IOU | GLOBAL E-COMMERCE REVENUES

The global eCommerce market has demonstrated explosive growth in the past couple of years and its future is expected to be booming. In 2017, the global e-retail sales amounted to 2.3 trillion U.S. dollars and projections show a growth of up to 4.48 trillion U.S. dollars by 2021. This astonishing growth is primarily being driven by consumers using their mobile devices to acquire goods and services.

In this ultra-competitive environment, finding and acquiring new customers can be a huge challenge for merchants. In addition, 53% of adults living in high-income households claim to be willing to switch brands for the sake of using a coupon.

The challenges for players in this giant market are key, including customer loyalty, achieving profitable long-term growth, and choosing the right technology and partners, among others.

At the same time, the tremendous evolution of blockchain technology is radically changing the way many markets operate. Important USPs of blockchain like transparency, coherence, cost-effectiveness and effective integration with processes at all levels of the business can bring to the e-commerce market endless opportunities.

Now, imagine the explosive combination of e-commerce, blockchain technology, and cryptocurrencies: the IOU Platform, a true P2P e-commerce loyalty platform on the blockchain.

It aims at empowering blockchain Merchants and Consumers with decentralized and secure Peer-to-Peer technology driving customer satisfaction and loyalty through Merchant’s trade-able IOUs. IOU Platform can successfully address many of the challenges of the e-commerce segment.

IOU is launching the IOUX token and a promising Initial Coin Offering (ICO) campaign. Below you will find all the relative information on IOU together with the specifics of the ICO campaign.

In the era of internet, e-commerce is the king. However, this exponentially growing market faces some serious challenges:

1. CUSTOMER LOYALTY

It is a key issue as it takes lots of efforts for companies to make a new customer and maintain the same customer for long time.

One of the reasons why ecommerce companies face the struggle while building trust and loyalty with customer, is because a seller and a buyer don’t know each other, nor they can see each other while making a transaction unlike street-shopping. It takes few transactions, time and plenty of efforts by the company to build the customer trust and loyalty8.

2. ACHIEVING PROFITABLE LONG-TERM GROWTH

Increasing sales is one way to grow the business but in the end, what matters most is profitability. Online retailers must always find ways to cut inventory costs, improve marketing efficiency, reduce overhead, reduce shipping costs, and control order returns.

3. CHOOSING THE RIGHT TECHNOLOGY & PARTNERS

Some online retailers may face growth challenges because their technology is limiting them, or they’ve hired the wrong partners/agencies to help them manage their projects. Retailers wanting to achieve growth must build on a good technology foundation. They must choose the right shopping cart solution, inventory management software, email software, CRM systems, analytics and so much more. In addition, hiring the wrong partners or agencies to help them implement projects may also limit their growth. Online retailers must choose carefully who to work with.