Dealjoy
INDUSTRY
INSIGHTS
Retail e-commerce is
predicted to rise from current yearly sales of $2304 billion to $4135 billion
by 20203, summing up to an average annual growth of 21.52%.
The cashback industry
is worth over $84 billion and grow-ing, while more than 100,000 e-commerce
merchants are using cashbacks as a marketing tool and over 64% of con-sumers
belong to a rewards site. In overall, more than 10% of online retail sales are
generated by performance mar-keting affiliates, including cashback providers4.
At the same time, mass
adoption of cryptocurrencies is on-going, with more than 10 million active
wallets5 and total cryptocurrency market capitalization peaking at $800
bil-lion in early 20186.
As proven by these
statistics, it is clear that there will be an increasing demand for
blockchain-based cashback plat-forms designed to connect customers and online
retailers for mutual benefits.
VENDORS
For retailers, cashback
programs have delivered immense-ly impressive results in multiple indicators of
sales perfor-mance.
According to market
research7, merchants experienced a 240% average increase in conversions and 46%
average increase in order value with cashback programs in use. In general,
cashback programs result in improved engage-ment, decreased bounce rate, and
increased amount of time spent on-site.
The following online
consumer behavioral findings of 2015 Global Cashback Industry Report explain
the massive posi-tive sales impact of the cashback programs well:
99% were more likely to make a purchase after
finding a discount 87% actively redeem rewards for points, cash
back and reward miles 82% claim if they can find all the discounted
products they need on one website, they will shop on that site frequently 52% say getting the best price and discounts
is the top reason they shop online
A vast amount of online
vendors have indeed implemented an affiliate program to boost their sales and
enhance visibility. These include the most significant e-commerce platforms in
the world, such as
Amazon, eBay and AliExpress. Since the basic technical affiliate infrastructure
already exists for most of the vendors, adding a support to those websites is
a quick process for
Dealjoy. There is no need for long-last-ing negotiations or complicated
integrations to onboard new merchants to our platform.
As a community-first
project, our members will be able to vote and suggest merchants from whom they
would like to receive cashbacks and deals. If there is demand for vendors that
do not currently offer an affiliate program, we will get in touch with them to
inform our community’s
interest. In the best
case scenario, we will onboard such vendors ex-clusively to the Dealjoy
platform.
REFUNDS
AND RETURNS
Affiliate commissions
are paid only for orders that are not returned to the merchant or refunded for
being damaged in shipment, lost package, etc. The typical waiting period for
our affiliate partners to approve and pay out commissions is four weeks from
the date of purchase. The normal practice among existing cashback providers is
to subject all cashback payouts to a waiting period. This is something we
didn’t want to do, so we came up with an innovative solution to enable instant
payouts.
Our solution to the
problem is an algorithm that analyses and determines expected return rates
using advanced data analysis. With the support of the data provided by our
algorithm, the Dealjoy platform will be able to determine purchases that are
eligible for payouts instantly after the transaction. Orders with a high risk
of return/refund are subject to a waiting period before DEAL tokens provided as
cashback are unlocked for withdrawals or further use. The possible waiting
period for high-risk orders is executed to protect the platform from malicious
cashback refund activities.
We also created an
alternative approach for users wishing to obtain cashbacks instantly after
their purchases in all circumstances. The solution is called Dealjoy Plus
membership and is further explained in the next chapter.
For more information:
Website : https://dealjoy.io/
Whitepaper : https://dealjoy.io/files/Dealjoy_Whitepaper.pdf
Telegram : https://t.me/dealjoy
Twitter : https://twitter.com/dealjoyofficial
Facebook : https://www.facebook.com/Dealjoy
Medium : https://medium.com/@dealjoy
Reddit : https://www.reddit.com/r/Dealjoy/
Bitcointalk Profile
Link : https://bitcointalk.org/index.php?action=profile;u=2275070;sa=summary
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