YooShope: Too much choice is not a good thing, and the more choices you have, the higher the cost
In recent years, the rise of e-commerce and mobile payments has been a benefit for the lazy party, and online shopping has become a staple of contemporary life, with total global mergers and acquisitions more than doubling from a year ago to a record high of $5.6 trillion, surpassing last year’s $4.59 trillion, according to national news reports, in less than eight months of 2021. E-commerce has brought a lot of convenience to all aspects of our food, drink and entertainment, and a wide variety of goods are on the rise, but is this really a good thing for businesses and consumers?
Study 1: Shah and Wolford found in 2007 that actual purchasing behavior and the increase in the number of purchase choices show an inverted U-shaped curve, rather than a linear correlation. That is, when purchase choice increases, purchase behavior increases, and when the increase reaches a peak, it begins to decline; the more purchase choice there is, the less actual purchase behavior there is.
Study 2: A study by Iyengar and Lepper in 2000 found that purchase rates were higher when people were given only 6 choices than when they were given 24 or 30 choices. Also, with a limited number of choices (6), they were more satisfied with their choices.
From the above two studies, we found that “the more choices, the less consumers buy”, which also affects the economic efficiency of merchants.
To solve this problem, a British company called SMART DATA & ASSETS LIMITED (SDAL) has developed an intelligent shopping system “YooShopee” by integrating technologies such as big data, cloud computing, Internet of Things and artificial intelligence, which can not only find customers who are suitable for their products for merchants, but also consumers can very accurately find their needed products, fundamentally reducing the consumer’s choice problem.
As an e-commerce resource sharing platform, YooShopee can not only help merchants find the right customers for their products through big data, but also increase their visibility on e-commerce online platforms by rating their products through an order scheduler. Currently, YooShopee has been adopted by merchants on major online shopping platforms such as Amazon, JUMIN and SUOQ.
The high-tech intelligent artificial intelligence technology developed by YooShopee for SDAL, combined with the theory of information symmetry, sends merchants’ orders to all order assigners on YooShopee, and the system automatically evaluates and matches orders for members on the YooShopee platform who have order assignment rights. The order assigners simply review the product and give their opinion to be rewarded by the merchant.
Whether you are a merchant, a consumer, you can join YooShopee and you can get great benefits and value from it!
Smart Data and Assets Ltd.
Hereinafter referred to as SDAL
Headquarters: London, UK
Platform Name: YooShopee
Email address: firstname.lastname@example.org
Website Domain: https://www.yooshopee.com