As the e- commerce market continues to be dominated by companies such as Amazon, Alibaba, Ebay, it is slowly becoming all to clear that the retail structure that we are currently using all over the world is not sustainable. With the complete depersonalisation of shopping markets, more and more people are becoming dissatisfied with the current distribution model that is being used by major corporations.
Statistically speaking, we can see that:
- 73% of all people prefer doing business with retailers that make use of personalised data to make their experience more customized.
- 88% people believe that retailers should allow for more customer personalisation in terms of their shopping needs and requirements.
Shopin can be thought of as a “decentralized shopping platform” that is based entirely within the blockchain. It makes use of a universal shopping profile and comes with its own cryptocurrency that has been designed specially for “retail and eCommerce purposes”.
Through the use of ShopIn, “retailers” can reap benefits such as:
(i) Profile Access:
Via the use of this system, retailers can become privy to the exact needs and wants of a shopper by gaining access to his/her ShopIn profile.
(ii) More Conversion:
Through the use of a highly specialised business model, retailers have the ability to increase their profit turnovers .
(iii) GDPR Compliant:
GDPR is a regulation that has been designed to help protect the privacy of user data pertaining to people hailing from EU member states.
Similarly, “shoppers” can benefit from things such as:
(i) Personalised Recommendations:
Via the use of its algorithmic structures, ShopIn has been designed to help deliver customers with “highly tailored product recommendations”.
Users have full control of their profiles and data.
Key Benefits of The Shopin Platform
Tht platform comes an “activity tracker module” that allows us to see and keep tabs on people who have been accessing our profile and viewing our data. In addition to this, users have the power to restrict access from certain parties so as to customize their shopping experience.
(ii) Easier Discovery:
Via the sharing of our “purchase history” with multiple retailers, it becomes easier to find products that are absolutely perfect for us. Additionally, we can also input certain criteria of our own, so that we are able to yield results that are highly specific to our needs.
(iii) One Stop Access:
ShopIn gives us the ability to make use of features such as a “one click checkout” as well as the power to accurately keep tabs on our purchases (all from one place).
Another underrated aspect of ShopIn is its ability to help allow for “profile sharing” so that our family and friends can do their shopping via us (instant photo/video sharing etc).
Shopin ICO Token Details
As mentioned previously, Shopin will be employing its own digital token for the management of incentives that are offered by various retailers. This native currency will be extremely important to the platform, and all of the transactions that go through the system, will be done so via the use of this token.
In all, there will be a total of 1.5 BN tokens that will be made available during the token sale (capped). Out of this figure, nearly 33% of the currency pool will be set aside for use by the incentive programs that are being offered by the company.
Also, the presale is about to commence, and during this period:
- There will be a $5MM hard cap.
- Users will receive a 40% bonus on all purchases.
- Commitments larger than $500,000 will receive a 66% bonus.
Who is Behind This Venture?
ShopIn is the brainchild of Eran Eyal, who serves as the company's founder as well as its CEO. In the past, he has founded 3 major digital ventures inlcduingt VaultML, Display.io, WinIt, CateredFit. In addition to this, Eran has also been the winner of the United Nations World Summit Award for Innovation.
Lastly, though our research, we have found that his previous venture was listed by FastCompany as one of the most innovative startups of that year. Similarly, Divakar Rayapaty is the company’s Co Founder as well as the CTO. In terms of his professional background, Divakar has previously worked at Priceline for 14 years, and has also been involved with companies such as Flowhealth.
For more details regarding ShopIn, users can get in touch with company representatives via their various social media outlets (twitter, facebook etc).