Jarir’s e-commerce sales rise 31% in Q1 2021, market share exceeds 20% in mobile, smart device segment: chairman

Jarir Marketing Co. (JMC) realized a rise of 31% year-on-year (YoY) in e-commerce sales in Q1 2021, accounting for 8% of total sales, JMC’s Chairman Mohammad Al Aqeel told Argaam in a phone call.

The company was able to boost its market share in the mobile phones and smart devices segment by more than 20%, he said, adding that the laptop registered a 50% increase.

Al Aqeel clarified that installment sales are achieving rapid growth, noting that establishing a finance and installment firm to support the sales is not an exception, but it is not in the near future.

Jarir Marketing opened two branches of Jarir Bookstore and four additional branches will be opened this year.

According to data compiled by Argaam, Jarir Marketing Co. reported a net profit after Zakat and tax of SAR 267.6 million for Q1 2021, a rise of 6% from SAR 251.7 million in the prior-year period.