Wishwallet will enable users to passively save & buy preselected purchases by automatically rounding up card transactions to the nearest pound, the latest digital piggy-bank. Investment allocated to finalising the app aiming for early 2019 UK launch, followed by 6 months app support, Marketing & HR.
E-Commerce is the fastest growing retail market in Western Europe & North America, with 2016 online sales up to £201bn and £308bn respectively, and YoY sales growing c. 15%. Online retailers face a 60-80% chance of 'Shopping Trolley Abandonment', the ratio of abandoned checkouts to initiated transactions.
At Wishwallet, our mission is to revolutionise the way people shop online with the simple round up. Our primary objectives are two-fold; to reduce the 'abandonment' ratio, coupled with affording shoppers the otherwise unaffordable, a win/win for both retailer and online shopper.
Our revenue stream revolves around four core strategies; retailer service fees, advertising, subscription and data.
Since foundation, Phase 1 is complete: user & market research, a demo app, website and social media infrastructure.
In July 2018 we finalised an equity agreement with app developers Tappable, and app design has already begun.
In conjunction with raising finance, we continue to initiate and develop conversations, establishing a working pipeline of investors and retailers.
Following investment we will initiate Phase 2: finalise the live app, with the goal of launching in early 2019. Remaining investment is allocated for our Marketing & PR campaign geared towards nationwide user acquisition, app support & upgrade program, with key-hires engaging new partners.