With the start of the pandemic, the e-commerce renaissance started gaining momentum around the globe. In the meantime, omnichannel also started to gain priority giving rise to new customer trends in the market. The situation is no different in the Middle Eastern region. Now, consumers have more choices than ever before. Thus the retailer will need to work harder to maintain customer loyalty.
In a hyper-competitive world, unique loyalty programs are a valuable asset for retailers to bring personalization to customers’ experience, building loyalty and trust. Therefore, the Middle East region sees innovative partnerships in the current e-commerce landscape. For instance,
Notably, this partnership came on the back of the launch of the blockchain developer’s UAENFT Keypass in April 2022. The Keypass is nothing but the unique NFT membership for the Web3 community launched by UAENFT, the NFT unit of BEDU itself. Now the UAENFT Keypass members can access the latest information in the NFT space.
Post partnership with Omada, the newly developed platform will enable the holders of the UAENFT Members Keypass to receive exclusive benefits by connecting holders’ digital wallets to selected retailer websites. This is possible since BEDU, which developed this platform, will be available as a plug-in for e-commerce websites.
This newly developed system is so designed that it will automatically detect all non-fungible tokens contained in the wallet and will help in identifying the ones who will benefit their owners. Thus, this innovative platform consists of a new and engaging method to connect people to brands, driving customer loyalty over the long run in the region.
Since the UAE NFT movement is vibrant and growing, innovative partnerships will further help in the creation of a new digital economy attracting the digital-first natives of the region. The connection between Web3 and NFT technology and performance-based e-commerce and digital-marketing solutions will transform the traditional membership and loyalty programs into personalized marketing solutions, increasing the loyal customer base. Moreover, UAE has been enacting legislation to encourage and protect NFT participants; therefore, the consumer’s attitudes toward digital art are also changing. This has made room for these innovative partnerships to come into being, prioritizing customer experience.
In a post-pandemic world, technology has taken a key role in shaping the customer experience. Now, the future of customer experience will involve data and technology. Therefore, brands and organizations are leveraging data analytics and technology to deliver actionable, tangible experiences that can turn into relationships.
Customer Experience, a top priority for businesses in 2022, is becoming a key differentiator for the brands. Therefore, this unique partnership of BEDU and Omada will bring transformations in customer experience.
As per the Customer Experience, Live Intelligence Report for 2022, the Middle East region observes an increased investment in digital customer experience. The report states that nearly 60% of regional companies intend to invest in solutions to strengthen their data framework. From the investment point of view, nearly 66% of organizations plan to invest US$200,000 in Customer Experience in 2023, whereas nearly 14% will be investing between US$500,000 to US$1,000,000 for tech deployment.
Moreover, around 51% of regional companies are planning to adopt digital transformation implementation or expand AI, chatbots, analytics, and cloud capabilities. Now, NFT, a new and growing field, using this space for strengthening customer engagement is unique and, therefore, is projected to see increased demand for this technology over the next three to four quarters in the region.
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