• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Friday, February 3, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
menu-image-v2

Today’s Turbulent Environment is Fueling the O2O Market

San Francisco startup iWallet is converting paper menus to digital versions via the iWallet QR menu generator for its growing client base of restaurants, cafes and wineries.

by Chris Casacchia, Senior Writer, California Business Journal
A A
Share on FacebookShare on Twitter

There’s a business revolution underway and you’ve likely been supporting the movement well before the coronavirus pandemic kicked it into high gear. Maybe it was that online flash sale or those digital loyalty bucks that led you back to your favorite brick-and-mortar retailer. Perhaps it was an app alert for that new pumpkin-inspired latte at the corner coffee shop. Or a rare craft beer release that just went live on your Instagram feed.

Online-to-offline e-commerce, referred to as O2O to those in the know, is here to stay, according to Bay Area entrepreneur Jim Kolchin, who’s helping businesses across the nation adapt to yet another new normal. His San Francisco-based startup, iWallet, has been busy converting paper menus to digital versions via the iWallet QR menu generator for its growing client base of restaurants, cafes and wineries.

“People are looking for ways to stay healthy and to eliminate as many sources of bacteria as possible,” says Kolchin, a serial entrepreneur who’s launched and shuttered several companies, from smart mailboxes to automated knife sharpeners.

The QR code service is free and includes QR menu labels that proprietors can place on tables or windows for consumers to quickly scan via a smartphone or tablet, without downloading any additional apps. Additionally, iWallet does not sell any data or display ads. “We just help restaurants with reopening,” Kolchin says. “In addition to that we offer merchants free Avery weatherproof QR menu stickers and table stickers.

Jim Kolchin's San Francisco startup iWallet has been busy converting paper menus to digital versions via the iWallet QR menu generator for its growing client base of restaurants, cafes and wineries.
Jim Kolchin’s San Francisco startup iWallet has been busy converting paper menus to digital versions via the iWallet QR menu generator for its growing client base of restaurants, cafes and wineries.

“I saw the need to help local businesses open safely,” says Kolchin, who enjoys the city’s diverse dining scene. He’s a regular at The Pig and Whistle, a beloved English tavern nestled at the intersection of Laurel Heights, Lone Mountain and the Inner Richmond neighborhoods. Over the years he befriended the owner, Steve Anderson, who established the pub in 1991.

The pandemic upended his industry overnight, forcing widespread closures and swift changes in consumer purchasing and eating habits. Kolchin, who had been developing QR applications for several years, offered Anderson some help to digitize and update his menus fairly seamlessly.

ADVERTISEMENT

“I saw him struggling and then he was shut down. Everybody was hurting,” Kolchin recalled of the first months of the outbreak. “I knew I could help.”

The Pig and Whistle launched the service in May, becoming iWallet’s first customer. Anderson says the technology minimizes the risks of infection for employees and customers, his top priority.

“Implementing iWallet QR payment and menu helped us to maintain a healthy environment,” he says.

Since that deployment, iWallet QR menus have been scanned over one million times at venues such as The Venetian and Wynn casinos in Las Vegas, Panera Bread and Marriott International.

O2O on the Go

Consider these global brands the latest to join the O2O market, where merchants provide online product and service information via a website, QR code, application or location-based service, and customers make an order or confirm a purchase, and then pick up that product or access the service offline, typically at the business location.

O2O e-commerce includes in-store pick-up of items purchased online, in-store returns from online purchases, and customers placing online orders inside physical stores. Big players in the O2O space include Airbnb, Uber, booking sites and big-box retailers.

Amazon.com’s $13.4 billion purchase in 2017 of Whole Foods Markets, and retail rival Walmart’s $3.3 billion deal a year earlier for e-commerce company Jet.com are prime O2O examples.

Though Walmart is winding down the Jet.com brand, the company says the acquisition drove curbside pickups, home delivery and expanded categories beyond groceries into apparel, home décor and others.

Amazon’s latest O2O shift centers on the launch of Amazon Fresh stores, where shoppers can utilize its Dash Carts to find items, track purchases and skip checkout lines via grocery scanners and contactless payment. The first Amazon Fresh store opened last month in Woodland Hills, with other pending California openings in Long Beach, Northridge and North Hollywood. It also opened a store in Irvine.

The ongoing developments are fueling the O2O market, which is forecast to grow from $156.5 billion in products and services last year to $393.1 billion by the end of 2026, with a compounded annual rate of nearly 14%, according to 360 Market Updates.

The Next One

While the pandemic has upended daily life and triggered deep reassessments of the workplace and greater economy, it has also pushed the private and public sector to prepare for the next outbreak.

In the era of social distancing technology will play an even greater role, and QR applications will continue to grow, evident by the recent move by PayPal to introduce contactless QR payments, and Apple featuring more support for QR applications in its latest iOS update for iPhone users. iWallet is preparing to launch its version of QR payments.

“QRs are just one of the ways to adjust to this new environment,” Kolchin says. “This is the future.”

Copyright © 2020 California Business Journal. All Rights Reserved.

Article edited and published by Rick Weinberg, California Business Journal’s Founder and Editor-in-Chief

Click here to view the magazine version of the iWallet article.

 

s2

 

Tags: AirBNBAmazonApplebay areaBeachbeerCaliforniaCasinosconsumersCoronaviruscoronavirus pandemicE-commerceeconomyemployeesentrepreneurhealthyHollywoodinformationIrvineiWalletgJimJim KolchinLas VegaslocalLong BeachloyaltyO2OOnline-to-offline e-commercepigrestaurantsSan Franciscotechnologyuberwalmart
ADVERTISEMENT
Chris Casacchia, Senior Writer, California Business Journal

Chris Casacchia, Senior Writer, California Business Journal

Chris Casacchia covers U.S. and global equity markets, finance, startups, venture capital, private equity, aerospace and SEC disclosures. A graduate of Arizona State University, Chris was Technology Editor for the Orange County Business Journal before joining California Business Journal as Senior Writer. He is also a Media Consultant.

Related Posts

How Can QR Codes Assist In Modernizing Today's Classroom Instructional Exercises
How Can QR Codes Assist In Modernizing Today's Classroom Instructional Exercises?
advertisement
ADVERTISEMENT

CBJ Newsletter

Facebook Twitter LinkedIn Instagram LinkedIn

Advertise With CBJ

Contact Rick@CalBizJournal.com

CBJ Rates and Demographics

Job Postings

CEO Wanted


Requirements: BS/BA + 2yrs of Business Managing Experience

Mail Resume: Grand Life, Inc. 14647 Northam St. La Mirada, CA 90638.

$114,754/year

ADVERTISEMENT
1REALTOUR-SAN DIEGO-WEB DESIGN
Facebook Twitter LinkedIn LinkedIn Instagram
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • Gavel, scales of justice and law books

    Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Five Reasons Why The Government Does Not Like Bitcoin

    0 shares
    Share 0 Tweet 0
  • How to Start a Telecommunication Business: A Step-By-Step Guide

    0 shares
    Share 0 Tweet 0
  • 6 Types of Business Records and Receipts Every Small Business Should Keep

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0

Latest Articles

Q&A with Jennifer Woods, Vice President and Associate General Counsel of FrontDoor on Why Companies Should Release Sustainability Reports.

Q&A with Jennifer Woods, Vice President and Associate General Counsel of FrontDoor on Why Companies Should Release Sustainability Reports.

Best Practices for Establishing Secure Password Protocols

Best Practices for Establishing Secure Password Protocols

How to Up Your Marketing Game with Real Estate 3D Rendering

How to Up Your Marketing Game with Real Estate 3D Rendering

Tips For Designing A Vinyl Banner For Your Business

Tips For Designing A Vinyl Banner For Your Business

15 Useful Animation Makers for Novice Entrepreneurs (2023)

15 Useful Animation Makers for Novice Entrepreneurs For 2023

What is FinTech?

What is FinTech?

IT Company Tips: How to Develop IoT Mobile App

IT Company Tips: How to Develop IoT Mobile App

Offline Marketing Strategies for Brand Visibility and Awareness

Offline Marketing Strategies for Brand Visibility and Awareness

Around the U.S.: Benefits of Getting a Loan From Hard Money Lending in Colorado

Around the U.S.: Benefits of Getting a Loan From Hard Money Lending in Colorado

6 Easy Ways to Win the Online Casino

6 Easy Ways to Win the Online Casino

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR