Monday, July 15, 2024

Lowering Market Entry Barriers for Retailers: Curate’s Futuristic Mission

Last updated Tuesday, July 2, 2024 11:34 ET , Source: Curate

Curate, the world's first phygital market access platform coming to Reem Mall Abu Dhabi later this year, revolutionizes retail expansion, lowering the cost of market entry and expansion for brands.

Abu Dhabi, United Arab Emirates, 07/02/2024 / SubmitMyPR /

For any retailer, the main objective is to have a physical presence within the most popular high street and designer brands in prime shopping malls. This opportunity, however, is often not realized due to harrowing market entry and rising retail operation costs. The daunting reality forces many businesses to remain in the online arena, missing out on the opportunity to physically present the brand, while generating valuable customer-centric brand experiences.

Bridging that gap, Curate, a new phygital retail platform that is blending the worlds of e-commerce, physical retail, and integrated global logistics, offers retailers the opportunity to participate in a pioneering movement while generating value from combined capabilities of in-store display and e-commerce at a fraction of the cost. “This platform, coming to the $1.2 billion mega-mall in downtown Abu Dhabi, Reem Mall, later this year, is designed to redefine the current shopping landscape, enriching it with sustainability, efficiency, and personalization,” said Milat Sayra Berirmen, Digital Innovation Director of Reem Mall.

At the heart of Curate is sustainability, beyond the technology’s immense potential to tackle environmental issues by reducing inventory space, energy, and water usage, it offers sustainability from a capital perspective. When it comes to entering the market, Curate significantly lowers entry barriers by enabling retailers to showcase products physically, while benefiting from the endless-aisle capability of the Curate online marketplace as each physically displayed product in the Curate showroom provides enhanced digital experience once the customer scans the QR code in front of each physically showcased product and relayed to the respective product display page in the online marketplace. This robust capability enables the retailers to present their brand with a limited number of products while showcasing their entire product portfolio digitally.

To help further mitigate market entry risks, Curate offers short-term leasing, combating the common trend of lease periods exceeding a decade before comprehending market dynamics. This idea is a result of an epiphany moment, in which Milat Sayra Berirmen, Reem Mall’s Digital Innovation Director, realized how many gaps digital leases would fill, promoting brand onboarding rather than long-term rentals. “Come in for six months, test the market, and see if you want to stay, expand, or leave, with minimal capital requirement,” says Berirmen.

“The reason we designed this product is to enable retailers to operate their business in the most sustainable fashion, give customers a superior experience, and merge sustainability with innovation. Our objective is to bridge the gap between personalized customer experience while enabling retailers data-driven, and cost-effective market expansion. The foundational revolution will be for retailers to perfect their catalog by synthesizing personalized customer QR code scans to purchase data.”

Curate, entering the most digitally advanced mall in the world in late 2024, is the first all-encompassing market access platform addressing the needs of both retailers and customers. For Curate, it is the vibrant culture of the United Arab Emirates, where hundreds of cultures, cuisines, and stories intertwine, that inspired this invention, with its ability to connect diverse brands within a singular phygital space.

In addition to lowering the market entry barriers, the new technology will reshape the way clients immerse themselves inside Reem Mall. From AI-powered product recommendations based on one’s interaction with QR code scans, saved preferences and recent purchases, Curate is the ultimate platform providing seamless and personalized retail experience.

“I genuinely believe Curate can revolutionize the way retail and e-commerce operate, merging the best of both worlds. As the market direly needs a platform that can mitigate risk stemming from market expansion,” adds Berirmen.

Media Contact

Name: Milat Sayra Berirmen

Email: [email protected]

Original Source of the original story >> Lowering Market Entry Barriers for Retailers: Curate’s Futuristic Mission