MOZO: INCREASING FOOT TRAFFIC IN STORES BY IMPROVING REWARD PROGRAMS, USING THE BLOCKCHAIN TECHNOLOGY.
The most important reason why many people engage in businesses is to make profits and gains. For Retailers to make reasonable profits from sales, they must have foot traffic, as this foot traffic should have a significant effect on the sales of that retailer. This means that the higher the foot traffic, the higher the sales by this retailer. One powerful tool used by retailers to increase traffic is the royalty programs. This royalty program is a rewards program that’s been offered by companies or by retailers to their customers who frequently make purchases with them. These rewards may include coupons, free merchandise rewards and others.
Challenges faced in Loyalty Programs.
When loyalty programs are introduced, members accumulate very large percentage of points, coupons and vouchers that are later not used. This leads to consumers having too many plastics or paper cards. And along the line they are nonredeemable across merchants. This cards and papers later inconvenience users and they are later dropped at homes, offices where their values are lost as these individuals are members in more than 25 programs which makes it more complicated to follow up each of the royalty programs. Consumers find it difficult to redeem these royalty points because of various terms and conditions that are not favorable.
One major challenge for consumers taking part in loyalty programs is that, they find it difficult to check their Point Balances or when these points will possibly expire. To follow up their reward details these consumers have to either call the relevant card centers, search for emails or login into slated websites to read up details, most consumers really don’t have time to follow up details like this. Some consumers don’t even know what their points possibly worth. Statistics shows that 38% of loyalty members don’t know the worth of their points making redemption more difficult for them.
Another issue faced by consumers is that most loyalty programs do not allow participants to transfer their points to other people. This can be a real problem when 2 or more people shop together as confusion sets in because of the lack of provisions for point transfer. To worsen the situation, some loyalty programs do not permit the exchange of accumulated points for fiat currency.
Consumers are the not the only ones faced with problems in the royalty programs. Retailers too face problems. When royalty programs are been conducted, retailers feel the heat, As large funds are used for marketing, inventory, accounting, price system and others. For some retailers, royalty programs do not work out, and they tend to opt in for ads campaigns like TV ads, print ads which are also expensive for this retailers. All this frustrates retailers and most of them find it difficult to increase their foot traffic/sales.
Solutions by Mozo
Using the Blockchain technology which is a digitalized, and decentralized public ledger of all crypto currency transactions, Mozo will establish a system that is better than the use of points in present day loyalty programs. With Mozo, consumers will be able to earn tokens as their rewards instead of points and they can redeem these tokens at any stores for their cashback and also exchange their rewards and discounts for local fiat. This will speedily increase the foot traffic for retailers than the present day loyalty program been used.
Mozo will develop a digital wallet that will collect tokens as rewards, transfer tokens to any other wallet globally and also allow redeeming of tokens across the merchant network. Mozo will make jobs easier for retailers as the retailer app designed for them will allow retailers to decide how many tokens to reward consumers for their activities. Consumer app was designed for consumers to be able to provide a sort of redemption market place where consumers can redeem their earned tokens for products and services with a ready-made digital wallet. Mozo solutions have been warmly welcomed by 38,000 stores which have all shown their interest by signing up for this. 20% increment is expected in foot traffic capacity for stores when mozo fully launches.
i. Consumer App: The consumer app will work both online and offline modes. Consumers will be able to redeem their tokens and express them in local fiat as well as Mozo tokens. When the Mozo 3.0 app is released, consumers who download will be airdropped free Mozo tokens. This consumer app will be available on google play stores and on apple stores.
b. Retailer App: The Mozo retailer app can be used by sales persons at outlets or by retailers. The retail app will allow the salesperson to become smarter, with the ability to detect loyal customers who regularly visit the stores. The app will allow sales persons to award tokens to consumers.
Mozo tokens.
Interested consumers will all be able to buy mozo tokens from exchanges and store up in their digital wallets or inside the consumer app by using Eth or Bitcoins. Consumers can also buy, earn and redeem mozo tokens by visiting physical stores purchasing products at stores. The amount of mozo tokens consumers can earn through this process can be determined by the owner of the products. To increase the general adoption for retailers, new retailers will all be credited with mozo tokes as incentives for their usage and to facilitate their on boarding. These free tokens provided will permit retailers with the opportunity to test mozo services. Mozo tokens will serve as bedrock for the mozo system. Mozo tokens will be traded for products and also services
Mozo Token Sale
A total supply of Five Billion (5,000,000,000) Mozo tokens will be created for the operation of Project Mozo. At no time will further tokens will be created.
> 25% (or 1,250,000,000 tokens) will be sold to the public in two (2) stages:
The first stage of 700,000,000 tokens will be sold at US$0.09 each, in a private sale, starting from May 8, 2018 until July 22, 2018, and a crowd sale from July 23, 2018 to July 30, 2018.
The second and final stage of 550,000,000 Mozo tokens will be sold at US$0.12 minimum, targeted for the Q4 2018.
The total hard cap for these two (2) stages is US$88 million.
More Details of these offerings, schedules and bonuses can be found at www.mozocoin.io
> 50% (or 2,500,000,000 tokens) will be allocated to the Mozo Treasury for merchant & mall acquisition and for initial rewards by airdrop to consumers that download the Mozo APP
In the next three years, 25% (or 1,250,000,000 tokens) will be allocated to the Mozo Foundation (vested over two years), and Advisors, Partners & Brokers (vested over 6 months).
Contact Mozo
website: https://www.mozocoin.io
white paper: https://www.mozocoin.io/#document
crowdsale:https://ico.mozocoin.io/buy-token
telegram: https://t.me/mozotoken
facebook: https://www.facebook.com/Mozo-Token-2039854656295415/
twitter: https://twitter.com/MozoToken
writers bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=2268939