MozoCoin: Breeding More Prospects for the Loyalty Industry

acynthializzy (25)in #mozo • 6 years ago (edited)

Screenshot_2018-07-19-11-21-32-863_cn.wps.moffice_eng.png Online shopping had been the darling of many because it offers them convenience and as many shoppers posit, there are good tidings such as loyalty programs aimed at rewarding customers for their patronage.
However, most people prefer shopping in reality. They’ll rather walk into a retail store and get the product they want than endure the strenuous wait that comes with last-mile delivery of their package.
For businesses, they cherish their customers and would like to have strongholds on them so they can have renewed sales. In business particularly for retail stores, there exists a term known as foot traffic. Foot traffic will be explained by examining it from three angles.
Foot traffic has to do with the presence of pedestrians taking a walk around an establishment, particularly a retail store. It can also be regarded as pedestrians who visit a business site. Finally, the term foot traffic is the totality of people that walk into a shop or business outfit in a specific period.
Potentials and Problems
At the moment, the foot traffic approach is estimated to go farther from the level it is now. It had been reported that foot traffic features about 2.6 trillion persons walking into a shop every year.
The problem with foot traffic is how a business can convert that man walking down the street into a customer. The man certainly has needs and that need evolves round a product. The business outfit he just walked past has the product. What stopped him from walking in? The answer is loyalty.

Most customers want rewards and incentives for transacting and identifying with your business. Hence, why your business might not have gotten many customers this year is because you don’t offer loyalty programs.
Recent statistics, especially the one from Nielsen Consumer Study posited that consumers have about 70% likelihood of transacting with a business offering loyalty programs. In the same vein, loyalty programs are one out of many ways you can lure customers to your business.
Though most platforms have keyed into this great concept, they don’t make efficient use of this. Many of these platforms practice single merchant membership rewards and the traditional point-based loyalty program should be discouraged as many consumers have no idea the value of their loyalty points, can’t dictate how many loyalty points they have and how they can sue their loyalty points.
Customers find it hard to convert the value of their loyalty points into fiat currency. They’re only allowed to spend their points on the platform where they were issued or supported and not to get the value in cash.
Most retailers ported to advertising their business when their loyalty programs failed. High cost of advertising in media drains the finance of many businesses.
A Solution from MozoCoin
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MozoCoin aims at solving existing problems in the loyalty industry. It’s trying to return the glory of physical shops and malls by bringing new trends to loyalty programs. Incentives play great role in encouraging people. Realizing this, MozoCoin will reward you for doing a simple task – walking into a retail shop and having a transaction.
It’ll also solve the problem of loyalty point’s conversion. Through its blockchain, MozoCoin will develop a peer-to-peer network that’ll facilitate interaction between consumers and merchants. There won’t be third-parties as the transaction is between the merchant and the consumer.

Functionality
Smart contracts are used for transactions on the Mozo blockchain. It connects a retailer’s smartphone to the consumer’s. Through this way, transactions can be easily done when a consumer issues the direction.
Consumers can get the Mozo mobile application from the Google Play Store and the Apple Store. The application contains digital wallets that are run based on the Ethereum standard tokens: ERC20 and ERC223. Verification of every consumer is done through email or SMS. Every user on the platform (especially those using the mobile application) gets a Unique ID (UID) for his identification.

Increasing Foot Traffic
Mozo offers businesses the opportunity of increasing sales by having more customers at their doorsteps. By using its mobile application and the built-in Indoor Positioning System (IPS), Mozo allows businesses get notified when a prospective customer are within their neighborhood.

Wrapping Up
Mozo is a great project and is coming at a time the offline shopping is picking up. It hopes to bring new approaches to loyalty programs. You won’t have to worry about the expiration date on your loyalty voucher as Mozo is set to give you unlimited loyalty that only “expires” when you exhaust it.
Mozo has mobile applications for both the merchant/retailer and consumer to ease their transactions and give each real-time notification of a customer’s presence and when the merchant comes up with a loyalty program.

The platform also features Internet of Things (IoT) devices and sensors such as Barcode, iBeacon, QR Code and Facial Recognition. This will greatly improve consumers’ and retailers’ experience on the platform.
In a nutshell, Mozo is a new way to access loyalty programs.

Allocation of Tokens