Jun 4, 2016
When shopping online websites seem to know everything about us and use our browsing habits to offer products based on out browsing preferences. However, when visiting a bricks and mortar store, nobody knows our name, what we like and the only eye contact we have from the cashier is when they want our credit card.
“FiveStars’ mission is to help local businesses turn every transaction into a relationship”
Small to medium sized businesses might not be able to compete with Amazon on price or McDonalds on line speed. BUT if they don't have the personalization, they're completely doomed." advised company’s co-founder and chief executive, Victor Ho.
Having already raised $105 million since it launched in 2011. I believe that FiveStars could go on to reach the "unicorn" status of a billion-dollar company in this digital age where the personalization of everything becomes paramount to both businesses and users.
I chat to Vic Ho about using technology to create an app with social impact and bringing back the "Cheers Vibe" to retailers. After all, sometimes we just want to go to a place where everybody knows your name.