World’s biggest mall to be built within a futuristic city in Dubai

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A world within a glass dome

 

In a place where summer temperatures go up to 104˙ F, a temperature controlled city within a glass dome would do nicely. The monarch of Dubai and vice-president cum prime minister of UAE, his highness Sheikh Mohammed bin Rashid Maktoum announced the plans of “The Mall of the World” recently. This 50 million square feet mega development project would be home to an 8 million square feet shopping complex, 100 hotels, the world’s largest indoor theme park, cultural theatres and a wellness centre. The ambition of this project is to transform Dubai into a global cultural, touristic and economic centre to benefit the 2 billion people living in the surrounding regions. The completion dates for this futuristic and seemingly outlandish capitalistic fantasy has not been announced yet.

Even though Dubai has had an extraordinary recovery from its 2009 crisis, the IMF fears that the city could be heading for yet another property bubble. The city’s real-estate market, driven by foreign investment had grown exponentially for many years prior to coming to a halting crash during the time of the global financial crisis. Recently, in light of regional turmoil, the perception of Dubai as a safe haven and its strong recovery from the 2009 catastrophe has played a part in attracted flocks of investors in the market. However, IMF advices strong measures to be taken to dampen what seems like a repeat of speculative prices in the real-estate market yet again.

The growth in family and retail tourism has pushed the need for Dubai to improve its tourism infrastructure. Family tourism has a big market and is growing steadily. The indoor self-sufficient “pedestrian city” completes with all shopping and entertainment options you could wish for, tourists will not feel the need to step out of it. With 4.5 miles of temperature-controlled streets, the retractable reflective glass dome can be opened during mild-winter for residents to enjoy the outside weather.

Dubai should be cautious with this project and make sure it doesn’t repeat China’s Manhattan replica blunder. The success of this venture, with a capacity of hosting over 180 million visitors per year, can only be judged by time. With people leaning towards online shopping, such extravagant investment on physical retail can seem but questionable. In today’s world, it is possible to build an online mall with the capability to host unlimited amounts of brands, just a click away

The new retail opportunity is within your hands

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Literally. Smart phones are increasingly becoming an essential part of the overall purchase process. Consumers are constantly searching and curating products and services they are interested in through their tablets and smart phones. Empowering retailers with information through mobile apps/sites has the potential to enhance and revolutionize the whole buying process.

Statistics do not lie. A clear trend can be seen as the world progressively relying more on mobile technology due to its availability and ease to use. 84% of smart phone users were found to use their mobile in store according to Google Adwords( 2013)

Mobile Commerce 2014 Survey

Source: google adwords (2013)

Although the sale conversion rates are lower on smart phones as compared to traditional e-commerce, smart phones play a big a big role in influencing purchase decisions. Shopping isn’t confined to physical outlets these days. Retailers cannot limit the shopping experience to retail stores and must design experiences for smart phones and tablets as well.

With the advent of affordable smart phones, India has seen a spectacular rise of smart phones leaving a huge potential for businesses to grow and develop in this arena.  Additionally, due to the lack in access to fixed broadband lines in the country, smart phones are increasingly serving as the window the internet, overtaking the pc in terms of internet traffic (graph 2).

Desktop vs Mobile Traffic India 2014

With customers having access to price comparisons, product reviews and product details at their fingertips, this migration to smart phones has implications the whole business. For instance, this would also affect the way you train employees, as 1 in 3 smart phone users prefer to use their phones over asking store employees for product information(Adwitiya, 2014a). Moreover, Competitive price matches for white goods are becoming imperative due to price comparisons online.

Whether it is an ice-cream parlour around the corner or a multinational corporation, innovation is the key to success in today’s ever-changing business environment. Here are 5 ways in which your business can have a better reach to the mobile savvy consumer.

  • Vouchers: Giving consumers access to mobile vouchers that can be redeemed for in store purchases is extremely effective to increase in store purchases. According to Juniper Research (2012), Mobile vouchers are redeemed 10 times more often than printout and traditional vouchers combined.

 

  • Loyalty Programs: Mobile technology makes loyalty programs more engaging, innovative and easy to use for the customers. It also serves the purpose of creating a community around the product, which, in turn, increases the value of the product. Returning customers, according to Inc., spend 67% more on average compared to first time customers (as cited in Shaw, 2013). Mobile based loyalty programs can allow for mobile tracking of points or reward redemption. Loyalty programs with visibility and accessibility perform the best.

 

  • Responsive design: A website that looks cumbersome on a 5-inch mobile device will not make a consumer favourable towards the brand. The goal is to create a website that translates equally well on PC, tablet and mobile devices as well as provides a personalised shopping experience by using GPS location, purchase history and push notifications. Responsive design can make customers feel more comfortable leading them to spend more on their phone.

 

  • Mobile Payment Processing: Investment in secure mobile technology can be done to take payments from customers. Smart phones can be used to pay for products in physical retail stores, in order to skip long register lines. This would make the trip to a retail store shorter and more efficient for the customer as well as the retailer.

 

  • Big Data: With the huge amount of data digital businesses have access to, it is essential to invest in data-minded people who can interpret your company’s big data to guide business decisions and improve the shopping experience. Fair privacy policies also should be in place so that customers are able to trust the company with their data.

 

How awesome are we compared to bespoke eCommerce solutions?

how are we different compared to bespoke eCommerce solutions?

We have been getting many queries on how are we different from next shop bespoke developers who promises a great eCommerce dream. Many a times this dream is mirage. We advice you not to fall into the trap but evaluate in detail before you embrace any eCommerce solution.  

We believe in under promising and over delivering. Sometimes we brag about how our eCommerce Platform is awesome. Here are 9 convincing reasons why we are different from bespoke developer’s solution.

Decoding the 100 Million Facebook Users for Retailers

Facebook Users for Retailers

Well, it was a big news in the digital world! Facebook officially announced that India has crossed the magic mark of 100 Million monthly active users – that is more than the population of top 10 metropolitan cities put together!

Retailers, watch out! 9% of India’s population are on Facebook and it is till now used to garner likes for your brand page. Very few brands have leveraged the power of Facebook Commerce.