Leading OmniChannel Tech Retailer in the region, Jumbo Electronics, has announced a series of new digital retail initiatives especially targeted towards millennial and digitally-savvy buyers.
According to a report by Coresight Research, 55 per cent of consumers, listed buying gifts as a reason for shopping in stores, making it the most cited factor for shopping during this season. This is likely because people buy more gifts for others than themselves, often leading them to start shopping without knowing exactly what they want.
Another whitepaper published by a global leader[1] in end-to-end gifting states that the international market for gift cards is likely to grow to AED2.6 trillion (US$698 billion) by 2024, more than double its current value of AED1.12 trillion (US$307 billion). The gifting market in the Middle East region is expected to be close to AED165 billion (US$45 billion). This indicates a huge opportunity, especially given the burgeoning number of smartphone users in the UAE.
Jumbo’s new initiative is inspired by this insight and it allows its customers to buy a digital gift card which can then be redeemed online or offline. The Digital Gift Card can be purchased by logging on to www.jumbo.ae/giftcard within few seconds or at any Jumbo stores.
These initiatives are a part of Jumbo’s vision to provide a seamless digital and physical retail experience. Jumbo has also launched a Digital Raffle feature at its brick and mortar stores as well as eCommerce retail platforms. With the launch of the digital initiatives, Jumbo is the only omnichannel technology retailer in the region that is offering a complete digital experience.
Kiran Borkar, Head of E-Commerce, Jumbo Group, said: “Our eCommerce business has been growing at an exponential growth rate of over 250 per cent per year. It is important for us to provide a fully digital platform that allows our customers to be able to not only buy gift cards digitally, but also participate in our raffle-based promotions online. We have also added the concept of EndlessAisle in our stores allowing customers to check out from anywhere in the store for products that will be delivered to their desired location free of charge[2].”
Jumbo’s Digital Gift Card will allow customers the chance to buy products online or in-store and redeem it either at Jumbo’s online store or at any physical outlets. The Digital Gift Card and the Raffle Coupon are delivered in the form of an email or SMS and includes a barcode and a unique code. The gift card can be used to purchase the gift online or at the store and is valued at AED 50 / AED 100 / AED 200 / AED 500.
Jumbo’s digital initiative is in line with the company’s mission to reduce the usage on paper and support the UAE Government’s vision for a digital future.
