There are many things that you would better do in a group, and online shopping is definitely one of them. Websites that encourage group buying by offering special discounts and rewards are growing in popularity and number. There are services that help you get better deals while booking hotel rooms and tours, or purchasing various types of goods.
The model may vary, but the basic principle is the same: every time you persuade somebody to buy something, they get a discount and you get a credit. Everyone wins: the group leader gets the reward, the group members get a discount, the service providers charge their fees and the retailers sell their goods faster and promote them. Customer behaviour researches show that offering a discount is a good way to make people try a new product they would not buy otherwise.
Actually, businesses use this ‘grapevine’ approach more often than you think. Remember your bank asking you recommend it to your friend and offering you a reward for every new person who signs up (and they get their bonus, too). Remember special Friday offers like ‘bring 2 more guests and get one beer for free’, or the iHerb store using a simple but effective referral program giving you a bonus for every buyer who uses your code to get a 5% discount.
Modern marketing is often based on networking. It is natural – throughout the history people have been grouping to make things easier, faster and more fun. If you enhance this urge for social interaction with up-to-date technology, you will get a powerful marketing tool all parties can use in their best interest.
Channels.TeamShop: all you need and some extras
Exscudo team is planning to go even further in this direction.
Our upcoming Channels.TeamShop service is to combine all the good things group purchasing has to offer. You team up with other users to get a special group discount, and get extra money for attracting people to your group. Actually, you make money out of thin air and spend it in a smart way, paying less for the things you need regularly: various types of goods, tours, tickets, entertainment etc.
Let’s see how it works, step by step
- Exscudo receives from their partners (retailers) some amount of coupons, providing a discount for a group purchase. For instance, a group of ten can buy 10 HP laptops with a discount of 10%. For a retailer, it’s a good opportunity to sell more items faster and also acquire new clients.
All the offers can be found in a special in-app coupon catalog.
- The group organizer (any Channels user) spots this offer in the TeamShop catalog and starts working on it. Their goal is to make up a group of 10 to get access to this 10% discount coupon. Clients are ‘recruited’ through the app, in an individual or group chat.
The group organizer (further referred to as TeamShop Agent, or TSA) receives his or her share of the discount money. Say, the members of his group (Team Members, TM) get a 5% discount instead of 10% offered by the retailer, and the TSA take 5% as a reward for their team-building activity. If you are good with people and have some basic networking skills, you rewards may add up to real money.
- The Team Members buy EON cryptocurrency to pay their specified share. This amount in crypto is transferred into a separate wallet, where it is stored safely.
- When our TSA has enough members in his or her group (in our case it’s 10), Exscudo makes the digital coupon (code) available for all TMs. After it, the reserved reward amount is distributed between the TeamShop Agents according to the number of buyers they have attracted. (For convenience, a coupon offer may be taken by more than one TSA. It makes the process faster, and you can always make up for your decreased personal reward by collaborating on multiple coupon offers at once).
- The team members use their coupons to order their HP laptops (or whatever) in the online store of the coupon provider. All they need is to enter the code on the website.
- The retailer ships the order. Simple as that.
As you have probably noticed, TeamShop is good for everyone who uses it.
Also, as this service is based on Exscudo Channels app, you can enjoy their combined benefits. It means, you can store, spend or invest money you earn with TeamShop in the most convenient way ever, switching between currencies as you travel, getting up to 10% cashback as you buy and paying no fees when you withdraw cash. Good news for all those seeking to make their finances more organized and easier to handle!
The Channels.TeamShop service is currently being finalized. Soon, there will be more features revealed, follow us not to miss anything!