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Does the online market need Blockchain?
“Not yet!”, say the salesmen.
But in vain…
Alas…Gains are big!
The global online market that exists today has some negative aspects, in addition to a huge number of its advantages, which are the cause of stagnation, if not entirely preventing its further development.
Unlike offline, this market has a greater degree of their information closeness. Its location which is a virtual world often allows hiding information about many aspects of the process, from the production of market goods to selling online to the buyer.
Transparency of such producers/consumer chains is the primary market problem that concerns not only the direct participants but also regulators beyond the market.
The end-buyer that purchases the goods in the online market is extremely interested in the openness of information, no less interest comes from the sellers.
Of course, we should note every manufacturer builds its communication channels with suppliers, customers and related business players in the market. This relationship building often has a purely mercantile economic goal: to get the maximum benefit, often to the detriment of the market (often neglecting to account such factors as health, security, ethics).
Sometimes manufacturers and sellers of clothes and shoes, interested in obtaining short-term benefits, like to inform the buyer about the many characteristics of the goods as little as possible.
These are subjective factors of the information closeness for buyers.
But there are objective factors. Not touching the discussion, the variety of information closeness of the online market clothes and shoes, focus on the most, in our opinion the main reason hindering the development of the market.
Now online clothes and footwear purchases are happening as if blindly. Today, all online buyers of clothing and shoes don’t know if the product size will fit. It’s called: “to buy a pig in a poke”.
The buyer risks with such purchases. The lack of reliable information regarding the fitting degree of goods, often purchasing the product in the wrong size, creates a negative impression about the online market of clothing and footwear and makes questioning the very idea of virtual sales in this segment.
We observe the process of market stagnation, contraction in consumer traffic to small stream formed with steady customers who repeatedly buy tested clothing and shoes from the pool of familiar brands.
The only way to stop the rate of stagnation of the clothing and footwear online market is to remove the causes, namely, to make possible an open and reliable provision of all necessary and accurate information.
What information do the market players need?
The online customer is interested in information about the range and quality of the product and most importantly if the size will fit, whether, for example, bought the shoes will be comfortable to wear?
For online sellers, it’s important to know how goods are sold, what the buyers choose in the local and temporal boundaries of the sales, is it comfortable?
The manufacturer is interested what product the market demands, which is important to produce, what demand?
Rating agencies require information about the market, the ratio of supply and demand, assessment of participants…
Investment-financial structures are interested in information on financial flows, the efficiency of investment, etc.
For market regulators, it is important to know information that will help solve the problems not only from the economic perspective, but also from the standpoint of ecology, health, anti-fraud, counterfeiting, Сustoms violations.
But how to create such an open, independent, reliable information system on the online clothes and footwear market?
There must be the initiator, proposing innovative solutions to problems.
The Imigize Service Blockchain platform can be one, constructing a blockchain ecosystem in the online market. https://imigize.io
Imigize contactless 3D clothes and shoes fitting service information resource connected to the Big Data technology and the Blockchain is able to act as a system-forming factor for the new ecosystem.
This is the data that previously simply did not exist or was unavailable to all participants. First of all, this is an information on size fitting degree and comfort of purchased online clothes and shoes.
Imigize was able to do what previously was considered impossible. It has developed a service of a contactless 3D fitting, thus making a technological breakthrough in solving the problem of buying clothes and shoes online.
This technology can be used for shoes and clothing fitting. To date, the project for the fitting of shoes is implemented, as the simpler one. The next stage is contactless clothes fitting.
Imigize contactless footwear fitting service is based on the technology of 3D measurement and includes three components:
Creating three-dimensional models of the footwear internal volume.
Imigize uses innovative technological solutions in its approach to the measurement of the shoes, which have recently been developed and found application in the field of non-destructive industrial control for the aircraft industry and microelectronics.
The result was the possibility of constructing a full three-dimensional model of the measured footwear internal volume.
Imigize technology provides an opportunity to measure almost all the products produced by the world’s footwear industry. This refers to any model of men’s, women’s and children’s shoes for all occasions and uses.
Anthropometric feet scanning of customers is also produced in 3D. Two methods are used for these purposes:
- portable scanners installed in pickup points of the online shops or in traditional offline stores.
- Mobile application in App Store and Google Play
Aligning the 3D model of the foot a potential buyer with the internal volume of the footwear 3D models, the Imigize selection algorithm based on neural networks with high accuracy reports through online store widget what kind of shoes are most suitable for that buyer and, moreover, evaluates how comfortable is this model.
Service users will be able to buy footwear (and soon clothes), which have been selected in accordance with sizes. The customer by accessing the store’s website and entering their ID code immediately receives a selection of goods that definitely will suit him in size and meets all his preferences.
The Imigize Service Blockchain platform generates, structures and stores:
- all anthropometric customer’s data,
- the internal volume data of the measured clothes and shoes,
- the fitting degree sizes of clothing and shoes purchased in stores,
- the data on individual profiles of clothes and footwear comfortability for every buyer,
- the Imigize service evaluation and service in stores,
- buyers’ ratings of the quality of the purchased goods,
- rating assessment of interaction of all online market participants,
- purchases and sales statistics,
- Analytical market reviews in terms of marketing, financial investment and production levels.
The Imigize Service Blockchain platform is designed to unite all footwear sphere players on a new level of confidence in the technology of contactless fitting that provides convenience, reliability and low cost of shopping shoes online.
This platform will be able to offer the online clothing and footwear market Participants following valuable benefits:
Dimensional fitting degree and comfortability of clothes and shoes decentralized data.
Open data and transparent operations for the production, supply and sales of clothing and footwear online.
Verifiable data about the quality of product and service based on ratings.
Realistic figures on prices and the dynamics of their change.
Data on the demand and market proposals
Customers will be able to evaluate and choose a product not only according to the criteria of style, function, quality but also in fitting degree size and the assessment of comfort.
Sellers, dealers and distributors will be able to shape their supplies, correlating them with the results of the fittings and purchases and be able to react quickly to changes in supply and demand in the footwear market.
Manufacturers will be able to control online the process of goods production that satisfy customers.
This coordinated communication from production to the consumer will provide an opportunity to create a functioning model of modern in-line, bringing the era of Industry 4.0
Rating company including internet search services like Google, Baidu will be able to monitor the state of the market constantly and provide the necessary evaluation information to all players.
State regulators will begin using the Imigize Service Blockchain data to ensure the environmental safety and efficiency of the technologies of footwear production.
Financial institutions and investors will be able to obtain more detailed and timely information for effective financing of the sector.
Imigize Service Blockchain will allow distributing the service beyond the scope of individual regions to the entire global network of trade and production of shoes and clothing. It is expected the system will unify and serve the entire world market of shoes and clothing, providing many benefits to all participants in 10-15 years.
Does the Online Market Need Blockchain?