Generative AI and Retail Media Transforming MENA E-commerce
A groundbreaking fusion of generative artificial intelligence (AI) and advanced retail media technologies is reshaping MENA's e-commerce landscape.
This transformative duo is predicted to drive higher customer purchase decisions, boost sales volumes, and elevate profit margins for major online marketplaces like Amazon, Noon, and Talabat.
Generative AI, a pivotal force behind this revolution, enables the creation of visually stunning product images in diverse formats and scenarios. This empowers consumers to make more informed purchase decisions by presenting products with unmatched detail.
Retail media technologies complement generative AI by optimizing product promotion, directing traffic to product listings, and significantly enhancing sales. This approach not only increases product quantity and quality but also reduces returns.
Yury Shishkin, founder of Dubai-based 24TTL, a leading SaaS company in this field, underlines the impact of these innovations. He emphasizes that detailed product presentations boost customer confidence and reduce returns. 24TTL has established partnerships with global giants like LG, Samsung, and Hyundai, along with local retailers and marketplaces, further driving this transformative trend.
Generative AI goes beyond aesthetics—it enhances understanding of customer preferences, enabling dynamic pricing strategies aligned with market conditions. Sellers can adjust prices in real-time, increasing profitability during shortages.
24TTL's 24AI, a market breakthrough, allows marketplaces to create visually captivating products, enriching their digital shelf appearance and search visibility. With over 100,000 users, including major businesses, it's gaining traction.
Another 24TTL innovation, 24ORM, monitors content across online retail platforms, providing real-time analytics on key metrics across more than 300 stores. This helps companies respond to competitors' changes, saving costs.
These advances come as MENA's online shopping is booming, set to reach $57 billion by 2026. In 2023, online shopping in MENA increased by 68%, with 91% of customers regularly shopping online. The UAE's e-commerce market is estimated at $11.4 billion in 2023, expected to reach $17.2 billion by 2027.
24TTL plans a major MENA expansion, integrating its technologies with key players. To support this growth, they seek up to $5 million in investments, engaging with institutional investors in Dubai and local syndicates. This strategic move aims to propel the e-commerce revolution in MENA to new heights.
Generative AI, a pivotal force behind this revolution, enables the creation of visually stunning product images in diverse formats and scenarios. This empowers consumers to make more informed purchase decisions by presenting products with unmatched detail.
Retail media technologies complement generative AI by optimizing product promotion, directing traffic to product listings, and significantly enhancing sales. This approach not only increases product quantity and quality but also reduces returns.
Yury Shishkin, founder of Dubai-based 24TTL, a leading SaaS company in this field, underlines the impact of these innovations. He emphasizes that detailed product presentations boost customer confidence and reduce returns. 24TTL has established partnerships with global giants like LG, Samsung, and Hyundai, along with local retailers and marketplaces, further driving this transformative trend.
Generative AI goes beyond aesthetics—it enhances understanding of customer preferences, enabling dynamic pricing strategies aligned with market conditions. Sellers can adjust prices in real-time, increasing profitability during shortages.
24TTL's 24AI, a market breakthrough, allows marketplaces to create visually captivating products, enriching their digital shelf appearance and search visibility. With over 100,000 users, including major businesses, it's gaining traction.
Another 24TTL innovation, 24ORM, monitors content across online retail platforms, providing real-time analytics on key metrics across more than 300 stores. This helps companies respond to competitors' changes, saving costs.
These advances come as MENA's online shopping is booming, set to reach $57 billion by 2026. In 2023, online shopping in MENA increased by 68%, with 91% of customers regularly shopping online. The UAE's e-commerce market is estimated at $11.4 billion in 2023, expected to reach $17.2 billion by 2027.
24TTL plans a major MENA expansion, integrating its technologies with key players. To support this growth, they seek up to $5 million in investments, engaging with institutional investors in Dubai and local syndicates. This strategic move aims to propel the e-commerce revolution in MENA to new heights.