Vision and value proposition:
- The anti-Amazon. A virtual marketplace that connects people to local businesses, where they can buy high-quality local products while supporting local community initiatives.
The current shopping model is winner-takes-all where only one company benefits to the detriment of local communities, businesses, and uniqueness. People want to support their communities but they also want the ease and convenience that hyper e-commerce sites provide to buy quality products.
Target market and opportunity:
The US e-commerce market is about $340B. Two main players control most of the sales (Amazon and Shopify). The rest is divided among thousands of small players. It is possible to focus the commerce of the other places based on location and capture a significant portion of the market.
That’s where HyperLocal comes, an e-commerce platform that would only support local businesses, providing high-quality products, and where part of the profits will be distributed to benefit local community initiatives.
- Me, myself, and I. Currently in the ideation stage.
- The first position needed: CIO
Competition: how are you different from the competition or alternatives in the market today
In addition to the hyper e-commerce sites, there are a few companies that have tried to do something similar. Some are:
- Nift Networks