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Reckoon’s Blockchain & AI Enabled Solution is Shaping the Future of the Retail Industry

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UK-based Reckoon announces details of their blockchain & AI enabled, “global shopping platform as a service” via their proprietary Global WishBasket Shopping Protocol (GloWS)

Reckoon is set to disrupt the retail industry through its proprietary blockchain-based Global WishBasket Shopping Protocol (GloWS) – a standardized and universal way to fulfill shoppers wish baskets using smart contract to execute a better outcome for retailers and shoppers.

In furthering this goal, an initial exchange offering will be conducted to give early backers the opportunity to support Reckoon in pivoting the next-generation shopping ecosystem.

Since the advent of online shopping in the late 1970s, the commerce industry has experienced exponential growth, to the extent where current global market estimates are set to breach the 28 trillion U.S. dollar mark in 2020. Whilst this growth has helped to bridge the gap between shoppers and brands, a host of other problems still exist, including disconnected online/in-store shopping models, siloed marketing, and constantly shifting consumer behaviours. This hampers shoppers’ experiences.

Despite the plethora of existing e-commerce and online retail stores, the gap between retailers and consumer satisfaction only seems to widen as no single platform is able to offer a sustainable solution for those in the value chain.

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Reckoon’s All-Encompassing Solution: GloWS

Reckoon is taking the bull by the horns by introducing a blockchain & AI-based “Global Shopping Platform as a Service”, that dynamically connects brands, existing retailers and shoppers. The platform will seek to capture customers’ behaviours and translate them to optimized unique experiences, whilst allowing consumers control over their data.

At the core of the End-to-End shopping ecosystem is the Global WishBasket Shopping Protocol (GloWS). It will leverage a sophisticated blend of smart contracts and artificial intelligence to give the retailer a deeper insight into the intent of the shopper and will facilitate inter-retailer collaboration for a better outcome for both retailers and shoppers; thereby improving brand authenticity, sustainability, and overall shopping experience.

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Priya Vrat Misra, Founder of Reckoon noted:

“We believe the future of shopping will be driven by shopper’s intent & supported by technology that blends the online + in-store shopping journey.”

The platform features a decentralized shopping ecosystem with seamless integration of online and in-store shopping designed to fulfill the desires of the value chain participants – shoppers, and retailers.

For Retailers:

  • Reckoon will significantly reduce capital expenditures of a retailer/brands by providing the shopping platform as a service
  • The opportunity to set off a chain reaction of increased customer satisfaction, sales opportunities, and revenues
  • Improve online/in-store shopping exposure
  • Provide an improved market for local goods
  • Targeting Gen Z, and Millennials – A major quadrant of the online retail ecosystem
  • Applying streamlined marketing strategies to cater for trends and inclusion marketing, making shopping more personal to the individual shopper
  • Improve brand loyalty among consumers

For Shoppers:

  • Reckoon uses AI to analyze the shopper’s intent based on their wish basket and suggests relevant shops, brands, and products in line with trends with personalized effects.
  • Provides a seamless transition between online and in-store shopping
  • Allows shoppers to benefit by having a single login for all their shopping activities
  • Provides a personalized shopping experience via deals, information about local and global trends/advice, and geolocation services
  • Gives back control to shoppers to manage their personal data
  • Provides Loyalty and charity programs for users

Priya Vrat further adds:

“If online is great at social-discovery and validation with friends, in-Store is supreme in serendipitous-discovery and instant gratification. Reckoon is creating the ecosystem of shopping to leverage the social power of online with the satisfaction of physical experience.”

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