Jarir expects promising Q4, plans 3 new stores: Chairman

Muhammad Alagil, Jarir Chairman

Jarir Marketing Co. expects a promising performance during the fourth quarter of 2024, anticipating growth of more than 20% in the GCC countries, Chairman Muhammad AlAgil told Argaam in an interview.

The company plans to open three new showrooms during the current quarter, and five in the coming year, he said.

Alagil noted that e-commerce in Saudi Arabia and other GCC countries achieved remarkable growth. Jarir was able to accomplish an excellent delivery service for the electronic store orders, as 50% of the orders reached customers in less than one hour.

The Chairman expects the company to achieve more growth in e-commerce.

He pointed out that installment sales represent more than 25% of Jarir’s sales with growth of more than 40%. The company is also working to improve many other aspects to enrich the customer experience, including after-sales service and installment sales.

Alagil further explained that among the company's plans for the coming months is to develop the website and raise its efficiency, in addition to continuing to improve after-sales services.

According to data available on Argaam, Jarir’s profits fell to SAR 698.6 million by the end of the first nine months of 2024, compared to SAR 699.9 million during the same period in 2023. Q3 2024 profit rose 4% year-on-year to SAR 308.2 million.