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Why Stocard's Business Model is so successful?

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Stocard’s Company Overview


Stocard is an innovative technology company that specializes in mobile wallet solutions. Founded in 2011 and headquartered in Mannheim, Germany, Stocard is revolutionizing how consumers shop, pay, and access financial services. The company provides a mobile application that allows users to store all their loyalty cards in one place, eliminating the need to carry multiple physical cards. Stocard's app is user-friendly and supports a wide range of loyalty cards from various retailers worldwide. The company's mission is to create a world where people can access financial services simply and conveniently, and it's constantly evolving to meet the ever-changing needs of its users. Business Model: Stocard operates on a B2B2C business model, providing a platform for businesses to reach their customers more effectively while offering consumers a more convenient shopping experience. The company partners with numerous retailers who want to engage their customers digitally. Stocard's app is a digital wallet that allows users to access their loyalty cards, receive personalized offers, and even pay directly from their smartphones. This gives retailers a direct channel to their customers, enabling them to push notifications about special offers, discounts, or new products. The app also collects user behavior data, providing retailers with valuable insights about shopping habits and preferences. Revenue Model: Stocard's primary source of revenue comes from its partnerships with retailers. The company charges a fee for its services, which include advertisement placements within the app, pushing notifications to users, and providing analytics to retailers. Since the app is free for users, Stocard generates revenue by offering premium services to businesses, such as targeted advertising and customer engagement tools. The company also earns revenue from transaction fees when users use the app's mobile payment feature. As Stocard continues to expand its user base and partner with more retailers, the company's revenue potential continues to grow.

https://stocardapp.com/en/de

Country: Germany

Foundations date: 2011

Type: Private

Sector: Financials

Categories: Retail


Stocard’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: rewards me, design/aesthetics, provides access

Functional: saves time, simplifies, organizes, integrates, connects, reduces effort, avoids hassles


Stocard’s Related Competitors



Stocard’s Business Operations


Advertising:

This approach generated money by sending promotional marketing messages from other businesses to customers. When you establish a for-profit company, one of the most critical aspects of your strategy is determining how to generate income. Many companies sell either products or services or a mix of the two. However, advertisers are frequently the source of the majority of all of the revenue for online businesses and media organizations. This is referred to as an ad-based income model.

Customer data:

It primarily offers free services to users, stores their personal information, and acts as a platform for users to interact with one another. Additional value is generated by gathering and processing consumer data in advantageous ways for internal use or transfer to interested third parties. Revenue is produced by either directly selling the data to outsiders or by leveraging it for internal reasons, such as increasing the efficacy of advertising. Thus, innovative, sustainable Big Data business models are as prevalent and desired as they are elusive (i.e., data is the new oil).

Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Digital:

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

Disruptive banking:

The banking industry's disruptors are changing the norms that have been in place for decades. These new regulations, however, will only be effective until the next round of disruption occurs. Banks and credit unions must thus be nimble and responsive. We need audacious tactics. 'Disruptive Innovation' is a term that refers to the process whereby a product or service establishes a foothold at the bottom of a market and then persistently climbs up the value chain, ultimately replacing existing rivals.

eCommerce:

Electronic commerce, or e-commerce (alternatively spelled eCommerce), is a business model, or a subset of a larger business model, that allows a company or person to do business via an electronic network, usually the internet. As a result, customers gain from increased accessibility and convenience, while the business benefits from integrating sales and distribution with other internal operations. Electronic commerce is prevalent throughout all four main market segments: business to business, business to consumer, consumer to consumer, and consumer to business. Ecommerce may be used to sell almost any goods or service, from books and music to financial services and airline tickets.

Mobile first behavior:

It is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices. The term is “mobile first,” and it is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices.

Network builders:

This pattern is used to connecting individuals. It offers essential services for free but charges for extra services. The network effect is a paradox that occurs when more people utilize a product or service, the more valuable it becomes.

Transaction facilitator:

The business acts as an acquirer, processing payments on behalf of online merchants, auction sites, and other commercial users for a fee. This encompasses all elements of purchasing, selling, and exchanging currencies at current or predetermined exchange rates. By far the biggest market in the world in terms of trade volume. The largest multinational banks are the leading players in this industry. Around the globe, financial hubs serve as anchors for trade between a diverse range of various kinds of buyers and sellers 24 hours a day, save on weekends.

Two-sided market:

Two-sided marketplaces, also called two-sided networks, are commercial platforms featuring two different user groups that mutually profit from the web. A multi-sided platform is an organization that generates value mainly via the facilitation of direct contacts between two (or more) distinct kinds of connected consumers (MSP). A two-sided market enables interactions between many interdependent consumer groups. The platform's value grows as more groups or individual members of each group use it. For example, eBay is a marketplace that links buyers and sellers. Google connects advertising and searchers. Social media platforms such as Twitter and Facebook are also bidirectional, linking consumers and marketers.

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