Saturday, Sep 21, 2019 | Last Update : 10:03 AM IST

Digital Mall of Asia set to fix problem of fake products in e-commerce

THE ASIAN AGE
Published : Aug 19, 2019, 5:26 pm IST
Updated : Aug 19, 2019, 5:26 pm IST

The mall will have all the entities that make up a physical mall, thereby recreating one virtually.

DMA is in its initial phase and its ecosystem will be operational in 20 cities in India and 8 countries across the continent by the year 2021.
 DMA is in its initial phase and its ecosystem will be operational in 20 cities in India and 8 countries across the continent by the year 2021.

Digital Mall of Asia (DMA) is the first-of-its-kind digital e-commerce platform merging the real estate and the digital space. An initiative by Yokeasia Malls Private Limited, DMA is in its initial phase and its ecosystem will be operational in 20 cities in India and 8 countries across the continent by the year 2021. DMA is a unique customer-oriented concept that is set to transform people’s perception towards ‘e-commerce’ and ‘commercial real estate’.

While the term ‘digital mall’ has previously been used in the context of a physical mall exclusively selling electronic items, DMA aims to redefine the term. DMA is not just a typical e-commerce portal meant for shopping online—it will house exclusive towers of digital retail shops, trial rooms, hyper market, electronics, education, financial services, food courts, multiplexes, night clubs, and much more. It will have all the entities that make up a physical mall, thereby recreating one virtually. Therefore, a user would feel as if they are inside a virtual mall when they would visit the website, thanks to a simulated environment incorporating visual and sensory elements. DMA has collaborated with Robosoft Technologies for its robust, scalable and reliable development and maintenance and is looking forward to incorporating modern-day technological tools like Augmented Reality (AR) into its mechanism for an enhanced user experience.

In this increasingly digital world, it has become imperative for vendors and retailers of any size to have a digital presence. With DMA’s zero-commission based model, they can rent a shop in their desired city, tower and floor. This will not just grant them the opportunity to integrate their offline store to their e-commerce portal but will also grant them the exclusive rights to sell a particular product category or brand in their respective city. With such offerings, DMA is set to become the solution for the challenges in the supplier segment and retain the fundamental objective of a fair marketplace.

Not just for the digital users, vendors and retailers, DMA will revolutionize the general outlook towards the term ‘investment’. It has created a new asset class for investment that offers safe investment with attractive returns.It is doing this through the sale and purchase of the now widely accepted mode termed as a ‘digital asset’, wherein the investors getattractive monthly rental on the same. Through such measures, DMA ensures easy and secure investment.

Aiming to recreate the experience of physical malls online, DMA’s portal will operate in 20 Indian cities including New Delhi, Mumbai, Bengaluru, Hyderabad, Pune, Chandigarh, Noida, Gurugram and Jaipur, to name a few. Further, it will be operational in 8 countries across Asia, namely India, China, Japan, South Korea, Singapore, Malaysia, Thailand and Indonesia. In spite of being a part of the same portal, each location will have a different virtual mall catering to its respective audiences.

Tags: digital mall of asia