DeTA

What’s news?
IN4X Global introduces cryptocurrency payment solution in the Middle East (gulfbusiness.com)

Humour me more, please?
- iOWN wallet is cryptocurrency company IN4X Clobal’s new payment solution for Middle East
- The new platform seeks to “empower businesses to accept cryptocurrencies as an additional payment mode”
- The iOWN wallet also accepts the iOWN token, USDT, USDC, and various other cryptocurrencies

Why does it matter?
The crypto payment gateway enables speedy transactions at any bank in the world, with seamless and real-time tracking of orders and payments. Businesses also have the option for instantaneous cash to crypto conversions.

What’s in it for me?
If you believe that crypto is the future of business, you have reason to be happy. The use of cryptocurrency has been growing stronger “in terms of variety, acceptance, versatility, and knowledge”

Doukani.com Priya Komalavally Muralidharan IOWN Token

April 22, Top 5 e-commerce News this week

This week read how UAE is rethinking Concept Store.
A new cryptocurrency payment solution is introduced in the Middle East. Find out more.
And world’s biggest Arabic AI language processing model is launched in Abu Dhabi. Guess what it is called.

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What’s news?
Metaverse will not be a distraction for advertisers or brands, says ad guru Jon Cook | Business – Gulf News

Humour me more, please?
- In a recent interview, Jon Cook, global CEO at VMLY&R, said Metaverse won’t be a distraction for agencies who are at the top of the brand engagement game
- Cook added that in the last two years, more and more “people have flocked to virtual and gaming escapes such as Fortnite, Roblox, or Decentraland”
- With cost inflation likely to be a 2022 constant, Cook says that the brands “who make big moves and statements while others sit out the inflation chaos” will win

Why does it matter?
Metaverse is said to have changed the game of advertising and agencies are now trying to tap into the potential that the Metaverse has. These are interesting times for the ad marketing sector.

What’s in it for me?
You stand to benefit as a consumer when all players in the market are trying up the standard of the game.

What’s news?
Kuwait ranks third among GCC states in personal well-being - ARAB TIMES - KUWAIT NEWS (arabtimesonline.com)

Humour me more, please?
- Kuwait comes third among the GCC countries in terms of personal well-being
- The ranking is based on the 35% growth that Kuwait’s luxury goods market saw in 2021. It is the highest growth in the Gulf region for 2021
- UAE and Saudi Arabia come first and second in the list respectively
- The Gulf’s personal luxury goods market is expected to reach $11 billion in 2023

Why does it matter?
A report issued by the Chalhoub Group, a luxury goods retailer and distributor in the UAE, and the Fashion Authority goes to show that the luxury goods market in the Gulf showed an early recovery post-pandemic. And several factors have contributed to the rising curve: growth of domestic spending, return of international tourists, entry of new categories of consumers in the luxury sector and innovations in products.

What’s in it for me?
Not a ray but a flame of hope that things are finally looking up. Though travel restrictions have been eased, you must not forget that during the first few waves of the pandemic in 2020 and 2021, the domestic buyer kept the luxury goods business from drying up. The inward spending has been a game-changer.