As the holiday shopping season arrived, hundreds or more women are earning their first Bitcoin by purchasing items online with an in-browser application called Lolli.
Sephora enables shoppers to earn cash back in the form of BTC
Recently, as it has been revealed, Sephora, which is a cosmetics chain, joined the list of retailed where shoppers can earn cash back, in the form of Bitcoin, through one application called Lolli. The BTC rewards startup says it won over the beauty chain with data: specifically, 30% of the thousands of users of the application are women.
The CEO of Lolli, named Alex Adelman, said that they have gone back to a lot of these retailers who previously were not interested but now come on-board. According to him, one of the biggest ones that just joined them is Sephora, which adds a whole suite of retailers in the beauty category.
The partners of Lolli, which include beauty retailers such as Ulta and fashion brands like Everlane, pay it for customer referrals and give the e-commerce startup fiat that it converts into BTC rewards for the shoppers. Despite the broader bear market, or maybe as a result of it, this lean 6-person startup is gaining traction while some other cryptocurrency startups face layoffs.
Beauty and Bitcoin combination
Sephora did not respond to the request for comment, but the San Francisco-based marketing consultant Thien-Kim Ngo has said that she earned her first BTC from EVerlane and Sephora with the use of the Lolli app. Currently, Ngo also said that she wants to learn more about investing as she acquires more BTC.
She explained that she was interested in a few years now, adding that other ways of acquiring BTC felt complicated, as well as time-consuming. She also said that all the news which was about volatility freaked her out. She does not know much about crypto. However, Lolli was super intuitive and lower risk for her.
Moreover, the head of the Innovation Lab of Sephora is actually a BTC veteran and also a co-founder of the SF Crypto Devs Meetup, named Nelly Mensah. Travel may be the most popular category of Lolli, but some mainstream beauty, as well as fashion retailers, are gaining traction all over the board.
Challenging the stereotype of crypto users as awkward men that pay just a little attention to hygiene or appearance, Adelman said that the rival of Sephora, Ulta already attracted some significant traction from the users of Lolli and not just women.
Adelman said that people were requesting Sephora. Beauty was also surprisingly big. Women and men were buying beauty products, and Ulta was an incredible retailer for them, he explained.
Install the app on the Chrome browser and shop normally
To acquire BTC with Lolli, users need to install the application in their Chrome browser and then shop as they usually do on mainstream websites. Adelman also said that far than 60% of Lolli users become repeat shoppers, adding that as they have a place for them to earn BTC, and not merely investing or mining, but also shopping, opened up an entirely new audience.
As Lolli launched in September of this year, the company has raised $2.35 million and also paid users an average of 0.0029 BTC per purchase, almost $10. But, the rewards vary dramatically, and that depends on the brand and the amount that is spent. Adelman also said that one user earned almost #132 worth of BTC through a single travel purchase which is worth $4,400.
For now that the crypto loot is stored in a Lolli wallet, similar to an in-browser MetaMask wallet. Later in December, Lolli is going to roll out the capacity to cash out to the separate crypto wallet addresses of users.
Adelman also said that holiday shopping attracted a lot of first-timers such as Ngo, concluding that they have doubled their sales in November, and he things Sephora will add a lot more too. They saw an early trend there, he explained.