DeTA

What’s news?
UAE’s Metaverse pioneer Bedu launches in Dubai (zawya.com)

Humour me more, please?
- Bedu, a pioneer in Web3 technologies and solutions, has launched in Dubai

- Web3 uses AI, machine learning and blockchain to make the internet smarter

- Bedu operates under two business verticals: Bedu Labs and Bedu World

Why does it matter?
Bedu was “formed to bring expertise and investment from around the world to the UAE” to accelerate the development of Web3, blockchain, NFTs and the Metaverse.

What’s in it for me?
For you and the MENA region, Bedu’s expanding business in NFTs and blockchain is good news. The first exciting project from Bedu as part of the UAENFT collection is the ‘From Desert to Mars’ that showcases works created by seven international NFT artists.

Doukani.com Priya Komalavally Muralidharan NFTI

What’s news?
How the UAE is rethinking the concept store | Vogue Business

Humour me more, please?
- Majid al Futtaim (MAF), which operates Mall of the Emirates in Dubai, says that UAE customer confidence was at its highest level in 10 years in Q3 2021

- MAF research shows that the footfall in the malls for the said quarter was up by 18% on the same period in 2020

- With Dubai retail picking up after the pandemic, the returning customer are looking for something extra

- The new concept store, a mix of hospitality and retail under one roof, is the answer to that

- Luxury shopping on wheels — “where you can literally hop on and shop in a luxury bus” — is another new retail experience

Why does it matter?
Concept stores are writing a new chapter in Dubai’s retail history. In January 2021, the launch of That Concept Store, a high-profile store at Mall of the Emirates, marked MAF’s entry into concept retailing.

In January 2022, MAF added Store of the Future at Mall of the
Emirates to its concept store portfolio, combining e-commerce and an experiential physical space. With cameras, sensors and AI technology, it offers a hyper-personalised shopping experience.

What’s in it for me?
A high-spend youth-driven market like the UAE is the ideal ground for concept stores. Which means it will get more global concept store players such as Dover Street Market and 10 Corso Como.