Total 430 words used.
1. What problem are you trying to solve?
We are solving 2 problems: 1. In the UAE, there is no standard pricing for branded products. An iPhone might be priced at AED 2500 on Noon.com, AED 3000 at Amazon.ae or AED 2750 at Sharafdg.com. This extends to groceries and flights as well. We help users by presenting them with price comparison options so that they can choose the best prices every time. 2. Shoppers are regularly bombarded with deals, offers, promotions and discounts from multiple brands and stores. This makes it difficult or more time consuming to find out the right prices for buying what they need/want. Chum helps tune out the noise by grouping them all (Price comparison, Vouchers, Offers) in 1 app.
2. Describe your product or service.
Chum is UAE’s go-to price comparison app. We compare prices of millions of products within UAE including electronics, fashion, grocery; even flights and hotels, all under one roof to give our users an ultimate shopping experience.
We are the only AI enabled multi-vertical price comparison app and website in the region.
Apart from comparing prices of millions of products on Chum app/website, here are some value added features on the app. Users can: - Set price alert for Bazaar and Travel to stay updated with price drops - Save desired products to their wishlist and shop anytime - Compare cart prices across different supermarkets - Choose to order from multiple supermarkets - Access latest deals on leading brands
3. What inspired you to start your business?
1. Personal Experience: Shopping at the best prices can be extremely time consuming and these days, every retailer boasts of best prices, and offers and promotions round the year. It gets difficult to skim through and get to the actual best prices. We want to save the time and money for users. 2. Expertise in building and running teams combined with Global success of similar startups: The co-founders are seasoned businessmen, having run startup and family businesses previously, we are confident we can efficiently and effectively grow Chum to follow its global peers like Pricerunner.com (UK's Billion dollar startup)
4. Describe your target market and how you plan to engage with it.
Our target market is mainly online shoppers (who shop for products, groceries, travel bookings online) in the GCC region (starting with UAE). Our acquisition strategy revolve around SEO, Ads (Google and FB), Social media (Influencer, organic posts, engaging content, UGC) and Referrals (word of mouth) So far, we have acquired 93000 downloads at a CPI < $0.7
Nomination Title: Chum (UAE's go to price comparison app)
