Imagine your favourite experience at a Saturday market. The colourful hustle and bustle of different goods, offers, prices and customer approaches is always part of a good market adventure. It is the stalls that make the market – the more, the better, and not only in terms of quantity. This diversity needs to be preserved both online and offline, and should be enhanced at its best.
The online market is one of the most promising trade ventures in the world today. The amount of online sales comprised 2.3 trillion U.S. dollars in 2017 and is expected to double in the next four years (source). In comparison to the offline market, online trade has provided major enhancements, but several issues still remain to be effectively tackled for sales maximisation. Eligma, an e-commerce platform utilising AI and blockchain technology advantages, is currently testing its solutions for the following obstacles to online sales profit optimisation:
- Seller dispersion vs. Eligma’s AI
While a big physical market can pose challenges in terms of fitness, online browsing can turn into a serious click-and-scroll marathon between a number of different sites for price, distance and quality comparison. The ‘stalls’ at online markets are seriously dispersed, which reduces the chances for their goods to be discovered not only by as many customers as possible, but by the very customer who is searching precisely for your offer. The AI smart discovery function on the Eligma platform will enable access to the entire offer of all online stores at the same time and lead them to the entries fully corresponding to their search criteria. This will save time and bring relevant offers from multiple sellers to the foreground regardless of the selling site they use. Online sellers will thus be able to be present at fewer selling sites, with an effective product-customer reach and a worldwide exposure. This entails reduced membership fees, less web presence upkeep and lower advertising costs.
- Complex online selling process vs. Eligma’s automated listings
Although it does not require physical strength, an ‘online stall’ may be difficult to set up for an occasional seller with little computer interest. The aim of Eligma is to make the online selling process much simpler and encourage a lot more Internet users to become sellers no matter how tech-savvy they might be. The AI-driven inventory function of the Eligma platform compiles an automatic database of one’s online purchases as potential items for future resale, with Eligma’s household trading agent feature monitoring their value and notifying of the best time to sell a certain product. In the case of the user wishing to sell, Eligma will generate an automatic listing of the product and place it on selected online sites. This will result in a much more inclusive sales practice embracing not only every single professional online seller but every single household that would like to make some extra income by putting what it no longer needs into further circulation.
The offline and online commerce divide vs. BTC City – the first Bitcoin City in the world
Malls have become an important part of today’s consumer culture, with a great number of shopping and other establishments making all the difference. Eligma has partnered with a major business, shopping and innovation centre, BTC City, in order to test its AI item discovery solution (from August onwards). So far, most of the BTC City establishments, which cater to 21 million visitors a year, have operated almost exclusively offline. Now, we aim to enhance their market presence by adding the BTC City retail offer onto the Eligma online map. This bridging of the online and offline divide will have very positive implications not only for the sales, but also for the BTC City commercial landscape as we know it. BTC City will gradually start operating as a unified online presence, which will also enable the setup of a central warehouse used by all the shops. Along the line, this will bring several advantages to the retailers: a new pool of buyers at the online market, lower business promotion costs and more room for further shop additions. The major integration components of BTC City’s online and offline presence will be Eligma’s cryptocurrency transaction system EliPay and the ELI crypto token, which the customers will be able to use at BTC City stores, with the testing phase starting mid-April. Welcome to the Bitcoin City market adventure!
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