🚧Why does Zeo exist?: Solving E-Commerce's Biggest Flaws
Problem Statement
The traditional e-commerce model, while successful, has significant flaws that hinder user experiences and economic potential. These challenges have persisted for years, stifling innovation and limiting the transformative potential of online shopping. Key issues include:
1. Centralized Control Limits Consumer Power
Large platforms like Amazon dominate the e-commerce landscape, controlling pricing, product visibility, and user data. This centralization leads to higher costs, limited transparency, and fewer opportunities for smaller sellers. (Statista, Reuters)
2. Lack of Social and Collaborative Shopping
Online shopping often feels isolated, missing the community-driven experience of in-store interactions. Social commerce is booming, with McKinsey predicting it will grow 3x faster than traditional e-commerce. (MDPI, McKinsey, Deloitte). According to Porch Group Media, 87% of buyers believe social media influences their shopping decisions, 66% make purchases after seeing others’ social media posts, and 39% are motivated to use social commerce more due to deals and discounts. (Porch Group Media)
3. Barriers for Smaller Businesses
High fees and limited visibility make it hard for smaller sellers to compete. Reports from the Competition Commission of India and WSJ highlight how platforms like Amazon and Flipkart favor select sellers, marginalizing others. (Reuters, WSJ)
Decentralized ecosystems have the potential to level the playing field by reducing costs and increasing visibility for smaller businesses, empowering them to thrive in a competitive market.
These challenges call for a revolutionary solution that empowers consumers, decentralizes commerce, and unlocks the true potential of AI and blockchain technologies. Zeo is that solution.
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