Mall.Global, a Dubai-based tech firm, has promised to revolutionize e-commerce in North Africa and its other select markets with the launch of a $500 million retail platform of the same name.
The debut venture was unveiled this week. The firm said the platform will give traditional e-commerce a facelift by incorporating immersive technologies and operational practices.
“The platform will offer a personalized experience to each user within a virtual world and employ innovative integrations and technologies to enhance the customer’s experience with; Brand Immersion, Virtual Reality (VR), On-Ground Augmented Reality (AR) Cues, Micro-Influencer Reviews, Artificial Intelligence (AI) & Machine Learning, Cross-Platform Loyalty and multi Cryptocurrency acceptance; to offer what the developer refers to as a True Hybrid experience,” the company said in a recent announcement.
The platform is due to go live by 2020 with over 2500 brand stores and sequential launches across North Africa, Europe, Commonwealth of Independent States (CIS), China and the Gulf Cooperation Council (GCC), a regional bloc consisting of all Arab states of the Persian Gulf except Iraq.
Mall.Global will undergo testing with live customer sets early next year.
The announcement comes at a time when emerging markets are home to 90% of the world’s millennials.
“With an annual income expected to surpass $4 trillion by 2030, Mall.Global’s True Hybrid experience is designed to match the lifestyle of these Digital Natives,” said the tech firm in its statement.
“Mall.Global is designed to be the true definition of a digital mall, where brands can do much more than just sell products and in fact recreate the retail experience to deliver the perfect bridge between on-ground and online,” the company added.
According to company officials, Mall.Global will enable brands to deliver their personality and communicate their campaigns in an online environment as well as they do them in traditional retail.
Every brand on the platform will have its own VR Store Design Toolkit that will enable them to design, create and constantly update their online stores in sync with their campaigns, collections and seasons.
“Some of the best innovations of our time have come as a result of need,” said Serial Entrepreneur and Mall.Global CEO, Sofya Shamuzova, whose project is aided by a tech team of global e-commerce and technology professionals.
“The need, in this case, was to attain a higher level of value and convenience, maintain all aspects of online shopping that consumers are used to and retain the essence of brand personas as in traditional retail,” she added.
“The platform is designed to address the most common wishes of customers with features like ‘Try & Buy’ where shoppers have the option of receiving certain products like apparel and footwear in a size above and below their chosen order to ensure 100% satisfaction in every sense of the word. The future is a place where customers don’t just browse and buy products but actually experience the brand before they do so, and Mall.Global will offer just that,” Shamuzova said.