Mozo is using Blockchain Technology in disrupting Traditional point based Reward System for Effecient Foot Traffic
One
of the major way through which offline merchant improve foot traffic to their
store is through sponsored advertisement in the media. Other means is through
provision of point based loyalty reward to existing and new customers. This
point based reward can be used by customers to redeem goods and services from
the merchant store that gift them. However the point based loyalty reward have
proven not be successful in bringing required foot traffic into merchant. This
is as a result of many problems associated with the point based reward system
which are listed below
Inadequate information about the value of the point earned. Customers are not be able to check the balance of their loyalty rewards
Many customers hold numerous point base rewards from different merchants that operate independently. This mean point based reward obtained from merchant X cannot be spent in merchant Y shop
Merchant policies, term and conditions which is making redemption of point based reward difficult
Point earn as loyalty rewards are not allowed by merchants to be redeem into fiat currency
Millions of dollars are lost
annually as a result of the existing reward due to above problem and also the
target foot traffics are not forthcoming.
The existence of blockchain
technology has pave way for disruption of so many existing systems. This is a
result through which data are stored in a decentralized way. Mozo is tapping
into this blockchain technology in providing a refined approach through which
foot traffic is drive to offline merchant store. Mozo will disrupt already
existing loyalty reward through introduction of mozo coin which will replace
the traditional point base loyalty reward. With mozo, consumers need not to
worry about where to redeem their reward as mozo will be available for
redemption from different merchant that accept them. With well-developed
digital wallets which accommodate mozo, consumers will have opportunity to
redeem and convert their mozo directly into fiat. Another major draw-back of
already existing point base reward is that rewards are not transferable.
Through the digital app. Users can transfer mozo to another user for redemption
in applicable merchant store.
 |
| working principle of mozo |
The digital wallet which will be
developed will be used by both merchant and customers. Merchant on the
ecosystem can buy mozo token from the exchange and airdrop it into the mozo
digital wallet and use as loyalty reward for customers. This means the merchant
have variability in the use of the token own. The merchant can use the retailer
app to decide how much token to award consumers for their actions. Also the
mozo team have developed have developed an offline to online (O2O)
system through which consumers can redeem their earn token for products and
services. The O2O system works as market-place for exchange of
tokens. This O2O system consist of consumer APP integrated with
digital wallet that gives registered sales person access to upload product and
services which will be available in both offline and online store. Mozo project
will bring more flexibility to consumer experience when it comes to loyalty
reward redemption. For further information about mozo project kindly visit http://mozocoin.io/ or download and read the
whitepaper from this link https://mozocoin.io/pdf/060418_whitePaper_mozo.pdf
for further enquiries you can contact mozo team from the links above
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Mozo is using Blockchain Technology in disrupting Traditional point based Reward System for Effecient Foot Traffic
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