24SEVEN launches in UAE to serve booming USD 37bn grocery retail market

As part of its vision to empower local grocery and retail store businesses with convenience and accessibility through groundbreaking and best-in-class technology, 24SEVEN, Pakistan’s leading grocery technology and community commerce platform has announced today, the expansion and launch of its business and operations in the UAE.

24SEVEN is a pioneer in community commerce in its native Pakistan and currently serves more than 6,500 grocery businesses and 1.2million customers every day. 24SEVEN builds relationships with baqala and grocery stores through community commerce, enabling digital solutions that serve customers more effectively. The business will operate as 24SEVEN Optima and in line with its growth strategy is proud to announce the opening of its new regional headquarters in Dubai. The business is also hiring for key business development roles and candidates can find out more at 24SEVEN.ae. This pivotal entry into the UAE is the first step in its GCC expansion plans, now serving grocery store owners and operators across 10 cities in the MENAP region.

On the occasion of 24SEVEN’s UAE launch, Co-Founder and CEO Jarrar Shah commented, “The UAE retail market is one of the most thriving sectors and with a focus on digital transformation and innovation across the economy, there is a very promising and lucrative outlook for grocery retail technology businesses in the region. With our expertise in this field along with best-in-class technology, we embark on an exciting journey to launch our business and introduce digital retail solutions and fintech services, to support owners and operators of small and medium grocery stores all over the UAE”.

He added; “With our trusted, multi-function handheld POS device, 360-degree retail management system and cost-effective software solutions, we serve thousands of businesses and more than 1.2million customers daily. The time is ideal now to leverage our expertise, expand our presence and support grocery stores to overcome their everyday challenges. We are excited to grow our UAE-based team who will provide friendly, 24/7 support to baqalas and grocery store owners.”

In line with the vision of UAE to strengthen the digital transformation of the retail sector, 24SEVEN Optima is designed to support UAE grocery stores and baqalas. It is a personalized, ever-improving all-in-one solution spanning point-of-sale (POS) software and hardware, as well as a range of end-to-end proprietary management systems that enable store operators to easily manage their physical retail stores and enable ecommerce capabilities. The UAE food and grocery retail segment is currently valued at USD 37 billion, but store owners operate on razor thin margins. Therefore, technology that can provide efficiencies and maximize profitability are essential.

Its dedicated on-ground UAE team will provide guidance, support and knowledge to ensure optimized operations, maximized sales and unparalleled customer support. 24SEVEN Optima, with its regional team of 300 specialized experts in the field, will be headed by Jarrar Shah, Co-Founder and CEO of 24SEVEN.

24SEVEN provides digitized point-of-sale solutions to help handle transactions, manage inventory and track sales. It has an extensive background of supporting grocery businesses, enabling higher sales, better cash flow, more efficient supplier reordering and interactions, fewer stock outages, increased loyalty and footfall, and ecommerce enablement, ultimately improving the bottom line. During 2022, the average order value (AOV) for grocery businesses using the group’s proprietary technology increased by 840% and stock availability improved across all SKUs from 68% to 98%. Additionally, its digital payment solutions can integrate with financial institutions and empower credit scoring at the point-of-sale, enabling access to a helpful source of micro credit to baqala owners and their customers.

24SEVEN was founded in 2016 in Pakistan and is a leading B2B2C grocery technology and community commerce business. The Group operations include multiple brands, including Apni Dukan, WholeMart, 24SEVEN Fresh, and SHAAF Drinking Water.  The company has received strong backing, including a June 2022 Pre-Series A raise of USD 6 million, from prominent investors including SOSV, Betatron Venture Group, Newlin VC, Verity Capital, and Argo’s Quest.

Last Updated on 1 year by News Desk 1