UAE start-up Aladdin.life is officially expanding its current online marketplace for mobile and broadband services to a smart, multi-sector, AI and blockchain-enabled shopping and rewards platform.
Customers get 100% value back when shopping on the platform in the form of discounts on its online Reward store. At the outset, the new Aladdin Magic platform is targeting mobile service users to reach the UAE’s largest consumer segment and offer them greater value. The 100% value back will soon be extended to multiple sectors through partnerships with brands and retailers, online and offline.
Subhra Das, Founder & CEO of Aladdin.life said: “Our Magic platform will unleash a new era of smart shopping, where consumers’ shopping costs are offset by rewards and incentives from leading brands and retailers. Navigating the current world of discounts and offers from a myriad of retailers can be confusing and overwhelming. We are building a cutting-edge platform that simplifies and personalises shopping. It will promote a virtuous cycle where everyone stands to win: consumers, retailers and brands.”
For every dirham spent on purchases of telecom products and services from Aladdin.life or its retail partner network, customers get one dirham discount on the Aladdin Reward store. Products and services offered include mobile and broadband lines and packages from UAE telecom operators, prepaid mobile recharges, devices like smartphones, tablets, wearables, computers and more. Existing mobile and home service customers of UAE operators can also sign up and receive value back.
The full value back is given in the form of Aladdin Reward Coins which can be traded for discounts when shopping on the online Reward store. One Aladdin Reward Coin is given for every dirham spent on Aladdin.life or its retail partner network. For monthly mobile and broadband plans, Coins are automatically credited every month for active customers over the entire duration of their contract with UAE telecom operators.
Aladdin Reward Coins can be redeemed for discounts on the Aladdin Reward store, which currently features a wide range of consumer electronic products from hundreds of brands and retailers. Unlike other loyalty programs where 100 loyalty points usually convert to AED 1 on redemption, Aladdin gives AED 1 discount for every Coin. Hence the Reward Coins offer up to 100 times more value than other reward programs in the market.
Aladdin is expanding the earning and redemption opportunities for Reward Coins to multiple sectors, including food & dining, fashion, fitness, wellness, travel, tourism, entertainment and financial services.
The Aladdin Magic platform will be particularly appealing to Direct2Consumer brands, start-ups and click-and-mortar retailers who want to step into e-commerce. All existing telecom retailers in UAE can become a member of the partner network and extend the 100% value back benefit to their customers.
“With Aladdin Magic platform’s foray into mobile services shopping and rewards, the 100% Value Back Rewards becomes the world’s first such program designed to increase customer confidence, affordability and spending in the telecom sector, together with the potential to boost telecom operator’s revenues, profitability and investment capacity,” Subhra Das added.
Aladdin rolled out its online marketplace for telecom services in the UAE and has garnered one million visitors while in beta mode over the last seven months.
Global research shows that a lack of clarity in buying plans and low confidence in their current price plans and bills are key issues faced by customers in the USD 1.1 trillion mobile industry, which has five billion users. On the other hand, telecom operators worldwide are struggling with exponential growth in consumer data consumption without growth in customer spending, thereby reducing the investment capacity required to continuously upgrade network infrastructure and build more capacity. As per World Economic Forum, the global investment gap for digital infrastructure will reach USD 251 billion in 2025 and USD 456 billion in 2030.
