Majid Al Futtaim, a pioneer in shopping malls, communities, retail, and leisure across the Middle East, Africa, and Asia, has set new benchmarks in the retail landscape by strategically partnering with Tabby, the leading Buy Now, Pay Later (BNPL) service provider in the GCC. This partnership, which began in July 2023, has evolved significantly, marking a milestone in how customers experience shopping, payments, and loyalty programs.
The Integration of Tabby with the SHARE App
The partnership between Majid Al Futtaim and Tabby initially enabled Tabby’s BNPL services within all Majid Al Futtaim-owned stores across UAE malls. However, the summer of 2024 introduced a game-changing feature—the integration of Tabby into the SHARE app through the innovative SHAREPay feature. This move solidifies Majid Al Futtaim’s position as the largest vendor utilizing BNPL services in the region, offering unmatched shopping flexibility for its customers.
With the integration of Tabby into SHAREPay, Majid Al Futtaim has revolutionized the shopping experience for home and luxury enthusiasts, allowing customers to indulge in high-end purchases or furnish their homes with stylish pieces without the immediate financial burden. The Home and Luxury categories have emerged as the most significant target markets for SHAREPay, underscoring the tremendous potential this collaboration unlocks.
SHAREPay: A Seamless Shopping Ecosystem
SHAREPay is Majid Al Futtaim’s digital wallet, intricately linked to its SHARE loyalty program. This feature allows users to accumulate and spend points effortlessly across various Majid Al Futtaim brands and partners, creating a cohesive and rewarding shopping experience. By integrating Tabby, SHAREPay now offers even greater flexibility through the “Split in 4” feature, allowing customers to divide their purchases into four interest-free payments. This integration not only enhances financial convenience but also aligns with Majid Al Futtaim’s commitment to innovation in customer service.
Record-Breaking Financial Performance: Surpassing Expectations
The financial impact of the Majid Al Futtaim and Tabby partnership has been profound. In the first nine months alone, Majid Al Futtaim processed approximately AED 253 million in BNPL transactions, far exceeding the initial Year 1 target of AED 100 million. This substantial growth reflects the strong demand for flexible payment solutions among customers, particularly the “Split in 4” option.
The strategic collaboration has yielded remarkable results across the entire Majid Al Futtaim ecosystem, leading to an increase of 25-50% in Average Order Value (AOV) across various outlets. Carrefour witnessed a staggering 70% increase in AOV, while Crate and Barrel saw a 30% rise. Additionally, the partnership drove a notable 45% increase in purchase frequency, reinforcing brand loyalty and encouraging repeated engagement, particularly among younger consumers.
Enhancing the Customer Experience
Beyond impressive financial metrics, the partnership has significantly enriched the customer experience across all Majid Al Futtaim properties. Over 216,000 orders were placed across Majid Al Futtaim brands, both online and in-store, showcasing the extensive reach and impact of Tabby’s integration. Notably, 14% of customers shopped across more than one Majid Al Futtaim brand, while 25% made multiple purchases using Tabby, highlighting the growing preference for flexible payment options.
The partnership’s impact is especially pronounced among female shoppers, who constitute 60% of Tabby users purchasing from Majid Al Futtaim brands, with an impressive average order value of AED 867. This demographic data underscores the importance of BNPL services in driving engagement and satisfaction among a diverse customer base.
Leadership Perspectives
Majid Al Futtaim’s leadership remains committed to enhancing customer experiences through strategic partnerships. Khalifa Bin Braik, CEO of Majid Al Futtaim Asset Management, emphasized the transformative nature of the collaboration, stating, “Our partnership with Tabby is a pivotal moment for Majid Al Futtaim, enhancing the shopping experience across our malls. Integrating Tabby’s BNPL services into our SHARE app provides our customers with unmatched financial flexibility and convenience, underscoring our commitment to innovation and excellence.”
Hosam Arab, CEO and Co-founder of Tabby, echoed these sentiments, highlighting the unique value that Tabby brings to Majid Al Futtaim shoppers. “We’re proud of our partnership with Majid Al Futtaim and the flexibility we’ve brought to their shoppers. Our integration with SHAREPay offers enhanced payment options and aligns with our goal of providing transparency, flexibility, and no hidden fees.”
The Future of Shopping
As Majid Al Futtaim and Tabby continue to expand their partnership, the focus remains on transforming the retail landscape through innovative payment solutions and enhanced customer experiences. This collaboration is not just about offering BNPL services; it’s about redefining how consumers interact with brands, making shopping more accessible, convenient, and enjoyable.
By integrating Tabby into its ecosystem, Majid Al Futtaim has positioned itself at the forefront of the retail revolution, catering to the evolving needs of modern consumers. Whether purchasing luxury goods, everyday essentials, or home furnishings, Majid Al Futtaim shoppers now enjoy unprecedented financial flexibility and convenience, ensuring that every shopping experience is memorable.
Conclusion
The partnership between Majid Al Futtaim and Tabby marks a significant step forward in the retail sector, providing customers with flexible, convenient, and transparent payment options. As this collaboration continues to thrive, Majid Al Futtaim remains committed to delivering world-class shopping experiences that meet the dynamic needs of its diverse customer base. The future of shopping in the Middle East, Africa, and Asia has never looked more promising.
