Eighty-five per cent of the orders placed on THE LIST come through mobile devices. Founded by serial entrepreneur Andreas Skorski, THE LIST is a luxury digital marketplace that follows a mobile-first approach to doing business.
With the democratisation of luxury fashion, Skorski sees more and more youth – particularly the millennials – being able to afford luxury items. To cater to this consumer segment, THE LIST decided to speak in their language, engaging with them on their most preferred device.
During an exclusive interview with RetailME in January 2019, Skorski spoke about THE LIST’s journey so far and future growth plans, including the impending launch of an alternative mode of payment, cryptocurrency – the formal announcement was made today (February 6).
The mobile app and the website are both gesture-based and straightforward, wherein shoppers can browse and buy quickly. What’s more, THE LIST have announced the launch of an alternative mode of payment – cryptocurrency in partnership with BitBay Pay – along with the usual cash on delivery and credit card options. “We see a demand for such alternative mode of payments. Once implemented, we will probably be the first e-commerce player globally to move into the crypto space,” Skorski shared.
With the number of bitcoin users expected to exponentially grow from currently less than 10 million to more than 200 million by 2024 and global mobile payment revenue estimated to already reach more than $1 trillion in 2019, THE LIST firmly believes in cryptocurrency being the future of online spending. The integrated payment gateway allows customers using THE LIST App to pay with Bitcoin and in a second step with over 20 additional cryptocurrencies such as Litecoin, Ether, Lisk, Tron and Ripple, to purchase unique luxury fashion and lifestyle products from the world’s best boutiques.
“In the Middle East consumers’ approach to banking and payments has already changed radically. Due to the growth of e-commerce and the high mobile penetration in the region cash-on-delivery payments have steadily declined over the last years, while digital payment solutions are experiencing significant growth. We see cryptocurrency as an enduringly relevant currency, not just a trend,” stated Skorski.
Read the full article in the February edition of RetailME