Sirwin
Sirwin

Incent: capturing the trends in mobile retail and beyond

By Incent | Incent Loyalty | 2 Jul 2019


Incent’s vision is for a gamified mobile rewards system, with crypto tokens being delivered in real-time to consumers as they shop. Here’s why we’re pretty sure that’s the shape of things to come for the retail sector.

The face of retail is changing fast – maybe faster than ever before. The high street has changed out of all recognition, squeezed by online retailers with lower overheads and higher margins. As the pace of technological advance accelerates, online retailers themselves are finding themselves in an arms race of their own. E-commerce is giving way to m-commerce, as a growing proportion of consumers shop from their mobile devices – or even via smart speaker. 

By 2021, m-commerce is forecast to account for over half of all online purchases. Put simply, any retailer that isn’t mobile ready is going to be losing market share. (It’s about far more than making a website or store accessible on mobile, too: a third of consumers look up information about products on their mobile while they’re actually in a physical store.)

Mobile commerce has also catalysed the development of new mobile industries, including banking and payments, e-tickets and boarding passes, location-based services and – critically – loyalty.

Industry research suggests that online retail will top $4 trillion globally by 2020 – with mobile commerce picking up almost $2 trillion by next year. That shouldn’t come as a surprise, given that there are now more than 2.5 billion smartphone users in the world.

The all-important millennial demographic

This growth is, predictably, being driven by the tech-savvy millennial generation. These are people who have grown up with the internet and are comfortable adopting new technologies. They are also the largest investors in cryptocurrency. Once again, that shouldn’t come as a surprise: millennials have been shut out of almost every other investment opportunity, forced to sit on the sidelines as they see quantitative easing – the result of a financial crisis they did not cause – pushing up asset prices before they had the disposable income to buy in. Meanwhile, they are saddled with unprecedented levels of debt. Perhaps as a result of being promised the world and seeing it held just beyond their reach, they expect more for their money, and they are less willing to put up with substandard products and brands.

21st century rewards

That’s the landscape Incent is targeting. Retailers squeezed from all sides, particularly the smaller independents who face competition from the Goliath of global corporations. Consumers who seek the convenience of mobile payments and commerce, and who will seek out the best deals using the devices that have become a part of everyday life. Millennials, who want maximum bang for their buck, who don’t feel great loyalty to brands that don’t appear to work in their interests, and who lack the incentive or opportunity to save.

The intersection of these spaces is the fast-growing area in which Incent will operate – and where its technology and vision give it a compelling edge.

Incent’s waiting list is currently live, with full launch planned for July. Consumers will be rewarded in Incent tokens on every spend they make. To find out more, visit www.incent.com

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Incent
Incent

Incent is a blockchain rewards system that enables anyone to save and grow wealth in crypto through their everyday spending. www.Incent.com.


Incent Loyalty
Incent Loyalty

Incent is a blockchain rewards system that enables mainstream consumers to save and build wealth through crypto - on every spend they make.

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