“Know your market”- CEO of Mumzworld
Mona Ataya, CEO, Mumzworld which has recently finished a year of operations tells Kipp on the importance of understanding your market and her greatest challenges this past year.
November 29, 2012 9:08 by Eva Fernandes
What is the greatest challenge you faced when setting up Mumzworld?
- As with any online business the functionality and reliability of our site is of the utmost importance. Maintaining and upgrading the site is also where our greatest challenge lies, not just in the start-up phase, but on a daily basis. Even just a few hours offline can lose us thousands of dollars worth of business and affect our credibility in the marketplace. For this reason, the time and investment we have made into our site, from day one, has been a top priority. We have hired a team of experts to ensure that every function runs smoothly and that the digital technology we employ is not only the most advanced there is available, but also that it is reliable and secure.
How has the landscape of online retail changed in the UAE?
- The e-commerce scene has experienced phenomenal growth and developments in recent years. According to a recent report by IMRG International, the industry association for global e-retailing, e-commerce and e-business are crucial drivers for both the world and regional economy, growing around 20 percent per annum. In the UAE revenues generated through e-commerce in 2011 totalled more than $2.8 billion. Internet penetrations rates in the GCC have also grown a staggering 1,500 percent since 2000, from a mere 1.2million back then to more than 19 million people today. As more people shop online and become familiar with the internet as a resource, expectations also change. Consumers expect faster delivery times, an easy returns policy and quality products at competitive prices.
What do entrepreneurs need from the local SME ecosystem?
- According to Dubai SME, the SME sector of Dubai comprises 95% of the businesses, 42% of the workforce and contributes to 40% of value add to the Dubai economy. They are the backbone of the economy. Continued support is needed for new and existing SMEs in the UAE to encourage further growth in this vital and fast growing sector.
As Mumzworld turns one, what is the most important lesson you have learned?
- Trust is critical to build a brand that has credibility, earns customer loyalty and will continue to grow in the future. Our research shows that shoppers consider customer service and the security of shopping online as key elements of importance. We have been determined from the very start to put the needs of our customers first, going above and beyond to source one-off products for customers, carrying out personal follow ups to ensure a delivery is made on time, and helping many a time-poor new mother navigate the many choices she has to find the perfect product for her new-born baby.
One piece of advice you would give a budding webpreneur?
- Know your market. As a mother of three children, everything that we stock on Mumzworld is something that I would consider buying. This has ensured that our product selection consists of the widest range of global best selling and award winning products, as well as exclusive products not found in any other store in the region. As a mother I also understand the frustrations other time-poor mothers face.