A Must-Have For Every Retailer — Four Reasons Why Blockchain is The Future
In a previous article, we already explained the benefits blockchain technology offers regarding payment processing: Lower fees to be paid to payment providers; payments can be transferred from one wallet to another within seconds — 7 days a week, 24 hours a day; all transactions are fully recorded and can be tracked by anyone.
That alone would make a good argument for every merchant to be open to blockchain technology (the technology GAMB will be based upon) in e-commerce. But what if that isn’t enough to really win you over? Well, don’t worry — we still have four more good reasons waiting for you:
1. Consumer Trust
Nowadays, consumers are putting more and more emphasis on the origin and the authenticity of the goods they purchase. Blockchain technology is ideally suited to track back an item’s origin and thus reassure the consumer: you can e.g. just scan a certain item’s hidden NFC chip and view all the details like the origin, production date, shipping company etc. That way retailers can directly address those customers who value transparency and authenticity, which they will certainly appreciate!
2. Loyalty Programs
People love to participate in loyalty programs, especially because they can save money — at least that’s what the statistics say. Blockchain has the power to make loyalty programs even more attractive: For example, it enables the safe transferral of loyalty rewards to other people like friends or family. Furthermore, rewards can be transferred immediately after a transaction has been made, while this process otherwise can take days or even weeks.
With GAMB, merchants will be able to decide for themselves if they want to introduce blockchain-based loyalty programs, as such technologies can be easily implemented into the system.
If you want to learn more about why GAMB is going to revolutionize e-commerce, click here!
3. Counterfeiting
Counterfeiting is a serious issue for merchants all over the world. Losing customers and reputation can threaten their very existence. Blockchain technology offers an encrypted, unchangeable ledger system which is perfectly suited to prevent counterfeiting: Every item can be assigned a digital ‘passport’ which contains info on where it comes from and where it is going. Customers and merchants alike can now be sure that the authenticity of the goods they are buying/selling can be easily verified.
4. Efficiency
As we have learned, blockchain technology can make data concerning a certain product or a whole shipment available to anyone. Retailers can track where the shipment is at certain stages of the supply chain and use this valuable information to improve the overall shipping efficiency. These insights can be used to optimize e.g. sales forecasting and stock management, which can save retailers considerable sums of money in the long run.
Who we are
As Ernest Hemingway once said:
The shortest answer is doing the thing.
This is why we are “doing” GAMB: We believe that blockchain technology is the future, especially in retail. We want to give the power back to the merchants and enable them to create a successful marketplace environment — for themselves as well as for the whole network. Join GAMB and be part of the decentralized marketplace of the future!
Author
Lennard Kläfker is Head of Online Marketing at Gambio and has made the future of e-commerce his passion. He is fascinated by the opportunities available to online merchants today — and even more by what lies ahead. Whenever he finds the time to write about it, we will publish it here.
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