Majid Al Futtaim and Tabby unveil new SHAREPay integration feature for enhanced shopping experience

 

• Shopping mall customers experience exceptional flexibility after Tabby is integrated into Majid Al Futtaim’s SHARE app
• Shoppers at any Majid Al Futtaim mall can now benefit from flexible payment options for their luxury purchases with BNPL

Dubai, UAE; 2 September 2024: Majid Al Futtaim, the pioneer in shopping malls, communities, retail, and leisure across the Middle East, Africa, and Asia, proudly announces the continued success of its strategic partnership with Tabby, the leading shopping and payments app in the GCC.

Initially, the partnership that took off in July 2023 allowed Tabby to operate within all Majid Al Futtaim-owned stores in the UAE malls. However, this summer marks the launch of an exciting new feature that integrates Tabby into the SHARE app, making Majid Al Futtaim the largest vendor utilising BNPL services in the region. By integrating Tabby’s BNPL services into the Majid Al Futtaim SHARE app through the SHAREPay feature, the shopping experience is now newly revamped for home and luxury enthusiasts.

With this integration, customers can now indulge in luxury shopping at any Majid Al Futtaim mall or furnish their homes with stylish pieces, all while enjoying the financial flexibility that BNPL offers. Data shows that Home and Luxury are the most significant target markets for SHAREPay, highlighting the immense potential for shoppers in these categories.

SHAREPay is Majid Al Futtaim’s own digital wallet linked to its SHARE loyalty programme, allowing users to accumulate and spend points seamlessly across various Majid Al Futtaim brands and partners. By incorporating Tabby into SHAREPay, Majid Al Futtaim is enhancing its shopping ecosystem and offering more flexible payment options to its customers, including the option to ‘Split in 4 – In any store’. With this, you can shop at your favourite brands and split your purchases in four interest-free payments with no interest or hidden fees of any kind.

In the first nine months of the Tabby partnership, Majid Al Futtaim processed approximately AED 253 million in BNPL transactions, surpassing the initial Year 1 budget of AED 100 million. This significant increase highlights the strong demand and preference for flexible payment options such as Split in 4 among customers.

The collaboration has unlocked major strategic and financial benefits across the Majid Al Futtaim ecosystem, resulting in a 25-50% increase in Average Order Value (AOV) for Majid Al Futtaim outlets, with notable uplifts such as Carrefour seeing a 70% increase and Crate and Barrel experiencing a 30% rise. Additionally, there has been a ~45% increase in purchase frequency and repeated engagements globally, alongside a boost in brand loyalty and retention, particularly among younger consumers.

Over 216,000 total orders were placed across Majid Al Futtaim brands both online and in-store, with 14% of customers ordering from more than one Majid Al Futtaim brand. Additionally, 25% of customers made multiple purchases when using Tabby through Majid Al Futtaim brands. Notably, 60% of Tabby shoppers purchasing from MAF brands are women, with a significant AOV of AED 867.

Khalifa Bin Braik, CEO of Majid Al Futtaim Asset Management, commented on the partnership, saying: “Our collaboration with Tabby is a pivotal juncture for Majid Al Futtaim, as it continues to significantly enhance the customer shopping experience across our malls. By integrating Tabby’s BNPL services into our SHARE app, we are providing our customers with greater financial flexibility and convenience. This partnership underscores our commitment to innovation and excellence, ensuring that we constantly meet the evolving needs of our customers. We are thrilled about the opportunities this collaboration brings and are confident that it will continue to positively impact our business and customer satisfaction in the years to come.”

Hosam Arab, CEO and Co-founder of Tabby, “We’re proud of our partnership with Majid Al Futtaim and the flexibility we’ve brought to their shoppers. Now we’re taking it a step further with a one-of-a-kind integration with SHAREPay. This provides their shoppers with additional payment choices, and offers the ease, convenience and security of SHAREPay alongside the features users love in Tabby – flexibility, transparency and no hidden fees.”

This strategic partnership between Majid Al Futtaim Shopping Malls and Tabby is set to continue transforming the shopping experience in the UAE, making it easier for customers to purchase luxury items, furniture, and more with flexible payment options, and ensuring that shoppers continue to enjoy world-class experiences across all Majid Al Futtaim properties.

ENDS