We have previously established the audience who needs ABBC. Maximizing the DPoS blockchain that we have now, ABBC is set to open and adopt its platform to the e-commerce sector. Having a scalable network as its competitive edge, small and medium marketplaces and advertising platforms can utilize the ABBC blockchain.
Based on Statista, it has been estimated that there would be 1.92 billion global digital buyers in 2019. With people becoming more hooked to online shopping, e-retailers and online marketplaces are booming with customers. For the shopkeepers to sustain with the high demands of the e-commerce market, the innovative advantage of blockchain can be put into use.
Seeing the bigger picture, the ABBC team has taken into consideration certain aspects involved within the e-commerce industry, specifically payments and marketplaces, loyalty rewards solutions, and the advertisement business model.
Let us look into these key concepts individually:
1. Payments and Marketplaces
Among the top potential use cases of blockchain are payments and marketplaces. It is the brain and heart of the e-commerce ecosystem.
The marketplace is the provider of the customer’s needs and they are the ones responsible for thinking and considering what would enhance the customer’s experience.
On the other hand, payments keep the business going. If there are no profits coming in, and if there are discrepancies within the payment processing itself, the online stores will fail to function.
According to the 2018 UPS Pulse of the Online Shopper report, 96% of US consumers who shop online do so on marketplaces. This is because it offers better prices, free and discounted shipping, and a wide variety of choices. Alongside this, cryptocurrency as a payment method has also been integrated into an increasing number of online merchants and shops. In fact, approximately 15,000 businesses worldwide are accepting crypto for online purchases.
A decentralized marketplace is beneficial for merchants as it can expand their retail channel and additionally target the cryptocurrency-savvy community. The ABBC blockchain has been built to cater to this. The platform can allow consumers to shop with crypto in an intuitive and decentralized way, and also help users to securely send and receive payments in marketplaces while improving the sellers’ reputation at the same time.
2. Loyalty Rewards Solutions
In any type of business, one of the common things that a customer considers to be important is having rewards. Basically 68% of mobile device users have searched for a retail coupon or another form of loyalty program when purchasing products online. Loyalty rewards programs are attractive to customers and can drive sales crazily when executed properly.
With the use of blockchain technology, customer experience can be improved substantially. A blockchain-based loyalty rewards program can be cost-efficient, secure, fraud-free, and transparent. Also, through the ABBC blockchain, merchants can create customized loyalty programs for their customers that could lead to value-added services.
E-commerce businesses have hundreds of potential techniques to boost customer loyalty, but ABBC offers unique advantages. Associated with our blockchain, the ABBC Wallet will open great opportunities for shoppers. Instead of the usual “points,” users can receive ABBC Coin as rewards and use it for online shopping. Business owners will provide various rewards and loyalty bonuses to customers based on how much they spend on ABBC affiliated platforms.
3. Advertisement Business Model
To establish branding recognition and awareness for consumers, online businesses also deal with advertisements. Digital advertising nowadays typically optimizes pay-per-click or pay-per-action campaigns that involve several intermediaries and uncertainty for ROI.
Blockchain can disrupt the digital advertising ecosystem by instilling trust and transparency, among other components. Both advertisers and publishers can create mutually beneficial revenue models by eliminating intermediaries. As one of the target audiences of ABBC, advertising platforms can leverage our blockchain to have an innovative way to display relevant content.
If this business model becomes a success, both advertisers and merchants can benefit each other through the ABBC blockchain. With greater leads and customer base, all participants can be efficient, reliable, and stable in delivering their services. Customers can add value to the advertisements that will be published on behalf of publishers, and the market owners can benefit by getting more clientele. Establishing a connection between the merchant and advertising platforms is also made easier via smart contracts in the ABBC blockchain.
In the business domain, technology should contribute to profit. ABBC enables several business models for our community members to earn money and build their reputation. As the latest researches show that 80% of consumers are more likely to make a purchase when brands offer personalized experiences, the ABBC platform allows e-retailers and online businesses to prosper by giving them the freedom to tailor their markets to the consumers.
As what CEO Jason mentioned beforehand,
We are now all becoming digital natives and there’s no turning back from it. As the digital market grows, so does the transactions and blockchain technology will manifest, sooner than later.
The e-commerce industry is not slowing down, and neither does ABBC.
ABBC is now e-commerce ready and is all geared up to help the industry move forward.