IOU | Global Digital E-Commerce Trends
The global eCommerce
market has demonstrated explosive growth in the past couple of years and its
future is expected to be booming. In 2017, the global e-retail sales amounted
to 2.3 trillion U.S. dollars and projections show a growth of up to 4.48 trillion
U.S. dollars by 2021. This astonishing growth is primarily being driven by
consumers using their mobile devices to acquire goods and services. In this
ultra-competitive environment, finding and acquiring new customers can be a
huge challenge for merchants. In addition, 53% of adults living in high-income
households claim to be willing to switch brands for the sake of using a coupon.
The challenges for
players in this giant market are key, including customer loyalty, achieving
profitable long-term growth, and choosing the right technology and partners,
among others. At the same time, the tremendous evolution of blockchain
technology is radically changing the way many markets operate. Important USPs
of blockchain like transparency, coherence, cost-effectiveness and effective
integration with processes at all levels of the business can bring to the
e-commerce market endless opportunities. Now, imagine the explosive combination
of e-commerce, blockchain technology, and cryptocurrencies: the IOU Platform, a
true P2P e-commerce loyalty platform on the blockchain.
The e-commerce market is
a global giant. For private consumers around the globe, the most well-known
form of e-commerce falls into the business to consumer (B2C) category, which
includes online retail or online shopping. In 2017, an estimated 1.66 billion
people worldwide purchased goods online. In recent years, mobile shopping has
been on the rise, with customers increasingly using their mobile devices for
various online shopping activities. According to a March 2016 study regarding
mobile shopping penetration worldwide, 46 percent of internet users in the Asia
Pacific region and 28 percent of those in North America had purchased products
via a mobile device, whether smartphone or tablet computer.
Worldwide, e-commerce
growth is primarily being driven by consumers using their mobile devices,
phones and tablets, to acquire goods and services. According to eMarketer
estimates, retail e-commerce sales reached $2.3 trillion in 2017, a 23.2
percent increase over the previous year. The mobile share of this stood at 58.9
percent, or $1.4 trillion. In 2021, mobile e-commerce could rake in some $3.5
trillion and then make up almost three quarters (72.9 percent) of e-commerce
sales.
Finding and acquiring new
customers can be a huge challenge. The reasons can be many, but the customer
loyalty stats don’t lie: it’s roughly 500% more expensive to convert new ones
than to keep current customers. An interesting finding: 53% of adults living in
high-income households are willing to switch brands for the sake of using a
coupon7 . This leads us to a major issue: the challenges that e-commerce faces.
In the era of internet,
e-commerce is the king. However, this exponentially growing market faces some
serious challenges. It is a key issue as it takes lots of efforts for companies
to make a new customer and maintain the same customer for long time. Increasing
sales is one way to grow the business but in the end, what matters most is
profitability. Some online retailers may face growth challenges because their
technology is limiting them, or they’ve hired the wrong partners/agencies to
help them manage their projects.
Groupon, a true success
story of pre Blockchain era, has taken advantage of the collective buying power
of its users to offer deep discounts for services and products. The business
model is a combination of coupon discounts and group buying. Coupon discounts
and group buying are old concepts which date back to the late 19th century and
early 20th century, respectively. In 1887, Asa Candler, a partner with the
Coca-Cola Company, was the first to utilize coupon discounts as an
advertisement strategy. Candler made use of various avenues such as magazines,
mail, employees and sales representatives to distribute complimentary coupons
to potential customers.
Groupon backbone of
success has been its strong partnership that it created with local businesses
breaking into new markets by researching the local market and identifying
successful local businesses which are approached by the Groupon sales
personnel. Groupon is best suited for high fixed cost businesses and business
where the customer acquisition cost is very high and businesses have to
advertise a lot and their deals offer them a channel to reach out a target
consumer based in the local market without paying any upfront fees. Groupon is
also best suited for businesses thriving on repeat customers such as spas and
restaurants.
With blockchain, we can
imagine a world in which contracts are embedded in digital code and stored in
transparent, shared databases, where they are protected from deletion,
tampering, and revision. In this world every agreement, every process, every
task, and every payment would have a digital record and signature that could be
identified, validated, stored, and shared. Intermediaries like lawyers,
brokers, and bankers might no longer be necessary. Individuals, organizations,
machines, and algorithms would freely transact and interact with one another
with little friction. This is the immense potential of blockchain. Blockchain
technology is taking over the world and disrupts the way many segments work. In
2017, the global blockchain technology market was predicted to reach 339.5
million U.S. dollars in size and is forecast to grow to 2.3 billion U.S.
dollars by 2021.
In addition, rising
importance and adoption of blockchain for communication service providers,
transformation of international trade and supply chain management, new breed
for programmable blockchain platforms, and high adoption of blockchain for
payments, smart contracts, and digital identities would create opportunities
for the growth of this market. Many corporate giants like IBM, Oracle are
already using blockchain technology, while it is increasingly being tested or
used by companies such as Wal-Mart Stores Inc. and Visa Inc. to streamline
supply chain, speed up payments and store records.
Blockchain ecommerce
seems to be the word of the year; well, more like for the years to follow too.
The early developments in the application of Blockchain and the proliferation
in its adoption says a lot about its future and how it could shape the world of
ecommerce. Alibaba, the ecommerce giant, is investing heavily into blockchain
to track genuine food products and verify the authenticity of the items.
Transparency, coherence, cost-effectiveness and effective integration with
business processes at all levels of the business are just a few USPs of
blockchain. Irrespective of the size of a business, (gradually) combining the
strengths of blockchain with an e-commerce business can present endless
opportunities.
Now, imagine the
explosive combination of e-commerce with blockchain technology and
cryptocurrencies: the IOU Platform. It aims at empowering blockchain Merchants
and Consumers with decentralized and secure Peer-to-Peer technology driving
customer satisfaction and loyalty through Merchant’s trade-able IOUs. IOU
reinvents existing loyalty systems in order to provide more flexibility,
control, and enhanced benefits for Merchants in order to guarantee the highest
possible level of consumer satisfaction for the incurred marketing
expenditures. OU Peer-to-Peer (P2P) platform providing new opportunities for
each Merchant (Business Merchant) in the world with regard to loyalty system
organization, interaction with consumers, investment attraction, and revenue
growth by the means of issuing its own freely tradable IOUs (IOU
Crypto-Obligations / “IOU-CO”).
IOU offers complete
transparency utilizing Blockchain for its Group Loyalty offers with clear
visibility, security, speed of processing and traceability of transactions
through the decentralized register of all sources. IOU is Offering Merchants
and Consumers clear advantages over the traditional e-commerce environment
making transactions Cost-Effective and Secure while building ultimate trust
between Merchants and Consumers. Rating mechanism would boost a trust even
further. Not only consumers would feel secure and get significant savings but
also, they could use their purchased IOUs as actual monetary assets which they
will be able to trade with other consumers or sell on the exchange. This is a
tremendous benefit of IOU Platform.
With existing advertising
systems becoming less and less effective, the IOU Platform presents the
ultimate solution. IOU offers complete transparency utilizing Blockchain for
its Group Loyalty offers with clear visibility, security, speed of processing
and traceability of transactions through the decentralized register of all
sources. IOU is Offering Merchants and Consumers clear advantages over the
traditional e-commerce environment making transactions Cost-Effective and
Secure while building ultimate trust between Merchants and Consumers.
IOU is launching a
promising Initial Coin Offering (ICO) campaign and a utility token IOUX. The
token IOUX is expected to be utilized in many ways. Merchants must pay 5% Gas
fee in IOUX Tokens for every IOU offer issued for Consumers (in addition to the
5% Fee on any purchases made by other cryptocurrencies, while purchases made by
IOUX Tokens would be exempt). In exchange, to provide incentives for the IOUX
Token holders, every IOUX Token transaction would be granted an additional 5%
Discount to the Consumers. Additional 10 Loyalty Tokens would be given equally
each time to both Merchants and Consumers after accumulating transactions of
1,000 Tokens.
Allocated for ICO and
Private Sale. Company will burn unsold tokens and use 20% of e-commerce
transaction fees on buy-back program to quarterly acquire IOUX tokens from
listed exchanges and burn those re-purchased tokens. OUX Tokens will be
distributed based on the whitelisting-priority model. The ICO whitelisting
process will start after the private institutional sale. PRE-ICO: IOUX Tokens
will be distributed based on the whitelisting-priority model. The pre-ICO
whitelisting process will take 2 weeks after which Tokens will be offered for
sale during 1 Day of Pre-ICO sale to registered individuals/entities which were
approved during the whitelisting process. ICO: IOUX Tokens will be distributed
based on the whitelisting-priority model. The ICO whitelisting process will
take 6-8 weeks after which Tokens will be offered for sale during 1-3 Days of
ICO sale to registered individuals/entities which were approved during the
whitelisting process.
For More Information :
Address : 0xAE18710541a08b252C0f4d5D99aE420b43eB4cac
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