Local micro, small and medium businesses (MSMBs) in major cities face major challenges to be successful because of higher operating costs, hard to reach new consumers, competition from big box stores, and limited resources for effective marketing.
Local MSMBs need integrated and cost-effective services to help them to expand their businesses. They want to provide consumers with incentives that are sustainable and to build up a long-term relationship with consumers through unique and personalized services. Therefore, there is a need to apply e-commerce strategy to enable MSMBs to be competitive in an e-dominated world by attracting consumers to come to their stores.
Vouchers and coupons are often provided by merchants to gain increased business from consumers by enticing a consumer to transact with the merchant for the very first time in the hopes that they will become a regular customer.
AirMSMB Inc., a Canadian company, proposes to provide a multi-region, multi-tenant e-commerce platform (BizMSM.com) to help local MSMBs involved to grow and compete by attracting consumers to come to or visit their stores. It allows MSMBs to open online stores and sell discount vouchers effortlessly, and consumers to buy vouchers from MSMBs for their consumption or send as gifts to friends and relatives.
MSMBs pay a very small transaction fee when there is a successful sale, making it a true “pay for performance” online market place. Part of the transaction fee is used to reward consumer’s recommenders and regional service managers of the service.
In the BizMSM.com platform, all transactions are protected by patent-pending blockchain technology. As each transaction occurs, it’s encoded into a block of uniquely signed digital data. The newly created block is then chained together with older blocks creating an irreversible and immutable chain. As a result, all validated transactions are permanently recorded; even a system administrator cannot delete or alter a transaction. Also, MSMBs and consumers can download all their transactions for private storage. They can also validate all transactions either online or offline at any time.