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The market's demand for Bitago can be attributed to a number of factors.
First of all, a lot of individuals are curious about cryptocurrencies as an investment or a means of storing capital. For individuals who are apprehensive to engage in cryptocurrencies, our Crypto cashback program gives them the opportunity to earn digital assets without having to make a direct purchase.
Second, consumers will frequently use our cashback benefits as a way to save money while making purchases. Our cryptocurrency cashback business model will give customers another reason to buy things with cryptocurrencies, which can promote greater adoption and use of digital currencies.
Finally, some people are simply attracted to the novelty of cryptocurrencies and the idea of earning rewards in a new and exciting way. We will provide an opportunity for these individuals to participate in the cryptocurrency ecosystem and earn rewards at the same time.
Overall, the demand for crypto is driven by a combination of factors including investment opportunities, savings incentives, privacy and security, and novelty. As cryptocurrencies continue to gain mainstream adoption, it is likely that the demand for crypto our cashback program will continue to grow as well.
Global Shopping Market size
The total shopping market size according to Statista, global retail sales amounted to approximately 25.04 trillion U.S. dollars in 2020. This includes sales of both physical goods and digital products across various retail channels, including brick-and-mortar stores, online marketplaces, and mobile commerce. The shopping market is expected to continue growing in the coming years, driven by factors such as increasing consumer demand for convenience, technological innovations, and the rise of e-commerce.
Global Cashback market size
The global cashback market size including both traditional and digital cashback programs across a variety of industries, according to a report by ResearchAndMarkets.com, the global cashback industry is expected to reach $108.5 billion by 2027, with a compound annual growth rate (CAGR) of 12.1% from 2020 to 2027.
Factors driving the growth of the cashback market include increased consumer demand for value and convenience, as well as the growing popularity of online shopping. The rise of digital payment methods and the increasing adoption of mobile devices are also contributing to the growth of cashback programs, as they offer a more seamless and integrated shopping experience for consumers.
It's worth noting that the emergence of Web3 and blockchain technology is likely to disrupt the traditional cashback market and potentially create new opportunities for growth. As more consumers become familiar with cryptocurrencies and digital wallets, there may be a shift towards decentralized cashback programs that offer greater transparency and control for users.
Overall, the cashback market is a dynamic and rapidly evolving space, with significant potential for growth and innovation in the years to come.
According to a report by MarketWatch, the global cashback industry was valued at approximately $62.1 billion in 2020 and is expected to grow at a CAGR of 12.2% from 2021 to 2028.
Another report by Technavio estimates that the global cashback rewards program market size is expected to grow by $13.57 billion during 2021-2025, progressing at a CAGR of over 10%.
Crypto cashback market size
The crypto cashback market is still relatively new and emerging, and with the increasing adoption of cryptocurrencies and the growth of the overall crypto market, it is expected that the crypto cashback market will continue to expand in the coming years.
Web3 cashback programs are still relatively small compared to traditional cashback programs, but they are growing in popularity and could become more significant as the crypto market continues to mature.
A report by ResearchAndMarkets.com estimates that the global blockchain market, which includes cryptocurrencies and related applications, will reach $57.64 billion by 2025, with a CAGR of 69.4% from 2020 to 2025. While this figure includes a range of blockchain applications beyond cashback programs, it suggests that there is significant potential for growth in the crypto cashback market as well.
Overall, the crypto cashback market is still in its early stages, but it is expected to grow in tandem with the broader crypto market as more consumers and merchants adopt cryptocurrencies and related technologies.
Furthermore, with the increasing popularity of crypto cashback programs, the crypto cashback market size is expected to grow significantly in the coming years.
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