Jumbo Electronics anticipates wider adoption of contactless payments technology in 2018

  
Jumbo Electronics anticipates wider adoption of contactless payments technology in 2018

Demand for Augmented Reality and Virtual Reality products expected to continue

Dubai, United Arab Emirates: Therecent launch of Amazon Go in Seattle, a new kind of retail experience with no checkout required, could stimulate wider acceptance and adoption of contactless payments in the region, according to Jumbo Electronics, the leading Omni-channel electronics retailer in the UAE.

The GCC region, particularly the UAE, is rapidly moving toward a digital and cashless society with e-commerce in the Emirates expected to be valued at AED36.7 billion (USD10 billion) by 2018, according to Frost & Sullivan.

With the UAE leading global smartphone penetration at 73.8 per cent and 91.9 per cent of the population being connected to the internet, according to Google’s recent research, e-commerce has become one of the fastest growing businesses in the country.

“The continuous advancement of technology has fuelled customers to shop online as well as encouraged the use of digital wallets. In the past 18 months, consumers in the country have already been using contactless pay via Apple Pay, Samsung Pay, Beam, Etisalat Wallet and Emirates NBD Pay among others. RTA has also introduced using Nol cards as prepaid cards at convenience stores,” said Nadeem Khanzadah, Head of Omni-Channel Retail at Jumbo Group.

He added: “While a majority of consumers are keen to purchase online, we are also expecting to see the introduction of contactless retail checkouts and payments in the UAE. The launch of the Amazon Go store heralds a new era of growth in the retail sector – and has opened up a whole new opportunity for retailers hungry to employ the latest technology to enhance customer satisfaction, improve in-store efficiencies and drive up footfalls.”

Among the other growth trends Jumbo foresees this year are customisation of products such as the ‘build your own gaming computer’ as well as a significant focus on technologies such as Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR), due to increasing consumer demand for new experiences and sensory experiences.

Innovation and immersive experiences are at the forefront of consumer technology, and are some of the biggest factors impacting these latest trends. Demand for smartwatches, AR and VR products will continue to increase this year along with ultra-large televisions using OLED and QLED technologies as well as Smart TVs, owing to widespread availability of high-speed Internet in the UAE and the rest of the GCC region.

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About Jumbo Electronics Co. Ltd (LLC):
Established in 1974, Jumbo Electronics Co. Ltd. is UAE’s leading distributor and retailer for IT and consumer electronics. Since its inception, Jumbo has been the chief distributor of the iconic brand, Sony, in the UAE and Oman. Jumbo is also a trusted distribution and retail partner for many of the world's other leading brands including Acer, Apple, Asus, Alcatel, Blackberry, Brother, Casio, Daikin, Dell, Dyson, Gorenje, HP, HTC, Lava, Lenovo, LG, Motorola, Ricoh, Samsung, and Sennheiser. In addition, Jumbo offers quality, affordable consumer electronics from its private label brand, Supra. It has an extensive network of retail stores and service centres spread across the Emirates and a growing distribution and retail presence in Oman, Qatar, Bahrain and Kuwait.

Jumbo launched its innovative online shopping portal, www.jumbo.ae in November 2014, as an online extension of Jumbo’s brick-and-mortar network, showcasing the brand’s definitive retail expertise in local markets. The website features a number of never-before seen features in the region’s consumer electronics industry, including flexible delivery through the ‘Click & Collect’ service, Card-on-Delivery, 2-Click checkout, and other intuitive user experiences.

Jumbo’s Distribution SBU provides specialised services, including Mobility & Solutions for telecom and information technology sectors, as well as specialty consumer goods. The firm’s B2B business focuses on office automation products, managed services and ELV solutions.

Setting new benchmarks in customer service in the markets in which it operates, Jumbo offers uncompromising adherence to quality and unrivalled after-care through Jumbo Serve, its dedicated 70,000sq. ft. service center in Jebel Ali and 24/7 customer hotline 800 JUMBO.  

Over the years, Jumbo has evolved its flagship retail, distribution and trading businesses to offer services under diverse verticals such as Enterprise, Logistics, Engineering and Light Manufacturing. Through its multi-discipline approach, Jumbo enjoys a presence in core industries across regional markets, including hospitality, retail, construction, education, healthcare, oil and gas, and financial services.

© Press Release 2018

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