as iStyle, Ayhan, and Sharaf DG to provide dedicated shopping portals.
"It took about 12 months of analysis for us to be convinced that we would not be offering auctions any more," Mr Mouchawar said. "I had to be personally convinced and made the decision after only a handful of auctions closed [in November]."
Souq.com lists about 120,000 products on its website compared with just 5,000 auctions. Mr Mouchawar projects that up to 400,000 items could be added over the next year.
If souq.com's projections for growth are accurate, its expansion would help to catalyse the region's burgeoning online retail market, which still represents just a fraction of the total retail market.
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UAE consumers spent an estimated US$19.6 million (Dh71.9m) on online purchases in 2009, the most recent year for which figures are available, compared with an estimated total of $10.9 billion of non-grocery retail spending in bricks and mortar shops, data from the research firm Euromonitor shows.
E-commerce in the UAE should grow by 72 per cent to about $33.7m by 2014, Euromonitor forecasts.
"The goal here is really simple," Mr Mouchawar said. "We and our sellers want to provide the best shopping experience to buyers and create a place for them to easily buy items."
Still, while souq.com aims to make it easier and cheaper for retailers to sell goods online, some are not convinced the system is ready.
Narain Jashanmal, the executive vice president of media and distribution at Jashanmal Group, said in a post on the question-and-answer website Quora that souq.com had "got some way to go" before it could be fully adopted by the region's retailers.
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Stars: Woody Harrelson, Jesse Eisenberg, Emma Stone
Four out of five stars
Day 1, Abu Dhabi Test: At a glance
Moment of the day Dimuth Karunaratne had batted with plenty of pluck, and no little skill, in getting to within seven runs of a first-day century. Then, while he ran what he thought was a comfortable single to mid-on, his batting partner Dinesh Chandimal opted to stay at home. The opener was run out by the length of the pitch.
Stat of the day - 1 One six was hit on Day 1. The boundary was only breached 18 times in total over the course of the 90 overs. When it did arrive, the lone six was a thing of beauty, as Niroshan Dickwella effortlessly clipped Mohammed Amir over the square-leg boundary.
The verdict Three wickets down at lunch, on a featherbed wicket having won the toss, and Sri Lanka’s fragile confidence must have been waning. Then Karunaratne and Chandimal's alliance of precisely 100 gave them a foothold in the match. Dickwella’s free-spirited strokeplay meant the Sri Lankans were handily placed at 227 for four at the close.
BOSH!'s pantry essentials
Nutritional yeast
This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.
Seeds
"We've got a big jar of mixed seeds in our kitchen," Theasby explains. "That's what you use to make a bolognese or pie or salad: just grab a handful of seeds and sprinkle them over the top. It's a really good way to make sure you're getting your omegas."
Umami flavours
"I could say soya sauce, but I'll say all umami-makers and have them in the same batch," says Firth. He suggests having items such as Marmite, balsamic vinegar and other general, dark, umami-tasting products in your cupboard "to make your bolognese a little bit more 'umptious'".
Onions and garlic
"If you've got them, you can cook basically anything from that base," says Theasby. "These ingredients are so prevalent in every world cuisine and if you've got them in your cupboard, then you know you've got the foundation of a really nice meal."
Your grain of choice
Whether rice, quinoa, pasta or buckwheat, Firth advises always having a stock of your favourite grains in the cupboard. "That you, you have an instant meal and all you have to do is just chuck a bit of veg in."
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The Indoor Cricket World Cup
When: September 16-23
Where: Insportz, Dubai
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
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