Naira and Karim Farouk earned Dh1,000 by doing 20 to 30 tasks over the course of a weekend. The smartphone app TaskSpotting allows users to make Dh20 to 100 by performing mystery shopping errands and completing surveys. Jeffrey E Biteng / The National
Naira and Karim Farouk earned Dh1,000 by doing 20 to 30 tasks over the course of a weekend. The smartphone app TaskSpotting allows users to make Dh20 to 100 by performing mystery shopping errands and Show more

New TaskSpotting app that pays users attracting thousands in Emirates



We’ve all grumbled about that sales representative who walks up to us in the supermarket, a long questionnaire and a pen in hand, looking for consumer feedback for a brand. But what if that pen and survey sheet are replaced with an uncomplicated smartphone app that sends your honest response to the brand in real time and pays you for your efforts?

The Dubai-based entrepreneur Karim Aly had his finger on the pulse when he launched TaskSpotting at ArabNet last month. It has already got more than 2,000 residents volunteering their time to complete marketing-related missions around the Emirates for about 60 companies that have partnered with the venture.

Persistent app users have a lot to gain. The Dubai-based husband and wife Karim and Naiera Farouk made Dh1,000 by completing between 10 and 15 tasks each over the course of one weekend.

“Most of them were car mystery shopping missions,” says Karim, who is from Egypt. “We had to go to car showrooms, mostly on Sheikh Zayed Road, and pretend to be in the market for one of their cars. We asked simple questions, such as the price and current promotions, and fed the information into the app. It would take a few minutes and then we would move on to the next one.”

Karim, 29, adds: “It’s a fun and easy way of making some extra money.”

The app can be downloaded for Android and iPhone, after which you enter personal information to create an account and receive task updates based on proximity, tracked by GPS.

Aly says the app was born out of the need to fill a gap in obtaining accurate market research in a timely fashion. “It dawned on me that we can build a platform where consumers provide market information to businesses and be rewarded for it in cash.

“We have just replaced the archaic model of gathering market information with a more efficient crowdsourcing model.”

The start-up has partnered with consumer-goods retailers, restaurants and automobile companies to design three essential tasks for now. A popular task is collating retail information about a brand in various supermarkets, sending feedback about the product placement and pricing. Consumers are given the mystery-shopping mission and then collect competitor intelligence.

Aly calls it the “Three Fs” gratification system for users. “There is fortune: every mission has a cash reward. Then there is fulfilment: people often want to share their experience, good and bad. We allow direct feedback. And fame: there is a point system and privileges for people who accumulate more points.”

A “spotter” can earn from Dh10 to Dh75 per task, based on the complexity. Experienced spotters can unlock advantages, such as wbeing able to accept simultaneous missions and receive premiums of up to 50 per cent on the base amount of the task. Participants can receive their money from PayPal or via UAE Exchange – or they can donate their earnings to Noor Dubai, a charity for the treatment of blindness and vision problems.

One Abu Dhabi-based user, Essa Al Tayeb, donates the cash that he earns.

“I think it is a genius app,” says the 35-year-old Emirati. “It is an advanced take on gathering market intelligence in an efficient manner, while providing an incentive for feedback.”

Al Tayeb has completed six tasks so far and donated about Dh200 to Noor Dubai.

His recent assignment was to gauge the effectiveness of the Eid promotion in supermarkets for the chocolate brand Mars.

“It is very convenient. It is a step-by-step process, so you aren’t overwhelmed with information all at once. You complete a step and move on to the next. If you get distracted during the tasks, it pauses and you can continue where you left off in your own time.”

Al Tayeb was also treated to a free meal at the fast-food outlet Al Farooj, while earning an extra Dh25 for his evaluation of the quality and service.

Naiera Farouk says that they never had to go out of their way to complete any mission. “You can check missions that are close by on the map and how much they pay,” she explains. “So if you are driving to Sharjah, you can list all the missions and check them out before you head over.”

The app also sends notifications about tasks in the vicinity.

“When we had queries, we contacted the TaskSpotting team through the app and received a response immediately, allowing us to complete the mission in the time allocated.”

Aly says that there is an aggressive expansion plan for the app, starting with Saudi Arabia and Egypt, in the coming months.

• For more information, visit taskspotting.com. Follow it on Twitter @TaskSpotting

aahmed@thenational.ae

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

FIGHT CARD

Welterweight Mostafa Radi (PAL) v Tohir Zhuraev (TJK)

Catchweight 75kg Leandro Martins (BRA) v Anas Siraj Mounir (MAR)

Flyweight Corinne Laframboise (CAN) v Manon Fiorot (FRA)

Featherweight Ahmed Al Darmaki (UAE) v Bogdan Kirilenko (UZB)

Lightweight Izzedine Al Derabani (JOR) v Atabek Abdimitalipov (KYG)

Featherweight Yousef Al Housani (UAE) v Mohamed Arsharq Ali (SLA)

Catchweight 69kg Jung Han-gook (KOR) v Elias Boudegzdame (ALG)

Catchweight 71kg Usman Nurmagomedov (RUS) v Jerry Kvarnstrom (FIN)

Featherweight title Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

Lightweight title Bruno Machado (BRA) v Mike Santiago (USA)