• Shoppers at any Majid Al Futtaim mall can now benefit from flexible payment options for their luxury purchases with BNPL

Dubai, UAE: 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-

Media Contact:
Sarah Alsalem
sarah@gambit.ae

About Majid Al Futtaim

Founded in 1992, Majid Al Futtaim is an Emirati-owned, diversified lifestyle conglomerate operating across the Middle East, Africa and Asia. The Group started from one man’s vision to transform the face of shopping, entertainment, and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the region’s most respected businesses, employing 43,000 people, with owned assets valued at US$18 billion and has the highest credit rating (BBB) among privately held corporates in the region. Majid Al Futtaim owns and operates 29 shopping malls, 7 hotels and four mixed-use communities, welcoming more than 600 million customers through its doors every year.

Majid Al Futtaim operates more than 600 VOX Cinemas screens as well as a portfolio of world-class leisure and entertainment experiences across the region including four indoor ski locations in Dubai, Abu Dhabi, Cairo and Oman as well as family entertainment centers Magic Planet and Little Explorers. It is the proud owner of the flagship Mall of the Emirates, Mall of Egypt, and Mall of Oman with the iconic City Centre shopping malls rounding out its portfolio across the region. The Group partners with world-class fashion, home, speciality retail and beauty brands, including lululemon, LEGO, Crate and Barrel, Shiseido, with over 70 stores and 20 digital platforms across the GCC. It also owns and operates THAT Concept Store, a multi-brand retail destination and app. Majid Al Futtaim is also the exclusive franchisee for Carrefour across markets in the Middle East, Africa and Asia, serving 770,000 customers daily. These offerings are powered by the UAE’s fastest growing loyalty programme SHARE, which offers customers a more personalised and data driven experience. The developer of choice for the region, Majid Al Futtaim is the creator of mixed-use communities including Tilal Al Ghaf in Dubai and Al Mouj in Muscat.

 Majid Al Futtaim has continued to set the standard for sustainable growth through its Dare Today, Change Tomorrow sustainability strategy. The Group is committed to becoming Net Positive in water and carbon by 2040.

www.majidalfuttaim.com

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About Tabby

Tabby creates financial freedom in the way people shop, earn and save by reshaping their relationship with money. Over 12 million users choose Tabby to stay in control of their spending and make the most out of their money.

Over 40,000 global brands and small businesses, including SHEIN, Amazon, Adidas, IKEA, H&M, Samsung and Noon use Tabby’s technology to accelerate growth and gain loyal customers by offering flexible payments online and in stores. Tabby is active in Saudi Arabia, UAE, and Kuwait, and is now valued at $1.5 billion in its last round of funding from Wellington Management, STV, Mubadala Investment Capital, PayPal Ventures, Arbor Ventures, Bluepool, Hassana Investment Capital, Soros Capital Management and Saudi Venture Capital.