Online retail space disrupter Shopin has announced a major partnership with cryptocurrency trading exchange QUOINE, one of the largest exchanges in Asia, on their QRYPTOS platform.
QRYPTOS is currently holding a mini-ICO from August 8-28, 2018, designed exclusively to offer 23,500,000 SHOPIN tokens in public sale at $0.16 USD introductory cost.
The minimum purchase to participate in the ICO is 1 SHOPIN. Bonuses are being offered at rates of 30%, 20%, and 10% for phases one through three, respectively.
The Market
This partnership is exciting news for online retailers and shoppers everywhere. Online retail, an industry that has exploded over the past 5-10 years, is poised for massive improvements to organization, structure, and process. There is a legitimate reason for this need for change, as the industry has grown from approximately $1.3 billion in 2014 to over $2.3 trillion in 2018. That level of exponential growth demands change.
Online retailers are also seeing major changes to the way their customers conduct business. With desktop systems still the top platform from which to make an online retail purchase, mobile devices are quickly catching up.
Specific platforms, such as Shopify, have recently announced changes in their sales trends, putting mobile-specific online shopping at the top of their most used devices. Shopify attributes this to advanced technologies entering the mobile device space, allowing for a more seamless online shopping experience regardless of device. Their latest advancements have focused specifically on accelerated checkout through better user interfaces.
Advertising: an ongoing issue
However, other aspects of online shopping have not kept pace with advancements in mobile interfaces and checkout. For example, advertising has struggled to remain abreast of the sheer size of the online shopping market.
This is due to a fundamental problem with the way advertisers approach their market. All advertisements are pushed to users exclusively based on their online browser history. In other words, whether users are shopping for a $60k vehicle, a pair of pants, or flowers for a loved one, they will receive advertisements for that specific thing. If they purchase the $60k car and are no longer looking for a vehicle, no matter. They will still be viewing ads for the same expensive car, one that they won’t be in the market for again for another two to ten years, for months. If they decided against pants in favor of a skirt, the same problem. Current technology just doesn’t recognize specifics like that.
Additionally, with fraud and dishonesty rampant throughout advertising, it is difficult to determine the accuracy of audience/viewer data. Advertising is one of the easiest ways to fraudulently profit online, as it is estimated that $7.2 billion will be lost by retailers due to online ad fraud this year.
A solution for everyone
The biggest issue by far, however, is that the only way advertisers determine audience parameters is through search history and clicks. Shopin is looking to solve that through their unique solution to problems facing eCommerce today.
Shopin is marketing to the 210 million online shoppers in the US alone, and the 1.4 billion active online shoppers globally. The company seeks to revolutionize retail for retailers and consumers alike, avoiding the terrible margins, lack of customer ownership, and difficult competitive environment of options like the Amazon marketplace.
The Shopin solution offers several advantages for retailers that have been unavailable up until now: the opportunity to invite shoppers to the Shopin platform, develop and verify shopper identities, preferences, and purchase history, offer incentive management functionality, provide one-click streamlined checkout, and provide decentralized, secure storage of all verified data. These offers are new and powerful tools for retailers to take advantage of.
However, the most attractive thing about Shopin to retailers and consumers alike is the one-source personal shopping data management it offers. It is designed with a consumer-centric focus, and that is the most important thing for all parties.
Shoppers can take advantage of Shopin’s data management system to enter their identifying data, securely manage credit card transactions, and participate in rewards systems. Additionally, Shopins is completely decentralized, built on a private, GDPR-compliant blockchain, and offers the security and immutability of such a platform.
It also offers a distinct token, the SHOPIN Token. The token can be used for shopping incentive programs that can be interchangeably used among all participating Shopin retailers. The Shopin All will act as a wallet for these tokens, making it easy and manageable to participate in incentive and reward programs. In other words, no more piles of bulky rewards cards or different passwords to remember for each retailer.
Shopin’s partnership with popular QRYPTOS exchange makes it even easier to interact in both communities. In fact, they are even designed with very similar user experience in mind, and most importantly, with the user experience at the forefront of each respective platform. QRYPTOS was developed as a highly secure, seamless cryptocurrency-only exchange, intended to make trading easy for market traders.
With QRYPTOS and Shopin working together, cryptocurrency enthusiasts can now trade easily in and out of the shopping platform, ensuring liquidity and flexibility as they take advantage of the low fees QRYPTOS offers as well as the broad range of coins available for trade.
