Update: 3D Online Shopping Platform Has 100 Retailers and 50,000 Users in a Frenzy
Retail leaders line up to access a newly-discovered $695 million market following a hugely successful beta site
SYDNEY, Aug. 17, 2017 /PRNewswire/ -- Silicon Valley experts called it the "ultimate dream" online shopping experience, and now top Australian retailers are lining up with The 360 Mall 3D shopping platform to make it a reality. Despite being the work of schoolboy tycoon Alex Danieli, the revolutionary e-commerce solution has garnered international attention from investors and retailers.
"We've unearthed a bombshell $695 million untapped market opportunity in Australian online retail," says the retail magnate who has been likened to Ruslan Kogan and Mark Zuckerberg by the media. The seed-backed startup is set to change how we shop online - it has reinvented status-quo transactional e-commerce.
He continues, "Our cutting edge in-browser 3D shopping platform is an exciting paradigm shift. It's easy to get excited when you try it. It really feels like you are inside the store. Shoppers are able to walk around virtual stores using their keyboard{…}they can even pick up products and interact with them."
Danieli reports the tech firm performed studies and product tests over the past five years in Australia and Silicon Valley that reveal the enormous market gap is due to the current nature of e-commerce, which lacks a tangible, holistic shopping experience. "Our groundbreaking 3D interface simulates the look, feel, and touch approach", explains Danieli, who pioneered the idea in his early teens. "48% of existing online customers would shop more often and buy more products if retail websites were more interactive and engaging," he adds.
Alex describes how they are market-ready, saying, "Our product is beyond the testing and validation stage. Our product has been proven through over 50,000 shoppers who flocked in their droves to step through our virtual doors and shopped at over 100 retailers."
"The timing is ideal for Australian retailers, given that Amazon is set to disrupt the retail sector in Australia. Amazon's disruptive fulfillment solutions might have Australian retailers on the back foot, but retailers who can implement an effective omnichannel strategy will leave Amazon chasing them," says the founder. "Let's not forget that 46% of shoppers still compare online shopping to on-site shopping, and 55% find the brick-and-mortar shopping experience superior to that of e-commerce."
The 360 Mall's research shows that to survive Amazon, Australian online retailers should adopt innovative strategies to improve the shopping experience for their existing customers. A BETA site, that was headlined by SABA and Sportscraft, revealed that 50% of existing online customers want to be better engaged through more interactive websites and better product representation.
The innovative platform hasn't been live to the public since the BETA as the tech firm worked to enhance its product and build private solutions in coalition with large corporates at home and abroad. The 360 Mall has since raised over $100,000 seed capital and is backed by Slingshot Accelerator and leading early stage VC fund Artesian Capital. "Since re-opening our retailer program this month, we've attracted interest from over 30 high profile labels… and we have some big names launching next month," Danieli adds.
Danieli has since finished high-school and has been studying commerce and computer science at The University of Sydney and Stanford University. While studying, he worked at global mining giant Rio Tinto, one of Australia's big four banks, NAB, and Moelis & Co., the international investment bank. Alex says his corporate work experience positions him to take The 360 Mall to the next level.
"We have particularly strong interest coming out of Asia, but are keen to keep our focus local for the time being", Danieli concludes. Interested Australian retailers can get more information here: https://www.the360mall.com/retailers
Media Contact:
Alex Danieli
Phone: +61(0) 409 778 862
Email: [email protected]
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SOURCE The 360 Mall
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