Telegram Twitter Facebook LinkedIn
Online shoppers globally faced the same challenge of numerous irredeemable vouchers and coupons issued to them by virtue of their patronage and loyalty to various stores and outlets. Just last week, i could not redeem my voucher with a retailer on AliExpress as I wasn't aware it's past due date. Turns out that my $58 voucher is just a fragment of $100 billion unclaimed loyalty rewards annually. Consequently, customers are getting fed up of loyalty programs and would be glad to see changes in the way loyalty programs are offered.
Retailers on the other hand knows that incentives in form of vouchers and coupons are central to high customer retention rate and research has shown that it's much more cheaper to retain a customer than getting a new one.
Specific challenges faced by customers are discussed below
Inability to Redeem Voucher, Coupons across different platforms
It's not possible yet to use a voucher offered on Alibaba to pay on AliExpress same also is inability to use Amazon gift card to pay on eBay. The major obstacle being terms and conditions differs considerably from one platform to another.
Issuance of too many cards
Looking at my bulky wallets filled with different vouchers from different stores gives me headache but then losing them means bidding goodbye to my reward. Most customers would rather an all inclusive loyalty program which doesn't involve accumulation of different cards in their wallet.
Inability to convert coupons and vouchers to cash
It is not possible yet to readily exchange vouchers for cash. Vouchers cards aren't liquid enough, they are restricted to the specific stores for transaction.
Inadequate information on vouchers and coupons expiry date and worth
Statistically, one-third of customers are unaware of the worth of their loyalty points while more than half are uninformed about their vouchers expiry date.
Loyalty programs does not permit transfer of points among customers
It's still impossible to transfer points among customers as there's no provision by merchants to encourage that presently.
Retailers too have their own share of the challenges as loyalty programs are expensive to manage especially in terms of human resources and technology. This had made some to consider other traditional advertising mediums such as TV and radio advertisement but turns out that they are even more expensive and less effective in driving foot traffic to stores and supermarkets.
It is based on this background that a team of experts with requisite knowledge of challenges facing loyalty programs came up with an innovative blockchain project to drive foot traffic to stores and outlets while solving permanently problems facing loyalty programs of partnered organisation.
THE MOZO PROJECT
Blockchain technology is regarded as the 4th revolution similar to the internet. Blockchain is causing huge disruption in virtually all sectors and is high time the technology is employed in driving foot traffic to stores and effective management of loyalty rewards. The Mozo project is built on the Ethereum blockchain.
Mozo blockchain project offers new dimension into loyalty reward management globally. By adopting cryptocurrency through the creation of Mozo token (coin), customers are rewarded in Mozo token which is redeemable across different stores, earn additional reward for visiting stores ( digital or offline) and could also readily exchange their token for cash.
Furthermore, Mozo tokens are stored on digital wallet this permits the customer to transfer the tokens from one wallet to another offering the highest form of liquidity that has never been experienced in the management of loyalty programs. Mozo tokens serves as the currency of the platform which is generally acceptable by all participants in the ecosystem. This means that a merchant owning a stores either digital or offline can buy Mozo tokens from the exchange, airdrop the tokens to customers as loyalty rewards either for being a first customer or for their active patronisation over the years and also accept payment for products in Mozo tokens. This is a perfect description of the Mozo tokens solution and is termed tokens of discovery.
With an estimated market opportunity of $12 billion in the Asia-Pacific ocean with 38,000 stored already agreeing to subscribe to Mozo project upon launching and an estimated 300,000 stores in the first 3 years , one can safely assume that the project would succeed.
HOW MOZO PROJECT WORKS
Powered by blockchain technology, Mozo works based on smart contracts which is tied to retail operations. Contracts are established whenever a registered consumer and their registered devices successful detect beacon (IoT device) attached to goods/product by merchants in their retail store. The contract is initiated by the consumer, therefore the Mozo contract is a user generated transaction that initiate control command between user-device, user-user or user- system. The system architecture is shown below:
There are two roles in the Mozo ecosystem, the consumer and the retailer role. To perform access Mozo service they are required to download the Mozo Consumer App and Retailer App from the playstore respectively.
Consumer App
The consumer App offers both the online and offline mode. When users are not in physical outlets, the App switch to online mode allowing customers to explore online stores and also make purchase using Mozo tokens. The App is an upgrade of the typical e-commerce website as customers get opportunity to explore products just from their favourite stores ( already determined by the user ) and also buy at a price set by the controlling stores thereby eliminating possible case of price discrimination.
Retailers App
The retailer App can be use as a salesperson, an outlet on as a Retailer depending on the logging privileges. To a salesperson, the App makes him a smarter sales person as information about individual customers upon their entry into the store is provided, their buying preference and physical endowment such as shoe size and dress size. All these information will come handy as a salesperson is trying his best to assist the customer.
When logged in as an owner of the store, the App allows the owner to set reward of action such as ZAP (when a customer discover a new product) and BUY action whenever a customer make purchase. In the subsequent version, that Mozo 3.0 , retailers would be able to buy and sell Mozo tokens on the exchange.
How to earn Mozo tokens on the platform
- Consumers earn a one time reward of Mozo token upon registration and successful download of the Mozo token App from Google playstore by performing.
- Customers can also earn a daily reward whenever they visit offline stores. This service is provided by merchants who values customer visit.
- Customers also earn Mozo tokens whenever they discovered new products, this is referred to as ZAPPING. Customers only need to bring their device close to the new product which they just discovered. The device then scanned the beacon on the product and the associated reward (Mozo ) tokens is credited to the customers wallet.
- Customers also earn whenever they use Mozo App to buy products at a digitized store or at Mozo redemption place.
Consumers can then proceed to sell earned Mozo tokens on exchanges and also for payment for products in merchants stores. Lastly there shall be inbuilt redemption place at www smartmozo.com where consumers tokens would be accepted as discounts or cashback on purchases.
TOKEN SALE
The total supply of Mozo token is limited to 5,000,000, 000. The Mozo crowdsale is in two tranches with a target of $88million. The specific details are provided below
First Tranche
- Hard Cap $42,000,000
- Available number of tokens in this phase : 700 million Mozo tokens
- Price per token : $0.09
- Pre-Sale : May 8th to July 10th 2018
- Crowdsale: July 11th to July 18th 2018
Unsold tokens in the phase shall be redistributed on proportional basis to investors.
Second Tranche
Hard Cap. $46,000,000
Available number of tokens in this phase: 550 million Mozo tokens
Only crowdsale is available in this phase
Time of sale: Last quarter (Q4) of 2018.
Unsold tokens would be distributed proportionally to investors in this phase.
CROWDSALE BONUS
Best deal
- 20% on purchase from 50ETH/5BTC and above
Popular
10% on purchase from 1 ETH/0.1 BTC
All other sales below 1ETH/0.1BTC attract no bonus
Project Major Milestones
Project Team
Useful Links
Website
[Whitepaper](
Telegram
Twitter
Facebook
LinkedIn
Bitcointalk
Bitcointalk Username of Writer : Daseento
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1544370
Congratulations! You have received an upvote from @abuja-steem. Don't forget to always use #abuja-steem as tag on your posts.
I hope in future where Mozo becomes a digital platform for physical retail malls to thrive side by side with online commerce. I will buy it .
I really hope so too. They got a great project with a working product already, kindly visit the website and consult the whitepaper for more information.