Website Closers® presents an eCommerce Brand that is focused in the growing Cryptocurrency Vertical, offering crypto hardware wallets, cryptographic key storage, and other security products. This has become a rapidly growing field for investors eager to safeguard their crypto assets and avoid falling victim to hackers. With the risk of any security product becoming vulnerable to criminals, this brand has stood out by marketing hardware wallets and minimalist crypto apparel products that are brand new, shipped from their secure warehouse facility, and sourced directly from their brand partner’s factories with a full warranty included. Having longstanding partnerships with the top brands in crypto security, this company’s 100% authentic wallets have been helping investors secure their financial future for the past four years. That reputation has carried a lot of weight for the company’s financial success.
It’s difficult to underestimate how important these software wallets are to users who hold cryptocurrency. As the place to control the public and private keys that serve as a mini bank for the owner, these wallets have become in high demand, and the Cryptocurrency Hardware Wallet market is projected to register a phenomenal 91% growth rate, rising from a value of $350 million today to $470 million by 2025. Cryptocurrency is here to stay, thanks to low fees whenever a transaction is made, and the fact that a lot of people who invested a few years ago are enjoying huge profits today.
Security is of paramount importance. Those who invest in cryptocurrency want to feel certain their payment method is safe and secure. A company that has powerful testimonials from satisfied customers to prove that’s the case is going to have a significant advantage over competitors who don’t.
Launched in September 2017 by a group of early crypto adopters, investors, and crypto enthusiasts, their products are sourced from top suppliers in the space and they enjoy “authorized retailer” status with both suppliers. The company established a Shopify website where customers can purchase their hardware wallets, water-proof protection cases, and bundle deal packs. The brand expanded to include a crypto apparel t-shirt, tote bags, and laptop sleeves. Their apparel is entirely proprietary. However, the company put its focus on more than simply making its 34 SKUs available to customers. The company understood that buyers were looking for a trusted advisor and source of information for the journey into managing keys for their cryptocurrency, so they also strived to become a source for information as well.
The brand has a blog on its site that helps educate people on how to keep their cryptocurrency safe, the best cryptocurrency wallet practices, and the difference between hardware versus online cryptocurrency wallets. Their basic message is that once a customer is ready to lock down their digital assets, they need the right tools to do that. This educational and informative approach has helped the brand earn the trust of its key demographics, which leans toward men between the age of 25 and 65 eager to get into the world of crypto in a secure way.
The brand has expanded its sales platforms to include eBay, Amazon, and Amazon Canada, along with a separate Amazon page for their clothing items. They have a high Average Order Value. In the beginning it was $222, but in the past year that rose to $255, and over the summer of 2021, it shot up even higher to $412. Prices have been trending higher and sales remain vibrant throughout the year, with the only seasonality connected to bull/bear cycles for the crypto market. Sales peak during the holiday season.
All inventory is stocked except for their t-shirts, which are printed on demand, then drop shipped by the manufacturer. The brand’s decision to expand onto Amazon is an interesting one, since traditionally investors have been cautious and share a degree of distrust for security products sold on big tech spaces. However, this was another example of this brand’s growing reputation for excellence providing them with a competitive advantage. Glowing reviews on both their website and on Amazon testify how efficiently the brand has cultivated that top-notch reputation.
How did the company establish its reputation? Their written content that guides consumers has been a key part of it, demonstrating that the company understands the often-complex world of cryptocurrency and can help navigate newcomers eager to get into the field. The recognized authenticity of their blog has generated a considerable amount of word-of-mouth advertising. That blog is a key aspect of the company’s SEO program, which channels a significant amount of their organic traffic. In the past year, the brand has enjoyed a massive 19,200+ monthly visits, a clear indication of how well their digital marketing is working.
The brand benefits from referrals, which has been a massive driver of revenue. This has impacted sales in another way: their Repeat Customer Rate is now 8.54% and rising. That rate could be significantly increased if a buyer took advantage of some shrewd scale opportunities available to this profitable business. There is the option to adding new products to the platform, giving them opportunities to upsell those products to their existing customer base. That could include adding digital products, particularly online courses on the world of cryptocurrency, and building out their apparel shop.
The company has set up an affiliates marketing platform which remains underutilized, and this could be scaled quickly to increase profits. The brand’s social media accounts on Facebook, Instagram and Twitter are also underutilized, and could become a major source for expanding the customer base.
There are terrific marketing opportunities through email marketing – the brand now has a database of 9,000+ subscribers – by running PPC ads on Amazon and Google, and by video marketing on sites such as YouTube and TikTok. The brand could keep expanding onto other eCommerce sites such as Etsy, Shoppee, and Mercadolibre, and launch a global expansion on Amazon’s overseas platforms.
It’s estimated that 8% of Americans own crypto money but that jumps to 9% of Generation X and 17% of Millennials, indicating this “internet coin” will become considerably more popular in the years ahead. That’s a wave this business could easily ride.
In purchasing this business, a buyer not only gets first rate and proven SKUs but inherits the valued reputation this brand enjoys. That’s going to enable this business to continue rising to enormous new levels of profitability as the percentage of people who own crypto goes up as well. This is a fantastic opportunity to soar upwards on that trend.
