Idealz is a trailblazer in the region. What inspired you to set up this unique shop-and-win platform?
It was evident that the world was, and still is, rapidly going digital. This presented significant opportunities in a lot of sectors. Many of the analog functions of our daily lives were turning digital at an unprecedented rate. I get asked this question often and my response remains the same: I wanted to make my mark in this massive digital movement happening in front of us. I wanted to build a scalable, defensible and profitable business that I can be proud of.

What have been the most important milestones that Idealz has achieved since 2016?
Since the establishment of Idealz in 2016, we have had a number of notable accomplishments that have firmly established us as leaders in the industry. With more than 7,000 winners and prizes exceeding AED 180,000,000 in value, Idealz has garnered participants from over 150 countries worldwide. This wide global reach reflects Idealz’s vision of becoming the preferred destination for shopping and winning both regionally and internationally. A milestone worth mentioning would be our exclusive partnership with Dubai Festivals and Retail Establishment. We entered into it in 2019, and it remains in effect.

What key factors do you believe were responsible for Idealz’s success? What do you envision for its evolution in the upcoming future?
The growth of various industries played a big role in fostering the startup ecosystem. Yet, the need to innovate remained a constant factor. In an intensely competitive market, innovation was and still is the key to sustaining a competitive advantage. Modern startups securing funding could no longer rely solely on dreams and mission statements; the reason why I prioritize sound unit economics and practical viability. We made sure from the outset that the business model was not only capable of generating positive unit economics but was also capable of scaling them to meaningful levels.

Transitioning from the finance industry, what aspects of e-commerce drew you in? What motivated your entry into this particular sector?
Over the past decade, the startup scene, particularly in the Middle East, has undergone substantial changes. When I established Idealz in 2016, the UAE and the broader region were immersed in a promising entrepreneurial atmosphere. Dubai’s ecosystem stands out on a global scale, excelling both professionally and personally. The emirate was perfect to give Idealz the best possible launching ground and the outcome couldn’t have been better. Dubai is progressively setting the global standard across various aspects, especially in the startup scene and it keeps proving that through the success of Idealz. When we talk about e-commerce specifically, the unit economics formula was and remains relatively simple, and barriers to entry were relatively low. It was an opportunity to enter the startup scene without having immense capital requirements.

What innovations do you see emerging in the e-commerce sector in the foreseeable future?
Innovations in the e-commerce sector are probably going to follow the innovations happening across the tech sector in general. This will include greater use of AI and AR. Shopping experiences will become more immersive allowing customers to get a better feel of the products they are buying such that returns and exchanges are minimized. I would also expect further advancements in payment, building on what Buy Now, Pay Later has done to the e-commerce sector. Logistics, which remains the analog function within the e-commerce formula, will also go through substantial innovations allowing for faster and more precise delivery on a global scale.

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