Founder Mohamed Alabbar said Noon was one of the most aggressive and dangerous brands in the e-commerce sector
Noon, an e-commerce portal backed by Dubai billionaire Mohamed Alabbar and Saudi Arabia’s sovereign fund Public Investment Fund (PIF), is aiming to attract 25 million unique shoppers as part of its next ‘Yellow Friday’ sales push, which will this year run for a week at the end of November.
Last year, Yellow Friday ran from Tuesday, November 20 until Saturday, November 24 and included discounts of up to 80 percent across a wide range of products, from technology and gadgets to clothes and accessories.
“We expect the traffic from our platform to increase exponentially and this year during the event we are planning for over 25 million unique visitors on our website and app,” a Noon.com spokesperson said on stage at a company event at the Armani Hotel in Burj Khalifa on Sunday.
At the showcase for the portal’s sellers, it was announced ‘Yellow Friday’ 2019 will run for a week from Sunday, November 24 to Saturday, November 30 and will be backed by a massive international marketing campaign.
“Our team has prepared a solid 360 marketing campaign. To begin with, an entire digital marketing takeover. There is going to be yellow everywhere, every site you go to, everywhere, any app you use, everywhere is going to be Yellow Friday. We are going to have outdoor ads in prime locations across all countries, partnerships with key local influencers, as well as strategic tie-ups with top media channels,” the Noon executive said on stage.
As part of the presentation, it was revealed that Noon.com’s revenue increased eight fold during Yellow Friday 2018, while the conversion rate on the portal and app doubled. The number of items purchased per basket rose 50 percent and the time shoppers spent browsing for items also increased three fold compared to normal.
Noon.com was launched in the UAE on September 2017, followed by expansion into Saudi Arabia three months later and Egypt in February this year.
Founder Mohamed Alabbar, who is also the chairman of Emaar, the developer behind Burj Khalifa and The Dubai Mall, told Arabian Business in November 2018 the e-commerce giant plans to float on the stock market in a global cross-listing within the next four to five years.
“This is an Arab company and the customers should enjoy the benefits, they should also have the chance to become shareholders. Listing the company is the least we can do,” he said in an interview.
Speaking at Sunday’s event, Alabbar said Noon was a young and small company at the moment but it was one of the most aggressive and dangerous brands in the competitive e-commerce sector.
“I want you to know one thing, we are young, we are small, but we are the most aggressive organisation born and I want you to know that… In this business, if you are not fast, if you are not aggressive or working 24 hours, working 7 days a week you don’t win… Probably one of the most dangerous companies in the e-commerce space is Noon… They are small but they are dangerous people,” he said in a speech on stage.