Polkadot JAM Slides - Token2049 - By Dr. Gavin Wood
Mjedi101109
1. Mjedi.com
Awarded $25K from CTIA as a Top
Innovative Mobile Startup
Mjedi
Mobile Social Commerce
2550 3rd Avenue
Chander Chawla
Suite 610
Founder and Chief Servant
Seattle, WA 98121
Chander.chawla@mjedi.com
Mjedi.com
+1-425-443-6626
2. Who?
Mjedi Founder has Strong
Innovation Adoption Background
• 12 years in Wireless Industry
• BSEE + MBA
• Highlights
– Grew T-Mobile WiFi business 4000%
– Managed a $600M P&L to add $150M in EBITDA
– Accelerated the Adoption of 3G in the US
• Blog: cdoq.blogspot.com
• Lecture at MIT on Adoption of Innovations: http://cdoq.
blogspot.com/2009/03/next-billion-netwok.html
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3. What?
Retail is Living in the Past
• If You Spend Half Hour in a Store and Walk
Out without a Purchase, the Retailer has No
Clue What You Did In the Store
• Retailers Are Trying to Figure Out How to Use
Social Media and Mobility
• Fashion Retail Has Inventory Problem
• Customers Have No “Pull” In Retail
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4. What?
Mjedi Enables Customers to Capture
Items they like, in Real-Time
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•UPC (Universal Product Code) is the number below the barcode which is a
unique identifier for the product
•A woman, Tina, goes shopping and likes a product. She types the product
UPC as an SMS/text message and sends it to Mjedi
•The product will show up on Tina’s Facebook Status update with pictures
and details provided by the retailer (including Retailer’s brand)
•Tina’s friends can comment on the product and provide feedback
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5. What?
Mjedi Encourages Repeated Store
Visits and Purchases
•When the dress goes on SALE, Mjedi will send and an SMS to Tina suggesting
her to go to the store
•Tina may go to the store, buy the dress and may send more text messages
about the items she likes at the store
•Alternatively, if the dress is nearly Sold Out, Mjedi will alert Tina that she
should hurry to the store or risk missing out on the item
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6. What?
Mjedi Enables Sharing and Mobile
Notification
• Customers Capture Interest at • Mobile Notification from
the Retail Store to Share with Retailers to get Customers
Friends back in the Store
•Product Picture & Details •Change in the Product
shows up as Facebook Price
Status Update •Change in the Product
•Friends can “Like” and Inventory
Comment •Personalized Offers
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7. Why?
Retailers Will Get Real-Time Shopper
Feedback
Retailer Benefits:
•Increased Revenue
Mjedi •Decreased Costs
•Loyal Customers
•Retailers Learn about Popularity and Pricing of Products Immediately
•Retailers Reduce Inventory Management costs
•Retailers Increase Brand Exposure 150x
•Retailers Reduce Marketing costs
•Mjedi enables Retailers to Increase Brand Loyalty with better Customer
Engagement with “pull” Marketing i.e. give customers what they want
•Retailers would be able to develop personalized offers for Customers
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8. Interconnectedness
Mjedi Created a Mobile Social
Commerce Platform
+ +
Mobile Social Commerce
•Tina goes to Facebook and sees all the items (with all details including
pictures) she has texted about. All of Tina’s friends would be able to see Tina’
s and each other’s products and subscribe to Mjedi service
•Friends can click and drag items to their lists from each other
•Friends would be able to comment on items on each other’s list creating
user-generated product reviews (like on amazon.com)
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9. Why Now?
Mjedi is SMS-based and is focused on
Physical Retail
• 88% of $229B in Apparel Sales is • SMS covers 100% of phones and
Spent in Physical Retail (Offline) Smartphones apps cover only 15%
• There is No Feedback loop in • Application Development has
Offline Retail i.e. Retailers don’t been focused on Smartphones
know why someone left the store • 1 Trillion Text Messages sent in
without a Purchase the US in 2008
• Most Retail Innovation has been • Businesses still trying to figure out
focused Online how to use twitter/Facebook
12% 15%
88% 85%
Offline Online Feature Smart
Sales Sales Proprietary and Confidential Phones Phones 9
See last slide for data sources
10. What else?
Mjedi is Leveraging Changing
Consumer Behavior
• 66% of the teenagers use text messaging (sms) to a
friend while shopping
• Online/mail-order Apparel retailers see return rates
of 50-60% where as physical store sales see return
rates of 5%
• Email is being Replaced by Social Networking and
Texting
• 100% of 117 women interviewed loved the idea
• Informal Retailer Feedback is mixed
• Retail Sales Representatives Love the Idea
• Mjedi will not affect the behavior of the sub-segment
which does not buy products on SALE
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See last slide for data sources
11. Mjedi is Engaged in a Field Trial
• Mjedi Service has two Pending Patents
• Mjedi Service is Live and Working
• High Interest from Customers on the Service
• To Schedule a demo, please contact Chander Chawla
at 425-443-6626
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12. Mjedi Evolution
• Multiple Entry Methods
• Smartphone Apps including Barcode Reader
• Enable “Put on Hold” Service when customer
gets a message re SALE
• Reverse Offer i.e. “Buy Now”
• Monetization based on Location
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13. How?
Mjedi will Collaborate with Retailers
on the Business Model
• A: Pay per Sale • B: Pay per Feedback
– Retailers would ONLY – Retailers would Pay per
Pay commission for item SMS sent by Customers
sales enabled by Mjedi – “Frequent Flyer” plan
• C: Licensing
– Retailers would pay a A or B or C
Monthly Fee for Mjedi
Services
Or Hybrid
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14. Sources for Data
• Harvard case study "Zara: IT for Fashion“
• Harvard case study "Retail Shopping in 2007“
• Harvard case study "Gap Inc."
• Harvard case study "Retail Shopping in 2007: The
Net versus the Mall“
• Harvard case study "Facebook“
• CTIA.org
• NRF.com
• Interviews and Surveys conducted by Chander
Chawla
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