Is QICKSHOP the doom of traditional e-commerce?
HEXXION, the venture capital firm in UAE known for carving out the best opportunities, have unfurled their plans to disarray the traditional e-commerce in the materializing markets, with the launch of QICKSHOP in UAE, the pioneering fully suburbanized mobile-based network. With Hexxion having a strong disposition towards unique ideas and being a VC firm that seeks areas of abundant potential, QICKSHOP is going to be a revolutionary plan on its own.
QICKSHOP gained mobility after culminating the pilot test with flying colors, and as rejoindered by the company, is supposed to be launched in the second part of 2021. Not unveiling much about their future plans, the firm dropped subtle hints that they plan to exceedingly expand to the flourishing growing markets subsequent to the launch. With vagueness, the firm commented that they had some countries for which they have plans ready to be effectuated.
Garnering a seed investment of a breathtaking amount of $2 million from Sameera Devuruwan, aka Sam Dee, who with profound cognizance and dexterity is the founder and CEO of HEXXION. Chaperoning the firm, his seed fund has been called on for managing the significant aspects of market research, product development, expanding its retailer network, and pilot testing. Planning to effectively and cognizably utilize the resource to boost the opportunities, extensive research is being implemented.
Utilizing the technological resources at their best and maneuvering machine learning algorithms for data analysis and collection, preparing models to discipline the real-time inventory information and delivery channels, in every categorical product area, irrespective of the seller criteria, the firm is deemed to acquire its goals of establishing localized strata in no time, as expounded by the CEO Sameera Devuruwan.
Over the past few years, QICKSHOP has been aiming to procure the suburbanized or the decentralized model, allowing a real-time performance evaluation through an on-site fulfillment of orders and stock validation. Targeting the stirring markets vigorously, QICKSHOP can prove to be a dominant competitor to the existing e-commerce and prove to be the ruination of traditional e-commerce.
“From the monetary and categorical perspectives, QICKSHOP holds the ability to provide the products cheaper than the other e-commerce alternatives and almost instantly, consequently adding to the confidence that the audience would welcome the concept. To enhance and add-on to the ordering and delivery process, real-time geo-tracking and advanced search capabilities are added price and proximity filters, boosting user interest and increasing transparency.
In accordance with the data gathered by UAE-based Mashreq Bank, e-commerce spending in the UAE rose by 48 percent in 2018. Last year, a BMI Research report forecast the region’s e-commerce market to grow to $48.6 billion by 2022, up from an estimated $26.9 billion in 2018.