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It is an accepted fact that customers love sales - and the bigger the discounts, the better. Major online marketplace Flubit is doing things a little differently to most retail outfits, however. Flubit is not merely aiming to attract shoppers looking for a bargain - it’s also aiming to give cryptocurrencies a boost at the same time, thereby helping to bring them further into the mainstream.
Announced in London last week, Flubit’s sale began on February 14th and offers a worldwide discount of 25% off all stock, including laptops, beauty products, video games and more. According to the Flubit website, the online marketplace claims to offer over one million items at a lower price than its main rival, Amazon.co.uk, each week. To take advantage of the discount, customers must pay with MUE (MonetaryUnit), Flubit’s digital currency.
Bertie Stephens, Co-Founder, and CEO of Flubit.com had this to say about the sale:
“We have never before seen savings like this for online shoppers. Where else can you get significant savings on Amazon prices? This “25% off” offer applies to all of the millions of items we sell; so you can save on the latest video games, laptops, perfumes, books, coffee machines, clothes and more. We believe this is set to disrupt online shopping and really bring into focus the huge benefits that can be realized when using digital currencies as a method of payment”.
MonetaryUnit was launched in 2014 and last year acquired the rights to run the Flubit.com retail platform, with the goal of creating the biggest global crytpo-enabled marketplace. Flubit are aiming to build on this success and disrupt the traditional online shopping model, with the platform expecting to flourish in 2019.
According to Byron Barnard – who was responsible for founding the MonetaryUnit blockchain project – it’s important to demonstrate to people the benefits of digital currencies, and not simply tell them.
“Our mission is to show why digital currencies will benefit you; we believe offering these massive savings will be the breakthrough for mass adoption. What better way to do it than by creating the cheapest online marketplace in the world?”.
Recognising that many consumers will be unfamiliar with using digital currencies, Flubit has created a user-friendly 3-step guide to help get them started. By using the guide, shoppers will be able to install the free MonetaryUnit digital wallet, top-up MUE funds and then order their goods just as they would with a standard debit/credit card payment system.
Flubit state that MUE is not the only digital currency usable on the platform, with Bitcoin, Litecoin and Ethereum also catered for. In addition, Flubit is keen to stress that it has a strict vetting policy in place regarding which merchants it accepts. Only verified merchants are allowed to sell via the platform. This has the effect of increasing security, reducing incidents of fraudulent activity and improving the overall customer experience.
Flubit is plainly aiming high with its combination of major discounts and digital currency-friendly payment system. If the platform can continue to evolve its online shopping experience while maintaining a secure retail space with products at great prices, it has the potential to become a household name.
Last modified (UTC): September 12, 2019 12:43 AM