NEW YORK, April 16, 2018 /PRNewswire/ -- Shopin, the first universal shopper profile that delivers the most personal shopping experience on retailer websites, apps, and stores using blockchain and Artificial Intelligence, today announced a partnership with TRAUB, a global consumer and retail corporate and business development firm.
The TRAUB team will assist Shopin in market education and will take a leading role in the outreach process for prospective retailers to join Shopin, a decentralized shopper network that empowers retailers to offer a new paradigm in personalized and secure product recommendations to their consumers designed to deliver a significant lift in transactional conversions.
TRAUB's CEO Mortimer Singer and Senior Associate Michael Boord will join the Shopin Board of Advisors.
"When the world of retail looks for innovation, they turn to TRAUB and its legacy of success in assisting retailers achieve growth objectives," said Eran Eyal, CEO of Shopin, and a serial entrepreneur with three exits as a founder and more than a decade of experience in retail and ecommerce. "We are thrilled to be partnering with TRAUB in this venture that we believe will help bring Shopin to the world of retail for mass adoption. Our unique vision for how blockchain technology, A.I., and cryptocurrency can create a more sustainable global retail economy is exactly what the ever-changing retail sector needs. In today's environment, shoppers should be in complete control of their personal purchase data to share with retailers for the most amazing and secure shopping experience possible."
The Shopin shopper profile ensures the best opportunity for shoppers and retailers to consistently share personal shopping data with a cryptocurrency to reward them when their attention is engaged with ads, content, and loyalty. Additionally, Shopin provides immediate General Data Protection Regulation (GDPR) compliance, which strengthens data protection for individuals within the European Union (EU). GDPR compliance is also critical for US-based multinational companies doing business within the EU.
"We have been following blockchain developments closely for some time, and the technology used as a distributed shopper profile has tremendous potential to optimize critical security issues within our industry, as well as significantly enhance the consumer experience," said Singer. "With the current issues surrounding the security of user data, we are pleased to partner with Shopin and its mission to create a retail environment that respects user privacy while at the same time empowers retailers to succeed."
Singer is also the CoFounder and Chairman of Orchard Mile, an online luxury marketplace, and he serves on the Board of Trustees of Parsons The New School for Design, among many other organizations and causes.
"The utilization of blockchain technology will streamline critical aspects across a number of industries, and Shopin's application of blockchain will help retailers provide a better shopping experience to their shopper base through smarter product recommendations and reward incentives," said Boord.
In two significant 30-day pilot programs, Shopin demonstrated the effectiveness of offering shoppers a more personalized and rewarding retail experience. Each retailer invited their registered customers to create a Shopin profile, resulting in 719,000 sign-ups, a 22% lift in conversions, and $14.7 million in sales.
"One of the many challenges facing retailers today is they don't have the benefit of a deep understanding or a 360-view of their customer's first-party purchasing behavior across all platforms," said Michael Herman, Shopin CRO, and former President of Global Sales at Elie Tahari who has worked with luxury brands Natori, Donna Karan, DKNY, Wacoal, and Valentino. "This is a key solution that Shopin provides. No longer will the shopper have to go hunting for the products they desire, instead the products they love will find them."
Shopin recently finalized its Private and Public Presale, raising a milestone $40 million. The Shopin Public Sale is currently underway until the end of April.
For more information about Shopin please visit Shopin.com.
Shopin is a universal shopper profile that delivers the most personal shopping experience on retailers' websites, apps, and stores based on shopper preferences and purchase history data. Shoppers are in full control of their data for the first time with a cryptocurrency to reward them when their attention is engaged with ads, content, and loyalty. Shopin empowers retailers to offer better product recommendations, easier and more secure transactions, and more valuable customer rewards using blockchain and Artificial Intelligence technology. Voted "Best ICO" at the North American Bitcoin Conference 2018, "Best ICO and Startup" by CoinAgenda Global, and the #5 "Top ICO" at Davos d10e, Shopin's vision is to create a more sustainable retail economy where retailers become stronger by working together with their consumers. Headquartered in Brooklyn, New York, Shopin is backed by Galaxy Investment Partners, Nima Capital, Passport, Block One Capital, Outbound Ventures, and angel investors from Google, ZocDoc, the founders of DocuSign, Wiser, and others. Shopin is revolutionizing the world of retail. Learn more about Shopin and our Token Sale at www.shopin.com.
TRAUB is a global business development advisory and investment firm. We work with and invest in companies in the retail, consumer, fashion, and luxury industries to optimize and accelerate their businesses cross channels, geographies and classifications of product. At TRAUB, we help transform business strategies into realities. TRAUB's divisions include Advisory and Capital. Our team includes a talented network of internationally renowned operating partners and industry experts that customize advisory services to assist in the execution of a variety of business initiatives.