Centareum: Revolutionizing the Retail Experience
In recent years, traditional retailers have been suffering from increased competition from online competitors and low marketing outreach. Just within 2017 alone, traditional retailers closed more than 5000 stores in the USA, citing falling foot traffic and online shopping as their main reasons for doing so. However, in spite of such setbacks, the majority of retail sales still take place in physical brick-and-mortar stores and these sales are still growing at a decent rate of 3% Compound Annual Growth Rate (CAGR) annually. To combat these issues, retailers have turned to extensive marketing campaigns and omni-channel strategies to raise brand awareness. However, these solutions are often inadequate as they require retailers to pay expensive fees while getting a poor return for the amount spent. Thus, there is a real need for a proper solution to help retailers tap into the latent potential for growth in the competitive retail industry.
One solution that promises to revolutionize the retail experience is Centareum. Centareum is essentially an end-to-end decentralized location-based mobile marketing platform that is designed to effectively connect retailers with their target consumers and bridge the gap between online marketing and offline shopping at brick-and-mortar stores. Centareum is able to bypass traditional e-commerce and social media channels to provide a more personalized and transparent shopping experience for consumers at cheaper prices.
The benefits of Centareum can be summarised in four main principles, namely: the right time, right place, right promotion, and right price. Together, these principles form the 4R system.
For the right time, advertisement delivery on the Centareum platform takes less than five minutes, while traditional advertisements take months of preparation and planning. This makes it easy for businesses to push out advertisements for their brands with immediate impact.
For the right place, using location-tracking, the Centareum platform is able to sense when a consumer is in the proximity of a store. The platform will then push targeted advertisements about the store to the consumer as advertisements in the vicinity of a store achieves the highest conversion rates. These conversion rates are much higher than that from traditional advertising which publishes advertisements at odd hours and locations.
For the right promotion, consumers on Centareum can stand to enjoy exciting deals that entices them to shop at retail stores on the platform. In brick-and-mortar stores, it is difficult for businesses to tailor their services to the tastes and preferences of customers as they are unable to differentiate between individual consumers. This changes with the integration of Artificial Intelligence which can deliberately target each customer’s needs specifically, giving customers personalized pricing, accurate recommendations, real-time offers and more. Furthermore, by utilizing data analytics, Centareum enables businesses to give targeted offers to reward loyal customers or to attract new customers.
Lastly, for the right price, Centareum greatly reduces marketing costs for retailers. Costs from digital marketing strategies usually add up to over 50% of the cost of the product, and these costs are passed on the consumers. With Centareum, these unnecessary costs are removed, and both retailers and consumers can now benefit from the true value of the product.
Alongside Centareum, two cryptocurrency tokens called Centareum token (CTM) and Centa dollar (CTD) will also be launched. CTM is the ERC-20 token sold in the Centareum ICO while CTD tokens are used as the fuel for the platform. CTD is used instead of CTM as ERC-20 tokens are slow, expensive, and usually experiences significant price fluctuations. These issues make CTM inappropriate for the purpose of real time transactions. The two tokens will be interchangeable through the Centareum token gateway. Hence, any CTM purchased in the Centareum ICO can be converted to CTD for use in the platform. In addition, fiat money and other cryptocurrencies can also be converted to CTD as well.
Each CTD is pegged to 1 USD and the main purpose of CTD is for the purchasing of services within the Centareum platform. For example, businesses who publish advertisements through Centareum will pay a small fee in CTD. Consumers that purchase goods and services from offers in the Centareum application also have the option to use CTD to pay as well. These are just some of the examples of how cryptocurrency is woven naturally into the retail experience.
As you can see, Centareum improves upon existing marketing channels by directly reaching out to consumers. Built upon the blockchain with artificial intelligence integration, the platform promises to better engage consumers and greatly boost retail growth. In time to come, I believe that Centareum will be able to revolutionize and redefine the quintessential retail shopping experience.
Find out more about Centareum in the links below!
