A recent data study conducted by digital services and solutions provider Avionos revealed that 55% of its consumer base made purchases via social media channels. Social commerce generated around 6.5 billion dollars in sales for 2017 [top 500 retailers], a 24% increase when compared to 2016. With 3.196 billion active social media users globally, social commerce is making companies rethink their online strategies.
Even when social platforms don't push huge volumes of customers into an ecommerce environment, experts suggest that the users coming in via Social networks have a much higher buying intent as their purchase decision is already advanced.
The integration of social media and e-commerce is indeed an exciting prospect. Local merchants, as well as retailers, can use these integrations to connect with relevant audiences directly. But the concept of social commerce is not without its complications, Social media websites get updated with tons of user posts, and their relevance can be limited. Consumers still face friction in social commerce platforms as buying methods are relatively new to the customer.
AI seems to be the solution as it helps in finding the right content to an individual's preference. E-commerce consumers also suggest that AI will lead to faster checkouts. While Social commerce is growing, holistic platforms backed by technologies like AI and Big data seem to bring working solutions for the real world user.
Release - decentralized Social Commerce platform
Release is a revolutionary social commerce project leveraging on Blockchain technology, Big Data intelligence, and Artificial Intelligence to reinvent the social media experience. Unlike other social media where social commerce is just a subset, Release's platform makes Social commerce its core emphasis.
The Release social commerce platform is already up and running connecting its users with the relevant information.Contributors on the Release platform can post articles, which will be classified into 13 information categories. Release seeks to provide quality niche information following the "everyone's news website" concept as users will be able to post niche topics which may not be covered by conventional media.
Release runs on the blockchain facilitating better information management, security, and rewards. The REL Token is used by Release to reward contributors with points based on the viewing frequency of their respective articles. This will lead to the creation of relevant and high-quality information. The platform also rewards users who evaluate the content posted on their network based on how helpful their comments are.
REL tokens can be further used to purchase products, skills, and services within the social commerce network. The token can also be exchanged with other cryptocurrencies when it gets listed on popular exchanges.
Release uses Big data to break down customer purchasing behavior. By using AI and deep learning Release's search algorithm can understand user intent and connect them to the most relevant info.
The platform's feature sets are very similar to popular networks like Facebook, Instagram, and Twitter, which will be aided by ecommerce integrations. By combining all the feature sets natively on to the blockchain, Release's platform will have a superior user experience when compared to the likes of Facebook and Instagram.
E-commerce emphasis is given to agriculture and fishery, where sellers can list their produce which buyers can directly purchase thus eliminating any middlemen involvement.
By combining its social commerce platform with blockchain, big data, and AI, Release will give superior information to users on its user base. By using token-based rewards contributors and evaluators are rewarded and this, in turn, will help the platform in providing reliable data to regional user bases. REL tokens can be exchanged with other cryptocurrencies or can be used to buy products, services, and skills in the platform.
Thus by integrating the concept of rewards and information evaluation, Release will facilitate the next generation of social media and further development of the Internet.
Currently in the 4th Stage of its token sale, Release expects to release its fully-fledged platform by 2019.
Name : RELEASE Co., Ltd.
Email : firstname.lastname@example.org
Telegram Group : https://t.me/release8