apM Coin project, a blockchain-powered customer rewards management platform, aims to improve apM malls’ shopping experience while promoting business transactions between wholesalers and buyers of apM, apM PLACE and apM Luxe. Ahead of apM Members mobile app launch this year, the project has focused on developing the services that meet the needs of wholesalers and customers of apM, apM PLACE and apM Luxe — the to-be primary users of apM Members mobile app. The changing business trends of the malls are also significant. In this regard, for the successful service adoption, apM Coin project plans to launch apM Digital Voucher services and add functions to purchase the brand-new digital voucher with apM Coin tokens on the app.
Customers can purchase apM Digital Voucher on apM Members mobile app; the highest discount rate will be offered when customers buy the digital voucher with apM Coin tokens. Customers can use the digital vouchers when purchasing goods/services in 1,300+ wholesale fashion brands in apM, apM PLACE and apM Luxe, cafe, snack bars, and other malls’ facilities.
According to this Korean newspaper article (link in Korean), the Dongdaemun B2B clothing market is the world’s largest fashion cluster. Its annual transactions amount is about USD 13 billion (KRW 15 trillion); the export amount reaches around USD 3 billion (KRW 3.3 trillion). apM, apM PLACE and apM Luxe — where apM Coin’s services will be deployed — are the largest B2B fashion malls, and they are also famous for their strong influence in Korea’s wholesale fashion market. More than 1,300+ brands in three malls have presented the most trendy clothing collections targeting local and international buyers from China, Vietnam, Japan and other neighbouring countries. Despite the pandemic crisis in 2020, the malls have gone through a challenging time by enhancing their online communication with international buyers on e-commerce platforms.
apM Coin project aims to make 10% of apM malls’ transaction amounts being traded in apM Digital Vouchers. As apM Coin token can be utilised for purchasing apM Digital Voucher at a discount rate, the project expects to offer practical benefits to the malls’ customers and wholesale brands. These benefits will allow apM Coin to secure more loyal users and more token utilities, leading to improved user services.
More information about revised token utilities of apM Coin project will be explained in a newly-revised project whitepaper, ‘apM Coin Project Whitepaper Ver.4.0.’ The revised whitepaper will be available in early March on https://apm-coin.com.