Wassim Makarem, VP of Q-Commerce at talabat, says the company has 20 talabat marts across the UAE, operating in Abu Dhabi, Dubai, Al Ain, Sharjah, Ras Al Khaimah and Ajman, and 52 across the region. Image: supplied
Wassim Makarem, VP of Q-Commerce at talabat, says the company has 20 talabat marts across the UAE, operating in Abu Dhabi, Dubai, Al Ain, Sharjah, Ras Al Khaimah and Ajman, and 52 across the region. Image: supplied
Wassim Makarem, VP of Q-Commerce at talabat, says the company has 20 talabat marts across the UAE, operating in Abu Dhabi, Dubai, Al Ain, Sharjah, Ras Al Khaimah and Ajman, and 52 across the region. Image: supplied
Wassim Makarem, VP of Q-Commerce at talabat, says the company has 20 talabat marts across the UAE, operating in Abu Dhabi, Dubai, Al Ain, Sharjah, Ras Al Khaimah and Ajman, and 52 across the region. I

From e-commerce to q-commerce: The rise of the 30 minutes or less delivery


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In the late 20th century, and early 21st, traditional e-commerce revolutionised the delivery landscape through online ordering. As we are all familiar with, as consumers, we can order our goods online, and have them delivered in many cases within a week, and in some cases, overnight delivery.

E-Commerce is famous for using delivery trucks and mega warehouses to host a wide selection of the products, so that they can offer the convenience of home-delivery to consumers.

q-commerce allows our riders to deliver goods to customers almost instantly, by working between a network of small centralised hubs that are strategically placed in different areas of cities where we operate

However, here at talabat, we understood consumers wanted to be able to order grocery items faster, i.e. in 30 minutes or less. Therefore, we launched talabat mart, our q-commerce solution, within our app in the UAE in March last year, just before the pandemic, after a successful launch in Kuwait in 2019.

We now have 20 talabat marts across the UAE, operating in Abu Dhabi, Dubai, Al Ain, Sharjah, Ras Al Khaimah and Ajman, and 52 across the region.

In essence, q-commerce allows our riders to deliver goods to customers almost instantly, by working between a network of small centralised hubs that are strategically placed in different areas of cities where we operate. Through creating the value of speed, and at the same price point as a more traditional option, customers are understanding that it is the smart choice.

Image: supplied
Image: supplied

When you look more into the smart choice element - the fact that talabat helped to ensure people stayed safe and home during the pandemic, and as life is returning to a higher sense of normality here in the UAE, with more and more citizens and residents enjoying the benefits of vaccination from COVID-19, it has had a lasting impact, you can see why consumers now expect speed and effortless ordering.

Our data shows that in these areas, we are delivering. Over 60% of our deliveries with talabat mart are below 20 minutes - well below our 30 minute aim, with the quickest delivery time of 7 minutes! If we think how long it takes to go down to leave home, go down the lift, get the kids in the car, and out of the parking building - that’s already 20 minutes! It’s easy to see how this convenience adds time back to many people’s lives!

We also have a lot of other interesting data points! Since the start of the pandemic we have sold in excess of 70,000kgs of oranges, as people look toward more immunity boosting ingredients, and in Q3 of 2020 we have also sold over 50,000 boxes of nappies - definitely something that many parents might need in 30 mins or less! Groceries are just the beginning at talabat mart - we are exploring expanding our q-commerce offering to electronic gadgets, sports equipment, beauty products and much more in the near future.

Since the start of the pandemic we have sold in excess of 70,000kgs of oranges, as people look toward more immunity boosting ingredients, and we have also sold over 50,000 boxes of nappies - definitely something that many parents might need in 30 mins or less!

To make all of this happen, we are relying on our innovative platform, the strong fleet we have built over the years and the massive local investments in technology we made to be the fastest and the most reliable option in the market.

Apart from the dedicated delivery-only hubs, to enable non-grocery offerings traditional stores will be added to the mix. What is great about Q-commerce is that it enables local SMEs to ship directly from their stores without the need to ship their products to central warehouses. A rider will show up, pick up a product from the local SME and deliver it directly to customers - presenting a win-win scenario for both local SMEs and nearby customers.

Hopefully I've convinced you to be part of the next generation of q-commerce users. If so, open your talabat app, and experience talabat Mart in the groceries section, today!

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Fixtures

Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am

Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am

Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am

Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight

Charlotte Gainsbourg

Rest

(Because Music)

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Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Company%20profile
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Stree

Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5