DeTA

We remember and honor the contribution of HH Sheikh Khalifa bin Zayed Al Nahyan to building this great nation. May his soul Rest In Peace 🙏🏽

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What’s news?
UAE’s Metaverse pioneer Bedu launches in Dubai (zawya.com)

Humour me more, please?
- Bedu, a pioneer in Web3 technologies and solutions, has launched in Dubai

- Web3 uses AI, machine learning and blockchain to make the internet smarter

- Bedu operates under two business verticals: Bedu Labs and Bedu World

Why does it matter?
Bedu was “formed to bring expertise and investment from around the world to the UAE” to accelerate the development of Web3, blockchain, NFTs and the Metaverse.

What’s in it for me?
For you and the MENA region, Bedu’s expanding business in NFTs and blockchain is good news. The first exciting project from Bedu as part of the UAENFT collection is the ‘From Desert to Mars’ that showcases works created by seven international NFT artists.

Doukani.com Priya Komalavally Muralidharan NFTI

What’s news?
Abu Dhabi unveils world’s biggest Arabic AI language processing model (thenationalnews.com)

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- Abu Dhabi has unveiled world’s biggest natural language processing (NPL) model for the Arabic language
- The NPL is a milestone in the AI sector
- The Noor model, developed at Abu Dhabi’s Technology Innovation Institute, can help in the making of chatbots, market intelligence and machine translation tools
- Currently, most such tools cater to English and Chinese speaking markets

Why does it matter?
According to the team that developed it, Noor can be used by companies and academics to build new tools, or to develop new Arabic virtual assistants. A smaller version would also be
made available to the public.

What’s in it for me?
Noor is the “largest high-quality cross-domain Arabic dataset ever made. It can summarise texts, assist with writing, power chatbots and evaluate the language level of people.

Doukani.com Priya Komalavally Muralidharan

What’s news?
IN4X Global introduces cryptocurrency payment solution in the Middle East (gulfbusiness.com)

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- iOWN wallet is cryptocurrency company IN4X Clobal’s new payment solution for Middle East
- The new platform seeks to “empower businesses to accept cryptocurrencies as an additional payment mode”
- The iOWN wallet also accepts the iOWN token, USDT, USDC, and various other cryptocurrencies

Why does it matter?
The crypto payment gateway enables speedy transactions at any bank in the world, with seamless and real-time tracking of orders and payments. Businesses also have the option for instantaneous cash to crypto conversions.

What’s in it for me?
If you believe that crypto is the future of business, you have reason to be happy. The use of cryptocurrency has been growing stronger “in terms of variety, acceptance, versatility, and knowledge”

Doukani.com Priya Komalavally Muralidharan IOWN Token

What’s news?
Ajman Free Zone to facilitate e-commerce sector’s growth - GulfToday

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- UAEs Ajman Free Zone (AFZ) has become an Amazon Web Services (AWS)Activate Provider
- This means that startups affiliated with AFZ can apply for the AWS incentive programme and receive free AWS credits, technical support, training, resources and more
- The AWS programme offers grants up to $25,000 to qualified startups
- AFZ helps make Ajman a preferred destination on the regional investment map

Why does it matter?
The AWS Activate Provider status is another step towards cementing AFZ’s position in the region’s e-commerce and IT sectors.

What’s in it for me?
Through the AWS incentive programme, AFZ will now offer a wide range of programmes with benefits for startups.


Ajman Free Zone Doukani.com Priya Komalavally Muralidharan

What’s news?
How the UAE is rethinking the concept store | Vogue Business

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- Majid al Futtaim (MAF), which operates Mall of the Emirates in Dubai, says that UAE customer confidence was at its highest level in 10 years in Q3 2021

- MAF research shows that the footfall in the malls for the said quarter was up by 18% on the same period in 2020

- With Dubai retail picking up after the pandemic, the returning customer are looking for something extra

- The new concept store, a mix of hospitality and retail under one roof, is the answer to that

- Luxury shopping on wheels — “where you can literally hop on and shop in a luxury bus” — is another new retail experience

Why does it matter?
Concept stores are writing a new chapter in Dubai’s retail history. In January 2021, the launch of That Concept Store, a high-profile store at Mall of the Emirates, marked MAF’s entry into concept retailing.

In January 2022, MAF added Store of the Future at Mall of the
Emirates to its concept store portfolio, combining e-commerce and an experiential physical space. With cameras, sensors and AI technology, it offers a hyper-personalised shopping experience.

What’s in it for me?
A high-spend youth-driven market like the UAE is the ideal ground for concept stores. Which means it will get more global concept store players such as Dover Street Market and 10 Corso Como.

April 22, Top 5 e-commerce News this week

This week read how UAE is rethinking Concept Store.
A new cryptocurrency payment solution is introduced in the Middle East. Find out more.
And world’s biggest Arabic AI language processing model is launched in Abu Dhabi. Guess what it is called.

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What’s news?
Metaverse will not be a distraction for advertisers or brands, says ad guru Jon Cook | Business – Gulf News

Humour me more, please?
- In a recent interview, Jon Cook, global CEO at VMLY&R, said Metaverse won’t be a distraction for agencies who are at the top of the brand engagement game
- Cook added that in the last two years, more and more “people have flocked to virtual and gaming escapes such as Fortnite, Roblox, or Decentraland”
- With cost inflation likely to be a 2022 constant, Cook says that the brands “who make big moves and statements while others sit out the inflation chaos” will win

Why does it matter?
Metaverse is said to have changed the game of advertising and agencies are now trying to tap into the potential that the Metaverse has. These are interesting times for the ad marketing sector.

What’s in it for me?
You stand to benefit as a consumer when all players in the market are trying up the standard of the game.

What’s news?
Nearly 72 percent of UAE consumers spend 15 minutes on research before buying - Arabian Business

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- A new consumer study has revealed that 72% of UAE consumers spend at least 15 minutes researching before buying
- Around 80% check at least three sources before making a purchase
- Consumers cited “greater reliance” on fellow customer reviews (69%) and online research (65%)

Why does it matter?
The Kearney Consumer Education study says that during the pandemic, consumers got used to buying online. Therefore, reviews and research are now part of the game. And it’s a cue for brands and businesses to adapt themselves to the post-pandemic consumer.

What’s in it for me?
A chance to understand your audience. New products, smart innovations and persuasive marketing are important, but not more than the knowledge of attracting the buyer and winning their trust. Going forward, the study found that consumers will begin demonstrating more traditional inflationary behaviours.

What’s news?
Kuwait ranks third among GCC states in personal well-being - ARAB TIMES - KUWAIT NEWS (arabtimesonline.com)

Humour me more, please?
- Kuwait comes third among the GCC countries in terms of personal well-being
- The ranking is based on the 35% growth that Kuwait’s luxury goods market saw in 2021. It is the highest growth in the Gulf region for 2021
- UAE and Saudi Arabia come first and second in the list respectively
- The Gulf’s personal luxury goods market is expected to reach $11 billion in 2023

Why does it matter?
A report issued by the Chalhoub Group, a luxury goods retailer and distributor in the UAE, and the Fashion Authority goes to show that the luxury goods market in the Gulf showed an early recovery post-pandemic. And several factors have contributed to the rising curve: growth of domestic spending, return of international tourists, entry of new categories of consumers in the luxury sector and innovations in products.

What’s in it for me?
Not a ray but a flame of hope that things are finally looking up. Though travel restrictions have been eased, you must not forget that during the first few waves of the pandemic in 2020 and 2021, the domestic buyer kept the luxury goods business from drying up. The inward spending has been a game-changer.