Mozo Token: Mozo is a token to discover the future of commerce. A future where Mozo Token becomes a digital platform for physical retail malls to thrive side by side with online commerce. With due respect to the real McCoy, Mozo Token is a digital currency for all transactions across all merchants in any speci!c mall or malls. It is a spendable currency which is convertible into and from loyalty points when you shop. Due to the well-established acceptance of buying online, physical malls are losing their historical advantage on price competitiveness and convenience. To bring foot tra”c back into the physical stores, Mozo Token was borne to pivot the comeback of urban retail giants.
Foot tra”c is critical to many types of businesses, particularly retail stores, as greater foot tra”c should correlate to higher sales. Driving foot tra”c to retail spaces has always been a challenge, however, loyalty programs have seemed to be an e#ective way to bring return customers back to the stores. A recent Nielsen consumer study [1] showed that loyalty programs help drive more frequent visits and a greater number of purchases. More than seven in ten global respondents (72%) agreed that, all other factors being equal, they would buy from a retailer with a loyalty program over one without.
While loyalty programs seem to be a promising tool for increasing sales, existing point-based loyalty programs do not work as well as they should. According to Bond Loyalty’s Report 2017 [2], more than half of point-based loyalty program participants (57%) don’t know their points balance and more than one in three of them (38%) are unaware of the value of their points, let alone how to use them. Single merchant membership reward systems are less e#ective and valued by consumers and hence not as e#ective a tool for the intended purpose of increasing foot tra”c. Hence, the search for a more powerful “earn and redeem” loyalty program has been a challenge and the subject of extensive studies in the retail industry for years.
Now, the search is over. Breakthroughs in Blockchain and IoT technologies o#er new ways to attract customers and promise to be the front runner in helping retail stores drive foot tra”c and sales. Imagine you have (1) Mozo, a liquid, tradeable, and exchangeable cryptocurrency, at the heart of this new universal loyalty program network, a token that adheres to the well-established and popular Ethereum blockchain network; (2) a digital wallet that can earn and redeem rewards globally and across merchants wherever the internet connects you; and (3) rewards that are o#ered and collected via a smartphone app that also allows you to discover products and services. With Mozo, consumers are turned into customers driven to retailers that o#er and accept Mozo. With that, merchants will have the most e#ective and e”cient loyalty program available, all under a business model that can be best described as the “Token of Discovery”.
Mozo
