As we enter a time when many industries, in particular retail, are under enormous pressure to adapt to the shifting needs and expectations of consumers — and they struggle against the crushing competitive presence of ecommerce behemoths like Amazon — companies like Shopin have emerged with a new vision for how to revitalize the modern-day online and offline shopping experience.
Combining the power of Artificial Intelligence and blockchain technology, Shopin unites retailers and their customers through personalized product recommendations on their sites, apps, and physical stores for an unprecedented and full understanding of the shopper.
Dedicated to protecting user data rights while empowering retailers and brands to scale for mass consumer adoption and provide more valuable offers and rewards to their shoppers, while remaining GDPR-compliant, Shopin is decentralizing shopper data to create a retail economy that incentivizes both shoppers and retailers to work together for the best and most rewarding retail experience possible.
Challenging Times for Retail
Many retailers are closing at a rapid rate for range of reasons, and while some of these factors are related to other external forces, real estate trends, shifting consumer preferences, etc., they all tend to share one basic foundation: low conversions as a result of struggling to understand and engage with their customers meaningfully.
In today’s retail ecosystem:
Retailer data exists in fragmented legacy systems
Only 7% of retailers can recognize their shoppers across channels
3 out of 100 online shoppers actually make a purchase
1 out of 10 in-store shoppers actually make a purchase
Average return rates are at a whopping 40% (65% in season)
Retailers experience frequent and debilitating database hacks
Jeff Bezos is coming to eat everyone’s lunch!