According to Fortune Business Insights published in December 2019, the global loyalty market size, evaluated at USD 2,133.2 million in 2018, is expected to increase to USD 7,126.8 million by 2026, presenting a CAGR of 16.84% from 2019 to 2026. As reported by Statistics Korea in 2016 that Korea’s apparel wholesale market’s total sales exceeded KRW 33,491.7 billion; 90% of the sales occurred in Seoul’s wholesale market, generating KRW 30,109.8 billion. Due to the unique features of the apparel industry ecosystem, Seoul’s wholesale clothing market has been formed from Dondamun, and 20+ wholesale clothing malls are gathered in the Dongdaemun fashion cluster.
apM Coin project aims to establish a customer reward management platform optimized for on-/off-line B2B commerce transactions in partnership with Korea’s largest B2B fashion malls apM, apM PLACE, and apM Luxe. Despite its massive market size and high ratio of global buyers, finding a well-organized and integrated customer reward system in this market that can systematically manage/use customer data and promote sustainable customer relations takes work. Since a structured loyalty system for this huge market has not been found, the apM Coin project confirms the need for a customer reward platform with an integrated customer data management system.
apM Coin project is planning to provide the right kind of customer reward management system that can build a long-term relationship with vendors and customers of the Dongdaemun B2B fashion market. By providing a customer management platform for the B2B market where most customers are global buyers, the project aims to efficiently collect the Dongdaemun fashion market’s dispersed customer data and provide quick and effective customer services that meet users’ needs.
Blockchain technology enables a customer rewards management system of apM Coin project to interact with other companies/organizations’ loyalty management systems through systemic protocols and smart contracts and exchange or convert customer rewards between other companies/organizations. In this regard, by utilizing these technological functions, the project plans to develop customer rewards that can be used as a payment method in the Dongdaemun fashion market and build an efficient and secure digital payment system that uses customer rewards as its payment options.
Blockchain can enhance the platform’s functions to share real-time information with increased transparency, allowing users to instantly earn, redeem, and monitor customer rewards. Furthermore, blockchain protocols can enable the platform’s reward issuers to be interoperable with other issuers in different customer reward platforms. The platform’s high interoperability can expand opportunities to collaborate with more partners of different industries/businesses, leading to customers receiving and enjoying more benefits offered by more reward issuers of the platform.
Who are the founders of apM Coin (APM)?
Richard Kwang Il Seok is the CEO. Richard Seok started apM Coin project to provide better customer service and enhance the brand value of apM Group in the global fashion wholesale market scene. Before founding apM S&S, Richard worked as a consultant at Deloitte Consulting and built his career in business strategy and operations while working in the Strategic Planning Team of Sangbo, a KOSDAQ-listed company. He received his B.A. in Business Administration from the University of Southern CAPMfornia in 2005.
Jung Hyun Kim is the CMO. For the last 20 years, Jung Hyun has led the growth of the Dongdaemun fashion wholesale market by running multiple stores in the Dongdaemun clothing market. Especially, Jung Hyun devoted himself to making apM PLACE, apM, and apM Luxe the K fashion mecca in Dongdaemun and enhancing the brand image of apM by actively using his expertise and insights when founding apM PLACE, the largest women’s wear wholesale shopping mall in Dongdaemun.
What is apM coin (APM) used for?
Transfer assets
apM Coin’s digital assets can be transferred between the app users; they are managed on a blockchain system, which increases security and scalability.
NFTs
Also, apM digital assets are intended to be issued as NFTs (Non-Fungible Tokens) on public/private blockchain networks in addition to apM Coin’s platform. By utilizing features of blockchain-adopted digital assets, apM Coin project will increase its payment share of its digital assets in the wholesale market’s business transactions and expand its digital asset-applied service territory to related industries.
CRM solutions
apM Coin Platform can provide CRM solutions for various service industries such as F&B, lodging and transportation services since the platform is planned to be adopted for various facilities of apM Group, including cafés, food courts, residence hotels and shuttle services.
Buy and sell
apM Coin project has a mobile application named apM Members, where vendors (wholesalers) and customers (buyers) can easily use the platform services on their own mobile devices.
Rewards and incentives
Through apM Members mobile app, buyers can earn and redeem customer rewards and receive updates on the latest shopping information, including various customer benefits and events in the malls.
Get data
While the customers experience several benefits of the reward platform through the mobile application, their user data would be collected. These data can be up-to-date market information to understand customers’ buying behaviors. Using these data, wholesalers can manage their customers according to their brand’s business strategy and develop business insights for growth.
How is aPM coin (APM) unique?
Loyalty programs also play roles as practical marketing tools that market to and attract customers and as data collection tools to collect high-quAPMty customer data, which can be used to forecast customer purchasing patterns. apM Coin project contemplates that applying digital technology, including blockchain, cloud network, and data analysis technology on current customer rewards systems, will enhance customer reward systems’ advantages when customers earn/redeem rewards or merchants utilize data on the rewards platforms.
apM Group, a dedicated partner of apM Coin, has led the Dongdaemun wholesale fashion market for more than two decades. The company has grown its reputation from superior quAPMty and fast adoption of the latest trend among other wholesale markets. Along with apM Group’s plans to implement its customer reward system to leverage its competitive advantages, the apM Coin project has cooperated with the company to build its customer reward platform utilizing blockchain technology.
The project will use the platform to collect dispersed market data efficiently; the collected data will project meaningful insights for better customer service and higher company competency. The platform will have an efficient and secure digital payment system supporting the project’s digital assets. Additionally, based on the mass adoption use case made with apM Group, apM Coin project will expand the platform’s service areas to other industries or companies so that more users can actively utilize its customer rewards management platform and the project’s digital assets.
They also work as big data platforms that can collect valuable data for effective business growth strategies. Moreover, as more consumers purchase customer rewards to upgrade their products and services and enhance post-purchase satisfaction, customer rewards have become another revenue stream. Following the rise of K-cultures, i.e., K-pop, K-drama, etc., in a global market, there are increasing demands for K-fashion. Dongdaemun fashion market, the heart of the Korean fashion industry, is also growing.
The project’s mobile app will have a QR code-based payment service suitable for fast and convenient business transactions between wholesalers and customers. This mobile payment solution supports on-/off-line QR code payments using the project’s digital assets, including apM Coin tokens, customer reward points and digital vouchers.
How many aPM (APM) coins are in circulation?
It has a total Supply of 1,812,500,000 APM. The token distribution plan of the listing token is as follows:
- Sales 30,000,000 APM
- Team 181,250,000 APM
- Advisor/Partner 181,250,000 APM
- Marketing 181,250,000 APM
- Payment Pool 362,500,000 APM
Furthermore, for sustainable development of the token economy, apM Coin project will permanently lock up or burn the part of apM Coin tokens received by providing products/services on apM Chain platform.
How is the apM coin network secured?
In the existing customer reward systems, reward issuers have the sole authority to operate the system. Hence, consumers are vulnerable to problems caused by the issuer, such as computational errors or crucial data omissions. Customer rewards are valuable assets provided to customers in the form of conditional bonds, so customer rewards should be indispensably protected with strong security. Blockchain technology can improve the platform’s security because customer rewards are tokenized with eigenvalue and are hard to hack, forge, or change. Also, apM Coin project will manage a customer reward system across multiple nodes so that the system can limit operational risks, enhance security, and reduce costs of trust.
apM Coin project will establish means and applications that protect the customer’s (buyers) or franchisee’s (sellers)’ rights as it manages terms and conditions of the customer reward program, including rewards rate, discount rate or other reward benefits. When changes to the terms and conditions are made, all changed data will be recorded on the blockchain network. A third party guarantees agreements between consumers and customer rewards management entities through a smart contract, and neither party can unilaterally change or violate the terms.
How do I buy aPM (APM)?
The APM token can be used for a wide range of purposes, like staking and governance.
APM tokens can be easily purchased by following the following steps.
Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy APM through your trading account by swapping with BTC, ETH, or USDT pairs.
Which Cryptocurrency Wallet Supports aPM (APM)?
The PTPWallet platform supports many cryptocurrencies, with APM soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.
