As the old saying goes, there are only 3 things in life that are certain. Death, taxes, and merchants doing anything they can to maintain an edge in the cut-throat business of retail…Well, perhaps the quote is not written exactly like that, but that does not detract from its truthfulness. In the last decade, we have seen the proliferation of cheap imported goods, huge 1-stop shop department stores on nearly every block, and the ability to find needed items quickly and easily online. All of these factors have contributed to the steady decline of already thin margins in the retail sales sector. Customers no longer care about being loyal to certain brands…they care about cost, quality, and convenience in that order, and the emblem on the back of the item or the store they bought it from is becoming less of a factor as time progresses.
We have seen retailers play all the tricks in the book to attract and retain customers. From half-off flash sales, buy one get one free, to even more unscrupulous tactics such as posting misleading ads for discounts too good to ignore, only to tell you the item is already out of stock when you get there (inevitably coercing you into a dreaded game of ‘upsell’). Single solution loyalty programs are everywhere, and nearly all merchants both big and big and small have tried some type of incentive-based reward system to keep consumers spending. However, consumers are sick of wallets overfilled with special cards, stamp books, and multiple apps crowding up their phone space. Plus the rigid structure, low payout, and length of time needed to redeem something worthwhile are anything but enticing.
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In the last few years, we have seen some adoption in platforms such as “RetailMeNot”, “Ebates” which is owned by Rakuten Inc. (NASDAQ: RKUNF), and Groupon Inc. (NASDAQ: GRPN) which allow people to save at a variety of stores and either get cash back in hard currency, or save a certain percentage through digital coupons. However, these platforms are plagued with issues that have prevented them from gaining serious mass adoption. Temperamental software that doesn’t properly track sales, slow/archaic payment methods such as mailed checks, non-intuitive reward redemption such as receipt scanning, and coupons that are limited by terms, conditions, and redtape. All of this amounting to a sizeable level of effort for the consumer to earn back an amount that is nothing to get excited over in the first place.
What if there was a better option though? What if, like the aforementioned systems, there was one single app you could download into your phone to save with all of your favorite stores…but unlike those antiquated systems, it offered an easy to navigate user interface, quick redemption of balance at any time, the ability to cash out into cryptocurrencies as well as hard currency, and a no-hassle purchasing/redemption process? What if on top of all those never before seen together features, it even helped you earn additional rewards from the purchases of others who also use the app, which could amount to hundreds of dollars extra in your account each month or more?
While many would caution that the above description sounds too good to be true, not only is it a real concept, but the app actually already exists. Currently, it is in operation in Colombia where it has been working flawlessly for over a year and a half with tens of thousands of people using the app to earn serious rewards on things they buy every day, and very shortly it will be launching in the USA too. It’s called “Fluz Fluz,” and at its core, it is a ‘cash back rewards co-op’ that allows people to shop, save, and earn from others simply by pulling out their phone and tapping a few buttons. Co-op’s are a centuries old strategy used by consumers to garnish better prices on goods and services. They accomplish this by forming a cohesive group that pools resources, allowing them to buy things (most traditionally food) at discount prices. This group of consumers all work together for the betterment of the entire pack, and the bigger the co-op, the stronger it becomes. Fluz Fluz is revolutionizing this potent model by connecting people digitally within its app, and broadening the reach of the available products members can get better deals on.
Brick & Mortar stores plus online retailers, no merchant is too big or small to become part of the Fluz Fluz ecosystem and see the benefits of utilizing our wide consumer base. The Fluz Fluz app will empower consumers with its wide array of options, ensuring users won’t have to change their shopping habits in any way, and they will earn cash back on purchases they make from any of the retail partners on our long list. Retailers also win out, as they get to forgo their ineffective single service reward platforms for something that customers will enjoy using, and can reach out to a large community of highly dedicated shoppers all at once.
The growth of this platform will be unlike any other cash back app to date. This is due to the explosive nature of how the app encourages current users to influence their friends and family to join. As previously mentioned, people using the app not only earn cash back from their own purchases, but will earn rewards when people they have a connection with through the app purchase as well. Connections don’t even need to be made directly, because not only do users earn from people they specifically invite, but from people invited by those new users, and the new users they invite as well. This pattern can continue for 15 layers throughout the structure, hence the “exponential” pattern of growth. Fluz Fluz will also be a heavy influencer as well, as when they advertise the benefits of the app through their own avenues, anyone joining without an invite code will be “auto-filled” into the global co-op in a fair and even manner, ensuring steady growth and allowing users to earn rewards from people they don’t even know.
At the end of the day, retailers want to incentivize consumers to shop with them, and consumers want to feel like they are getting a good deal without being burdened by countless low-velocity reward platforms. Fluz Fluz solves all of these problems and can help users earn more money to help make ends meet as the cherry on top. If you would like to learn more about the project and how you can get placed into the core of the co-op structure early, you can join the bustling community on Telegram where key members of the Fluz Fluz team are all interacting with each other daily. Hope to see you there! https://t.me/FluzFluzRewards
Disclosure: The opinions expressed in this article are Insider Monkey’s writer, Alex Oleinic’s. Alex doesn’t have positions in Rakuten Inc. (NASDAQ: RKUNF), and Groupon Inc. (NASDAQ: GRPN) and other stocks mentioned in the article. Insider Monkey received compensation in exchange for publishing this article. Insider Monkey doesn’t recommend purchase/sale of any securities, cryptocurrencies, or ICOs. Please get in touch with a financial professional before making any financial decisions. You understand that Insider Monkey doesn’t accept any responsibility and you will be using the information presented here at your own risk. You acknowledge that this disclaimer is a simplified version of our Terms of Use, and by accessing or using our site, you agree to be bound by all of its terms and conditions. If at any time you find these terms and conditions unacceptable, you must immediately leave the Site and cease all use of the Site.
