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How do you turn a large retail and property
enterprise into a technology business?
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Majid Al Futtaim’s biggest challenge and its
biggest advantage is its physical
infrastructure
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How do you take that infrastructure and
digitise it to allow it to be consumed both
internally and externally?
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MAF LABS
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Today
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MAF LABS is an agile, fast, lean team of
technologists compromising of Product,
Engineering and UX specialists that can
be dropped into projects across the
organisation
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Tomorrow
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MAF LABS will own and operate various
platforms, API services and will infuse a
technology based approach across
Majid Al Futtaim
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The Little-Bit-Further Future
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MAF LABS’ ultimate purpose is to turn
every major function at Majid Al Futtaim
into an API based service that can be
consumed both internally and externally
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Everything Must Change
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MAF LABS becomes the catalyst to evolve
Majid Al Futtaim from a provider of
physical retail infrastructure into a
technology business that provides
physical infrastructure as a service
(PIaaS)
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Projects >> Platforms & APIs >> PIaaS
Today >> Tomorrow >> Future
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MAF LABS
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Why PIaaS?
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Turn our biggest challenge into our
biggest opportunity. Digitise our physical
infrastructure as the ultimate offence in an
e-commerce world
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But merely digitising our infrastructure to
meet our own needs is not enough.
The real opportunity is to be the
provider of choice for everyone else
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An internal services approach ensures that
we’re always consuming our own services
building an automatic feedback loop that
results in the best external services
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Turning everything into an external service
allows others to access, learn and
contribute to our data and service set,
creating a robust competitive moat
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MAF LABS is what AWS is to Amazon
versus what Google X is to Google
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Examples
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Vox User Journey
(Platform Example)
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Improve user journey to increase yield and margin by allowing the
purchase of food and drink through all digital channels
Profile customers and learn their preferences to allow easy repeat
purchases
Recommendations based on what other customers purchased, type of
film, seasonality and what’s in stock
Improve physical user journey by creating pickup only counters to skip
the queue
Use digital channels to test new items, bundling and experiences
Use data to influence stock levels, new selection and pricing
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Vox Pricing Engine
(API Example)
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Drive better yields during slow and fast periods by working with
multiple price points
Ticket pricing will adjust based on a bunch of factors including
customer profile, location, time of day, weather, time of year, type of
film and popularity of film
Sell into new internal channels (e.g. cross listing THEATRE by Rhodes
with hotel experiences)
Sell through external channels such as third party booking engines
and new experiences, e.g. Cinema tickets with Google Maps
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Mall Checkout
(PIaaS Example)
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Check In to the mall on entry with your device
Create customer profiles, learn and know customer navigation and
purchase history
Checkout out at any outlet across the mall, or across malls
Create personalised recommendations, deals and other loyalty
opportunities
Provide direct consumer financing and other opportunities based on
profile, purchase history and other activity
Create an internal mall economy to kill external transaction costs and
batch process and net settle merchants
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Mall Dashboard for Tenants
(PIaaS Example)
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Mall Dashboard for Tenants = AWS Console for Amazon Web Services
Provide visitor data, performance data, checkout activity, returns
activity and repeat purchase rates
Provide competitor and category data as well as recommendations on
areas of improvement, e.g. stock levels
Provide global view of how tenant’s locations are performing versus
peers
Ability to bid on new or newly available locations
Real time bidding on digital advertising across all mall properties
Services for key channels such as Carrefour. E.g. cross listing,
advertising opportunities and sell through data
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Why, How, Who, When
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Why?
This is the future of physical retail
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How
Start by using best of breed platforms, ideally open source and knit
together internal platform and API offerings
Over time, replace third party platforms with internal technology built
specifically for our use cases
Owning and controlling the technology layer is a key differentiator and
will be the core of our competitive moat
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Approach
Pick one or two projects (e.g. Carrefour) that have the highest need
today
Allow the team to stay focused by not taking on too much at a time
Increase scope as resource availability increases and as approach
starts to show measurable results
Other initial functions include helping with technology identification
and roll out of devices, sensors and end user technology
Provide high level training and outlook
Assess M&A and investment opportunities
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Team
Product, Engineering and UX supported by Catalogue, Content,
Localisation and other functions. Add Data Science, ML and AI in the
near future
Team of 35+ available to hire immediately
Hire remotely as appropriate. Incredible talent that can propel progress
but may not want to move to Dubai. Aim for the best talent, regardless
of location
Strong existing experiences of environment, policy and tooling to allow
effective remote working
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Culture
MAF Labs should initially be at arms length and be allowed to create its
own sub culture that reflects that of a technology organisation
Not shorts and sandals, but open, collaborative, fast and commercially
focused using tools like Slack, GitHub and a host of others. Casual, but
not informal
Own set of core values that reflect Majid Al Futtaim but also embrace
the ethos of a technology business
Take the best parts of this new culture and eventually allow it to
permeate across Majid Al Futtaim
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Funding
Commitment of $Xm over three years
Internal capital to access the right people, technology platforms and
cover administrative costs
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Revenue Model
MAF LABS will initially be a cost centre but will derive a variety of
revenue models both internally and externally
Deployment and transaction based billing on platforms deployed
internally
Transaction and service consumption based billing on use of APIs both
internally and externally
Free tier to encourage use and lock-in
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Incentives
Equity or Phantom Equity (likely to be more palatable) to provide the
team with upside based on impact to the business
Measured through an increase in MAF LABS’ share price via revenue
booked and other measures
This is an important tool to create the right incentive culture and attract
the best talent to MAF LABS and therefore MAF