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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - ibbu (Connecting expert enthusiasts with potential shoppers within a shared economy model)

Teaser

Summary

When buying a pair of running shoes, would you trust a peer who just ran a marathon or a sales person who might work on commission? With the Internet and online marketplaces, we can consult peer recommendations and reviews from experts. The latest web and mobile technologies together with smart phone ownership enable us to connect with people across time and space. ibbuÌˆ takes qualified peer advice to the next level: we can directly connect with peer experts and get their advice. And we can also become an ibbuÌˆ expert to share our passion!
Our solution ibbuÌˆ brings together brands (demand-side) with experts (supply-side) to convert consumers (end-users) into shoppers within a conversational commerce marketplace based on a shared economy model. Brands determine the profile of savvy peers they will need for this campaign. Savvy peers are curated by ibbuÌˆ based on criteria that highlight expertise and skill. Experts are able to answer the questions from online shoppers and support them throughout their website browsing.

Work performed

In 2018, we had 80 brands and more than 500 active experts with 1,8M conversations through ibbuÌˆ. We are now focusing on the existing iAdvize clients and are evangelizing further fast-moving consumer good brands starting with the different retail channels. We calculate our market size based on the retail market we will penetrate with a TAM of $340 billion, SAM $200 billion and SOM of $20 billion.

Final results

ibbuÌˆ can help respond to the challenge of unemployment and social inclusion by having citizens profit from the shift to e-commerce and less retail shelve space. Youth unemployment rates are generally much higher than the general unemployment rate for all ages and was 20.3% in 2015. It is likely that at least 50% of the peer experts signing up for ibbuÌˆ will be in that age group. Also, whilst the gap between female and male unemployment has narrowed in the past, it still remained at 9.2% female vs. 8.9% male unemployment in 2015 and we can help eliminate this gap entirely as Over one half of our experts in France are female. The shift from brick and mortar to e-commerce can also benefit citizens: they can profit from becoming the middle man and secure an income for sharing an honest opinion. Over time, this will profit the best brands and the most knowledgeable people and help shift the paradigm from sales as in haggling to sales as in helping and providing a real service.