Why did we start with eCommerce?
Rapid growth in information technology has changed the way people do business. It has changed everything from the product development, marketing, selling process, and communication channels. eCommerce is the buying and selling of goods or services via the internet, and the transfer of money and data to complete the sales. It's also known as electronic commerce or internet commerce.
There are many aspects of how eCommerce is growing strongly around the world. Below are some of them. Easy to use: The advance in smartphones makes online shopping easier than ever. Within a few clicks, people can complete online shopping and wait to receive the items in front of their doors. Lower the cost: With a plethora of eCommerce sites and neck and neck competition among them, the prices of the products are affected the most. This has led to high-quality products at low prices and great offers. Personalized shopping experience: Using AI, big data, and machine learning to learn customer behaviors, many eCommerce platforms can understand customers very well and actively offer the product that customer wants. It is not so exaggerated to say humans now almost turn from active to passive shopping. Borderless: eCommerce makes it possible for people to shop around the world.
With all these advantages, ShopNEXT decided to leverage our experience and knowledge in online shopping to offer a novel way to reward cash-back in token. After 6 months of testing and gaining feedback, we have grown organically quite well to about 200K mobile app users. However, there are few pain-points with the affiliate model that prevent us from expanding globally quickly. After deep dive research on both fintech and blockchain, we have found a recipe to make the Shop-To-Earn model grow at a better scale. As such we launched the new model: rewarding blockchain tokens on every card payment.