It seems like yesterday when I met with my lead developer to discuss the viability of an idea for what is now a thriving startup called RainCheck.
Now here we are only 9 months on and off to Cannes as the only Australian startup for the Lions International Festival of Creativity, invited by Unilever as part of their Foundry50 program – a global search for the top 50 marketing technology startups.
Ever since I can remember, software and platform design has always been about IFTTT (If This Then That), and designing RainCheck was no different.
Certain other things had to happen before other things could happen. For example, BLE v.4.0 (Bluetooth) needed to “wake” an App on a Smartphone before anyone could realise a benefit.
I gathered a world-class team with over 65 years’ combined experience to originally solve the problem of online shopping cart abandonment, which is around 75% in retailand worth over $4Trillion globally.
During our research we uncovered some interesting insights;
- Firstly, eCommerce isn’t exactly taking off in retail, like we have been led to believe
- Secondly, everyone now has their computer in the palm of their hand while shopping
In 2010, the eCommerce contribution to retail figures in Australia sat at 4.4%. At the time, Gerry Harvey, founder of Harvey Norman (one of Australia’s largest retailers), stated “why would I be worried about eCommerce at that rate”. Everyone including myself thought the guy was mad, buying online will take off and be huge!
Fast forward to 2015 and that figure is 6.7%, so in 5 years it has only grown 2.3%, hardly booming is it?
With new marketing jargon arriving such as “omni-channel” and “connected store”, and brands and agencies trying to understand shopper behaviour, we saw an opportunity.
If so many people are in fact shopping online, yet 93% are still buying in-store, the market needed an online to offline solution, and RainCheck was born.
Our vision is to be the world’s leading Online-to-Offline (O2O) shopping enabler.
We are dedicated to bridging the gap between online and offline for retailers – feat no company has achieved globally, yet.
By combining the most innovative technologies onto one platform we offer a seamless journey from online to offline for both retailers and shoppers.
- For retailers, RainCheck is the world’s first mobile-only O2O Commerce platform that helps close the data loop from online to in-store via the Cloud, Beacons and Proximity technology
- For shoppers, RainCheck is a virtual shopping wishlist that notifies them of items they like online when they enter physical stores
We’re on a mission to capture the $50Billion of abandoned items online each year in Australia, and convert them in-store where the value of multi-channel shoppers is much higher.
We are launching in our local Australian market first as it’s ripe with very high Smartphone use on top of a savvy shopping community.
We see Asia as our progression path next year once we prove the platform, as they are a “mobile-only’ region where O2O Commerce is already huge.
We’re excited by the prospects ahead and hope you’ll join us on this journey. I will be sharing more on LinkedIn as we go so please check-in regularly for updates.
Feel free to email me directly at firstname.lastname@example.org and visit our website for more information – http://www.getraincheck.com/