27Avenue was created with a disruptive thought in this fast-paced eCommerce industry. The seed was sown in early 2014 as a single category online store with basic features and limited product line. The platform graduated to adding a category almost every quarter and increasing number of products day on day. Over 100 thousand SKU’s, 3000 merchants and 12 countries is the growth success in less than 36 months.
At 27Avenue we aim at giving a valued shopping experience through categorized store verticals for customers. Also providing a streamlined business platform for sellers in their domain with equal opportunity to all. The vertical stores offered categorized sections and distinct shopping experience to the buyer. At 27Avenue we were successful in creating a very robust supply chain of innovative products from China. The exponential growth of 27Avenue from a single category online store to the multi category online marketplace while reaching a GMV of 1.5 million USD is much credited to the focussed team and leadership bought by Mr. Waqas Nakhwa; founder and CEO of 27Avenue
27Avenue is a state of the art advanced technological platform easy to use for the merchants and consumers. This win-win solution on the dynamic platform is explained in the video here. At 27Avenue we aim to satisfy each of our buyers and sellers as we are the bridge connecting the two ends of a successful relationship. 27Avenue offers optimum security to its users. The underlying blockchain technology provided by KartBlock which uses the Ethereum backed ERC20 standard token for the payment solution.
This blockchain layer will handle and record all eCommerce transaction over the smart contract for 27Avenue. The consumers have an option to earn the tokens while recording their behaviour and updating activities on the platform. These tokens can be utilized for purchases and settlements. The Merchants can create favourable rewards and loyalty program using the tokens on this platform. A full-fledged KartBlock digital wallet will be functional on the 27Avenue platform
The first release of the mobile Application on the new reengineered shopping experience using the
block chain technology and tokenized payment solution
The online eCommerce marketplace has huge potential and has now become a reckoning force in every business verticals. The new 27avenue platform will function in a similar way by giving more to the customers and sellers. The product costs will be reduced up to 35% and sellers will have an unrestricted platform with zero commissions.