Becoming an investor takes money. While the payoffs can be great, the learning curve is high. It takes years to understand the market’s ups and downs and what stocks are worthwhile. So, what’s an amateur investor to do? Enter iConsumer, the best way to make extra money online!
iConsumer is a start-up that allows shoppers to gain stock in iConsumer itself just by making online purchases. It is different from similar websites and apps as it rewards customer loyalty with not only the opportunity to get rebates or discounts on a variety of products (as do eBates or RetailMeNot), but also to own company stock shares.
Put simply, instead of special points, cash back or miles, the company uses itself, or its publicly traded equity, as a reward for shopping. It gifts online shoppers who otherwise would not have the opportunity with a chance to invest in a public company cost-free.
Obviously, retailers want more business. The company can provide these shares to shoppers because more than 2,000 retailers such as Amazon, Target, Walmart, Gap, to name a few, pay iConsumer referral fees to attract customers. This helps both retailers and iConsumer. More attractive online deals (not to mention free stock!) result in more shareholders shopping online, which obviously means more money for retailers. And as more shoppers use iConsumer, the company becomes stronger, which increases iConsumer’s market value and stocks. This means that shoppers directly play a role in increasing the market value of the company. It’s a win-win for all parties!
The feeling of ownership and helping to grow an actual business is key to the company’s success, co-founder and CEO Robert Grosshandler said in a press release.
“iConsumer is the only company to offer tradeable stock to all of its customers,” he stated. “We’re building on the premise that ordinary people, the 99%, should have access to the startup economy. Consumers—if they know it or not—help companies grow big, go public, and become very valuable; we at iConsumer believe those customers should be rewarded for their contributions.”
The most amazing thing about iConsumer is that you start earning stock at absolutely no cost to you. All you have to do is sign up! You will then be prompted to install the iConsumer button on your computer.
When the iConsumer button is added onto your browser, and you make a purchase online, the button automatically records it and adds it to your total number of stock shares. It is simple to do and takes almost no effort on your part. Once you download the button (which takes all of about 10 seconds), you are set to shop!
You do have to make sure, however, that any online purchases you make are through iConsumer’s special portal, but it is easy to search for specific stores and enter retailers’ websites directly from iConsumer’s website. You just have to remember to do it!
After you sign up and make your first qualifying purchase with the company, you automatically receive 500 shares. As of September 17, iConsumer’s stock was rated at 16.7 cents a share. Each purchase after that receives a percentage of stock, which is shown per store on the company’s website.
As of this writing, there are 58,745 members. The company’s goal was to sign up 1,000,000 in 2019. While it fell short of that goal this year, word is just beginning to spread.
Investor Kevin Harrington of ABC’s popular reality television show “Shark Tank,” who invented the infomercial and pioneered the concept of the “As Seen on TV” brand, recently joined the venture.
“I’ve become an investor to take this vision to a new level, and introduce millions of people to the world of investing—all by doing something they’re already doing: shopping,” Harrington said in a press release. “The more people who experience being owners with me, the bigger iConsumer will become. We have the chance to create a massive company, with millions of customer/shareholders.”
The big question then becomes: when can I cash in?
For example, if you own 5,000 shares of stock valued at $0.20 a share, you could potentially be looking at receiving a total of $1,000 in your bank account. But how can you access it?
According to the company, this is when everything changes from the virtual (I own stock, woohoo!) to the actual (what do I do with it?). It all comes down to who is willing to buy your stock.
Just because stocks are free and you earn them by shopping, doesn’t mean you don’t have to do anything. Recall that the idea behind iConsumer is that it allows average people who would not normally buy stock to own it—and experience all that shareholding means.
Thankfully, iConsumer has you covered with simple-to-understand descriptions of Wall Street words you might not recognize. There is even a real-time chart of your stock’s fluctuations on the site so you can keep track of them, webinars about how to best handle your stock, and virtual shareholders’ meetings with others who have invested.
Eventually, as you shop more and increase your stocks, you will need to send them to a brokerage firm to help manage them, which is where the process could become tricky. iConsumer does this for free if you have 5,000 or more shares.
(More information on this and other specifics are available on their website iconsumer.com.) Otherwise, it may run a fee of between $25 to $50, according to their site, a small price to pay if the company hits it big.
Just as with any other start-up company, there are risks involved with owning the company’s stock—even though it’s free. People could stop shopping. People could stop using iConsumer. Or the company could fall flat on its face. In that case, you would have wasted a little bit of your time and possibly a little bit of capital, but hopefully not too much.
That’s all part of the stock market game, what iConsumer wants you to experience—the ups and downs of being a shareholder without putting any real money down. It’s also why it’s up to you as an iConsumer shareholder to encourage others to use it and gain stock for themselves in the process.
If you are an avid online shopper, why not try it out? You’ll learn what it’s like to be shareholder all while buying whatever you want!
To learn even more watch the video below:
If you have any questions, please ask them below. I’m always happy to help!
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