UAE: Majid Al Futtaim And Tabby Enhance Shopping With SHAREPay Integration

Majid Al Futtaim, a leader in shopping malls, communities, retail, and leisure across the Middle East, Africa, and Asia, has announced the ongoing success of its strategic partnership with Tabby. This collaboration with the leading shopping and payments app in the GCC began in July 2023.

The initial phase allowed Tabby to operate within all Majid Al Futtaim-owned stores in UAE malls. This summer saw the launch of a new feature integrating Tabby into the SHARE app. This integration makes Majid Al Futtaim the largest vendor using BNPL services in the region.

By incorporating Tabby's BNPL services into the SHARE app through SHAREPay, customers can now enjoy luxury shopping or furnish their homes with stylish pieces while benefiting from financial flexibility. Data indicates that Home and Luxury are significant target markets for SHAREPay.

SHAREPay is Majid Al Futtaim's digital wallet linked to its SHARE loyalty programme. It allows users to accumulate and spend points seamlessly across various brands and partners. The integration enhances the shopping ecosystem by offering more flexible payment options, including splitting purchases into four interest-free payments.

In the first nine months of this partnership, Majid Al Futtaim processed approximately Dh253 million in BNPL transactions, surpassing the initial Year 1 budget of Dh100 million. This increase highlights strong demand for flexible payment options like Split in 4 among customers.

The collaboration has brought major strategic and financial benefits across Majid Al Futtaim's ecosystem. There has been a 25-50% increase in Average Order Value (AOV) for outlets, with Carrefour seeing a 70% rise and Crate and Barrel experiencing a 30% uplift.

Over 216,000 orders were placed across Majid Al Futtaim brands both online and in-store. Notably, 14% of customers ordered from more than one brand, and 25% made multiple purchases using Tabby through these brands. Additionally, 60% of Tabby shoppers purchasing from MAF brands are women, with an AOV of Dh867.

The partnership has also resulted in a ~45% increase in purchase frequency and repeated engagements globally. There has been a boost in brand loyalty and retention, particularly among younger consumers.

Khalifa Bin Braik, CEO of Majid Al Futtaim Asset Management, commented: "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."

Hosam Arab, CEO and Co-founder of Tabby added: "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 strategic partnership between Majid Al Futtaim Shopping Malls and Tabby is set to continue transforming the shopping experience in the UAE. It makes it easier for customers to purchase luxury items or furniture with flexible payment options while ensuring world-class experiences across all properties.