How Benebit is disrupting online shopping through blockchain
Let’s face it, ecommerce has already disrupted shopping in a major way. From books to clothes and even groceries, consumers are choosing utility and time savings by taking their business online. That’s revolutionized the way we buy products and services, and it seems to be a win-win for both retailers who save on brick and mortar operations, and customers who save time, and often money. Nevertheless, (online) retailers are facing the same issue traditional retailers do– rolling our efficient customer loyalty and retention programs.
So how are retailers addressing customer loyalty?
Enter loyalty programs. Cashback and loyalty programs are a way to incentivize customers by giving them an amount of cash for every purchase they make. The main idea is to create a better consumer-merchant relationship by facilitating consumers and making them feel valued. And, naturally, consumers are inclined to participate as well. According to a survey by Loyalty360, 83% of consumers participate in at least one loyalty program, and 13% participate in more than five. With that being said, the efficiency of those programs is tragic. Most programs are too slow and absolutely illiquid, as a consumer can only spend his or her “points” on the same retailer as well as losing them after a certain period.
Disrupting online shopping through blockchain technology
With both retailers and consumers in mind, Benebit.io aims to revolutionize the world of cashback and loyalty programs through the adoption of blockchain technology. How? Benebit will replace the point system from the last century with the Benebit Token, allownig users to exchange their Benebit Tokens into any major cryptocurrency or fiat currency. Now, customers do not have to worry if they are in the UK or Europe, as they will always be able to shop from their favorite brands all over the world using one single Benebit Token (BNE).
How does it work?
For consumers, the startup is introducing the Benebit App, as well as the Benecard. While shoppers can use the app to find brands, shop and store their points, the Benecard solves the longstanding problem of countless loyalty cards. The card is essentially a hardware wallet for all cashback points, which can be spent anywhere as the proprietary technology allows users to use it as fiat money or a credit card.
From a business point of view, Benebit empowers retailers with a Point of Sale System, which not only collects customer shopping data but also allows for management of internal processes such as inventory tracking, staff payroll and vendor listing. In addition, Benebit’s proprietary technology lowers retailers’ transaction fees as intermediaries are cut out and all transactions happen on the Benebit network. Last but not least, brands are able to interact with customers (and vice-versa) through the Benebit app, increasing engagement.
Crypto hype or an actual use case?
While there are countless blockchain projects built around nothing more than a few hype words, Benebit looks to have an actual use case where the benefits of the blockchain technology add real value to both businesses and consumers.
Join the Benebit ICO by visiting — https://benebit.io/en#token-sale
Read the official Benebit Whitepaper Here — https://benebit.io/storage/Whitepaper.pdf
Find Benebit on Facebook — https://www.facebook.com/benebitcommunity
Follow Benebit on Twitter — https://twitter.com/benebit_io
Follow Benebit on Medium — https://medium.com/benebit
Official Benebit Telegram Group — https://t.me/benebit
Follow Benebit on — https://bitcointalk.org/index.php?topic=2548744.0
