The world's e-commerce industry is one of the largest businesses in the world today, the industry is very large that it spans across borders and national with millions of transactions going on daily.
"In the year 2017, the value of the global e-retail sales was worth in excess of 2 trillion USD and it has been projected to grow further in the coming years" - Statista
Regardless of the boom in the e-commerce industry, and the implementation of loyalty programs, a lot of businesses still struggle to make continuous or profitable sales to new and existing customers. Why is this the case?
By taking a deeper look into the problem, I have been able to recognize how the innovative MobileBridge momentum platform will provide a much needed and lasting solution.
To properly get a grasp of the problem and solution, I will be analyzing 2 different parameters associated with a customer's activities/behavior. These parameters are;
- Average value of loyalty points
- Average value of cleared shopping cart orders
Loyalty Points: standard points for loyalty rewards are often set between 1-3% of the value of goods purchased, meaning that for every $100 spend, the loyalty point reward stands between $1 to $3.
Value Of Shopping Cart Orders: According to data gotten from Statista.com, the average worth of fulfilled shopping cart orders in 2017 stands at a little over $82.
Data Analysis
What this set of data has shown is that, the loyalty points people receive from different companies are often too small to use right away, meaning customers need to accumulate a lot of points before they can make meaningful purchases with it.
Considering the fact that most e-commerce stores are niche related, and reward points acquired in the loyalty programs are applicable to that specific company or store, gathering loyalty points may be tiring and discouraging for customers.
What is the point in having $3 coupons from 10 or 20 different stores if you can't combine their values together as one?.
Momentum MMTM Tokens
The Momentum platform is changing all that. On the momentum platform, the loyalty program rewards are redeemed in the form of the platform's personal cryptocurrency "MMTM" tokens.
This tokens can be can be acquired across different companies on the platform and used for different purposes like purchasing other products, exchanging for other cryptocurrencies or simply exchanging for fiat.
Momentum is giving the e-commerce industry a big lift such that the billions of dollars wasted yearly in unredeemed loyalty rewards will potentially become billions of dollars in fulfilled sale/purchase orders. With momentum companies can now get actionable data from the increased pool of people participating in their loyalty rewards program, they can get continuous sales through direct referrals carried out by their customers who are happy to promote their products for monetary rewards.
Normally cart abandonment is a common challenge that most e-commerce businesses faces and in most cases, the reason being for high extra costs like shipping and taxes. By creating an extra income stream through loyalty programs, customers can afford to pay this extra fees in making their successful purchase orders.
Momentum is opening a big doorway for the growth of the already large e-commerce industry helping businesses acquire more customers, generate more revenue and while providing real value to the customers.
Official Contacts
Website: https://momentumtoken.io/
Whitepaper:https://momentumtoken.io/files/MobileBridge_Momentum_Token_Sale_Whitepaper_-_FINAL_v1.0_1102018.pdf
BitcointalkANNThread:https://bitcointalk.org/index.php?topic=2943654.new#new
Telegram: https://t.me/MomentumToken
Reddit: https://www.reddit.com/r/Momentum_Token/
Twitter: https://twitter.com/MomentumToken
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