Our world is marked by commodity overflow. The multitude of similar products at the department store can be confusing to the point where one can hardly decide what to buy, and so is the wide range of prices for highly similar items. Most of us believe that there is a correlation between the price and quality; if we know nothing about a certain product and would like to buy a good one, the higher price might be the only cue to go by . As consumers, we should get what we pay for, but is that really the case? Many sale strategies rely on the fact that we are in a hurry and that we are not as familiar with the product as we would like to be.
The second-hand market is even more difficult to navigate than the department store. The price setting can be quite subjective, and a small variation in price can stand for a vast difference in quality. The second-hand market is often described as a phenomenon with its own specificities, where certain compromises in terms of the price, quality and safety/reliability of the purchase simply have to be taken into consideration. For this reason, many people are reluctant to buy or sell second-hand, especially online.
According to Steenkamp , the level of correspondence between price and quality depends on the number of informed buyers on the market, who then apply pressure on the market in terms of adequate quality-price regulation. The Eligma e-commerce platform will offer the following solutions to ensure the price-quality ratio you are shopping for:
Smart buyers are informed. Eligma’s AI discovery informs you in a second
A smart buyer makes an elaborate comparison before buying. Online selling sites, however, are now becoming much too vast and numerous to be scanned by humans effectively. Eligma’s AI-driven smart discovery function does just that, however: it covers millions of online offers at different selling sites at the same time and strictly according to your search criteria, bringing only the most relevant offers for you to choose from, saving you lots of comparison time and memberships/accounts at different stores.
Smart buyers get what they want. Eligma’s AI seller finds it with one button click
With the multitude of goods available online, a smart shopper should be able to demand the product that meets the very need(s) that they envision. Someone requires low prices, someone very high quality, someone special features like durability, a special year of manufacture, a special material or colour. What happens when you enter the search criteria into Eligma? First, the category of your product will be recognized by Eligma’s smart discovery function. Then, the ‘AI agent’ feature will be used. Based on machine learning, these AI agents will specialize in certain product categories like real sellers – to be able to provide precisely what you need! Later on, this feature will also include a chatbot to ask the user additional questions if necessary. All this with one click of a button!
Smart buyers and sellers are protected.
Meet Eligma’s escrow and smart contracts
Ever heard the joke of a run-over phone having been sold online as ‘slightly used’? Unfortunately, things like that can happen. Both online sellers and buyers would need more protection. Of course, the sale through Eligma will also be able to be made in the traditional way, but there will be two unique features offered to make the whole process safer for both parties. One will be the Eligma escrow service – a function where Eligma will temporarily keep the buyer’s payment and the seller will have to deposit Eligma’s crypto tokens, ELIs, as a guarantee. The payment and the guarantee will be released to the seller if the buyer receives the goods in the agreed condition. The other function will be the use of smart contracts on the blockchain, resulting in a completely intermediary-free transaction.
It is the consumers and the sellers who make up the market, not vice versa. In order to take control of the price and quality relationship, both of these parties need to be treated fairly and protected. Eligma aims to be a major step in this direction.
Eligma. Shop smart – shop with AI!
Eligma’s crowdsale starts on April 17.
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