| Project Detail |
When buying a pair of running shoes, would you trust a peer who just ran a marathon or a sales person who might work on commission? The latest web and mobile technologies enable us to connect with people across time and space. ibbü takes qualified peer advice to the next level: we can directly connect with peer experts and get their advice.
Our solution ibbu¨ brings together brands (demand-side) with experts (supply-side) to convert consumers (end-users) into shoppers within a conversational commerce marketplace based on a shared economy model. Brands manage their campaigns as they wish. Savvy peers are curated by ibbu¨ based on criteria that highlight expertise and skill.
We already have 22 brands and 150 active experts with 300,000+ advices through ibbu¨. We are now focusing on the existing iAdvize clients and are evangelizing further fast-moving consumer good brands starting with the different retail channels. We calculate our market size based on the retail market we will penetrate with a TAM of $340 billion, SAM $200 billion and SOM of $20 billion.
ibbü generates an average of €1.23 per chat based on direct revenues, i.e. 16.67% of the commission of the brand’s payments to the expert and on indirect revenues, i.e. we charge our clients (brands) €0.90 to set up each chat.
ibbu¨ can help respond to the challenge of unemployment and social inclusion by having citizens profit from the shift to e-commerce and less retail shelve space. Also, whilst the gap between female and male unemployment has narrowed in the past, it still remained high and ibbu can help reverse that. The shift from brick and mortar to e-commerce can also benefit citizens: they can profit from becoming the middle man and secure an income for sharing an honest opinion.
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