In a revolutionary development that could potentially redefine the global retail and e-commerce industries, Digital Mall of Asia (DMA), a first-of-its-kind digital e-commerce platform merging the real estate and the digital spaces, has announced the launch of its Noida mall. The launch took place at the company’s registered office in the Film City, Noida, setting an unprecedented example of how online portals and brick-and-mortar retailers can transcend the digital-physical divide to optimize their consumer outreach and revenue generation.
An initiative by Yokeasia Malls Pvt. Ltd., DMA is a disruptive innovation by an Indian organization recreating the experience of a physical mall in the digital space. In an industry where most of the key names are being run or backed by foreign players, this unique and disruptively innovative initiative by Yokeasia Malls has the potential to put the novelties of Digital India on the world map.
The Need
The launch of DMA Noida addresses the challenges that retailers often face and empowers them to maximize their business footprint with innovative digital offerings and an unmatched value proposition. DMA operates on a zero commission model; retailers at DMA don’t have to pay anything apart from the rent, a major revolution in a space where all the major E-commerce players charge somewhere between 5-35 percent of the revenue. Moreover, the organization will provide an immediate settlement of all payments received, ensuring complete transparency and reliability. It is also working towards completely eradicating the issue of the sale of counterfeit or fake merchandise. These unique features, apart from its focus on digital innovation, makes DMA a powerful and pioneering presence in the e-commerce space, both in India and on a global level.
The Solution
Going beyond the concept of a typical e-commerce portal, DMA’s Noida mall will have 11 towers with 10 floors each, adding up to a total of more than 5,000 shops and an available inventory currently worth approximately Rs 500 crore. The mall will incorporate visual and sensory elements to offer an immersive, stimulating environment and will have dedicated towers for different categories such as men, women, kids, electronics, home and kitchen, education, financial services, food court, hypermarket, digiplex, and online nightclub. Fundamentally, DMA Noida has all the elements that make up a physical mall, albeit virtually.
The Value Addition
By creating a new ‘digital asset’ class providing attractive returns, DMA also envisions to transform the general perception towards the term ‘investment’ while ensuring security, profit, and convenience for investors. The shops in the Noida mall are available for both sale (to investors) and rental (to retailers), whereas the shops in the rest of the 20 cities are available only to rent at present.
Commenting on the launch and the idea behind, Rishabh Mehra, Managing Director and CEO – Digital Mall of Asia, remarked, “We, at Digital Mall of Asia, are beyond ecstatic to launch our Noida mall and we are certain of its potential to bring about a revolution in the digital and retail space worldwide. This project is aimed at serving many purposes, from an industry-wide transformation to retailer empowerment through our zero-commission model. But most importantly, DMA is our effort against data colonization. I wholeheartedly agree with Mr Mukesh Ambani’s stance on how India’s data must be owned by Indians, and not controlled by global corporations. In this era of data-driven revolution, we hope that DMA’s disruptive innovation sets an example for our contemporaries to follow through and bring the ownership of Indian data back to where it belongs – in our own hands.”
The launch in Noida also marks DMA’s first step towards a pan-India launch in 20 cities including New Delhi, Mumbai, Bengaluru, Pune, Chandigarh, Jaipur, Lucknow, Coimbatore etc. After a pan-India expansion, DMA plans to expand its operations across the Asian market and has already begun the process of seller registration in China, Japan, South Korea, Malaysia, Thailand, Indonesia, and Singapore.
