Merchants face difficulty engaging potential and existing customers digitally. Instead of going solo, merchants who sell online have chosen to set up shop within digital shopping malls. Shopee is for selling products online, Grab is for selling food online. But what if you are selling products/services offline? Airmall is the solution.
We just launched our mvp and we have 10 stores using our loyalty software. We clocked over 1000 unique transactions in the first month, and 30% of the customers returned within the same month.
We also have a network of over 200 merchants in Vietnam with our previous membership app, Sweego. We're also in close partnership with major platforms in Vietnam, such as Shopee, Grab, Be, Cho Tot, and UOB.
We're looking at a total addressable market of US $8.3B in F&B merchants alone. Other verticals which we have not touched are services, entertainment, education, fashion and beauty & wellness.
Basically, any service products that require advertising or have a customer base that they wish to engage may be our customers. The adopting of digital solutions like ours will be on an upward trend due to Covid-19.
Problem or Opportunity
Covid-19 is forcing traditional minded merchants to adopt e-commerce and digital solutions, especially in SEA. Especially in Vietnam where most merchants are still very traditional, it is the best time for us to shift their mindset.
Solution (product or service)
1) Provide a SaaS loyalty cashback solution for merchants to retain loyal customers and own customers' data, and track earnings from these customers.
2) Help merchants advertise by placing them on our marketing partners (Shopee, Grab etc). As we are an aggregator of merchant vouchers/deals, the partners are happy to work with us instead of having to work with 200 individual merchants.
There is no major competitor in Vietnam. Most are still in the early stages. Cashbag, Hotdeal, Savyu.
Advantages or differentiators
1) We are Singaporean founds who are working on this in Vietnam 2) We have built a strong network of merchants and marketing partners 3) There is a barrier for merchants to churn because customers have outstanding cashback 4) Users who frequent our merchants will keep the app to receive and utilize their cashback 5) $0 CAC for both merchants and users.
1) Charge a fixed fee + % of cashback for the loyalty SaaS 2) Charge a quarterly advertising fee
We expect a 25k MRR in the next year.
The end goal is to be the Meituan Dianping of SEA. We want to be the main discovery app where every one will download to discover. The go-to-market strategy is the loyalty program and affiliate program, by onboarding all the merchants first.
Money will be spent on
● Product development to integrate our offerings, launch the Rewards App, and to refine it to a Discovery App. ● Increase the rate of user acquisition per store from Airmall Loyalty. ● Expand beyond the F&B vertical to Education and Beauty and Wellness. ● Increase monetization through paid listings and mall campaigns. ● Achieve profitability in the process.
Offer for investor
We're looking to offer 10% of our SGD2M valuation company.