Idealz CEO Jad Toubayly plans to focus on expanding the company internationally and boosting its offerings with new prize categories like experiences in 2024. “We’ve developed a very comprehensive franchise development pack that is being implemented in a number of countries as we speak,” he revealed in a recent interview on AB in Focus.
The company currently has franchises in a few countries and is in various stages of development in markets like India, Pakistan, Egypt, Saudi Arabia, and the United Kingdom. Toubayly, who is also the founder, noted that “experiences are something we haven’t done in the past” but they plan to focus more on experiences as prizes in 2024. “Experiences offer us quite a dynamic spectrum so you can tailor them to an endless extreme,” he noted.
The Dubai-based e-commerce company has seen its “shop to win” model garner a great deal of traction throughout 2023, with Toubayly reporting major growth across key metrics, including increased revenue, customer base, campaigns launched, prizes awarded, and products sold.
“We crossed the early growth mark in early [November] and we plan on continuing with this nice inflection we’ve seen into 2024,” he said.
As the innovator and visionary behind Idealz, Toubayly drew on his disruptive thinking to create the shop-and-win formula revolutionizing online retail, and stray away from the traditional e-commerce formula which has been used by retailers since the inception of online shopping.
“We tweaked the incentive formula to make the shop-and-win formula that you see today and it’s been working very well for us.”
He believes continuing to offer new prize options will sustain strong customer demand and fuel Idealz’s continued growth internationally.
While staying ahead of the curve is “always a challenge,” Toubayly believes that “luckily, the world is always offering new things to the consumer, so we always find these new things that tend to have a lot of demand and re-package them into one of our many campaigns.”
“As long as that keeps on happening, we should always have a nice supply of future campaigns for our customers.”
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