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Discovering The Future of Commerce

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Have you ever take cognizance of how people walk by your store and don’t come in to purchase? Does it really bother you? Of course it does. No one has ever been comfortable seeing people pass their retail shop. The Location of any business should be the main priority of any individual deciding to set up a business. The gathering of research, conducting survey on the amount of foot traffic during different segment of the day is also necessary.

Foot traffic according to Investopedia is the presence and movement of people walking around in a particular space. Street-level retail venture, naturally, depend heavily on foot traffic, but basically foot traffic are beneficial to second or third floor of a building in any environment. Nevertheless, the area with higher amounts of foot traffic tends to be costly in terms of rents thereby being an important consideration in urban planning. It is also important to many businesses, most particularly retail establishment, as higher foot traffic can result to higher sales.

However, a loyalty program happens to be a promising tool for increasing sales, it is a program run by a company that offers benefits to frequent customers. Those benefits may be in the form of discounts, rebates, free products, or other promotions. An effective customer loyalty program rewards customers who buy from a business on a regular basis, encouraging the customer to return frequently.

Despite the benefit of loyalty reward, the amount of trust consumers put in brands is decreasing all the time therefore causing a lot of challenges like poor customer services, Lack of customer appreciation, less effective reward system.

But without much tarry, MOZO an ecosystem has come to help proffer solutions by using a blockchain and IOT technology to offer new ways to attract customers and promise a huge method to increase sales through foot traffic.

THE CONCEPT OF MOZO

The mozo project backed by US$1.0m private investment, started operation two years ago with signing part of the largest shopping mall in china named MoU with Wanda e-Commerce Co., Ltd. With MOZO being created on the blockchain technology, Consumers will be able to earn and redeem mozo token with low transaction fee across different merchant such as shopping mall, a city or anywhere around the world. One of the major aims of mozo is to help increase foot traffic to physical stuffs. With mozo consumers will be able to mine and collect the MOZO TOKEN which can also be converted to other currencies like Bitcoin and Ethereum. With mozo software version 1.0 consumers will be able to compare online and offline product services and also discover product details and purchase on the APP at these stores.

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DISCOVERING THE FUTURE OF COMMERCE. (2019, March 27). GradesFixer. Retrieved June 24, 2022, from https://gradesfixer.com/free-essay-examples/discovering-the-future-of-commerce/
“DISCOVERING THE FUTURE OF COMMERCE.” GradesFixer, 27 Mar. 2019, gradesfixer.com/free-essay-examples/discovering-the-future-of-commerce/
DISCOVERING THE FUTURE OF COMMERCE. [online]. Available at: <https://gradesfixer.com/free-essay-examples/discovering-the-future-of-commerce/> [Accessed 24 Jun. 2022].
DISCOVERING THE FUTURE OF COMMERCE [Internet]. GradesFixer. 2019 Mar 27 [cited 2022 Jun 24]. Available from: https://gradesfixer.com/free-essay-examples/discovering-the-future-of-commerce/
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