How Blockchain can help the loyalty business ?
Blockchain is considered to be a powerful solution for financial decentralization. Did you know blockchain can revolutionized many other industries and fields ? At Fidly, we believe decentralization will help a major change in the loyalty rewards industry.
Actually, the loyalty industry is characterised by numerous silo programs with independent systems for earning, redeeming, and not so often exchanging their points. An average European participates in 8 differents loyalty programs, without knowing it. 30% of consumers never even redeem a single point.
Why is there so much stagnation within loyalty rewards programs ?
- Most of the time, consumer are lost and unaware on how and when they can redeemed their points.
- Secondary, consumers do not know where to spend them. Above all they often don’t have the opportunity to spend them in other loyalty programs. The fact is centralization of points is pushing consumers far away from loyalty without cross-selling programs.
Let’s take an exemple :
You have a value of 100€ of unredeemed point with your best retailer. Do you know how to spend it ? When to spend it ? Can you spend it only in this shop ? With proofeo loyalty program with blockchain we tokenized points. In a manner that your 100€ can be cashed and spent in any retailer members of fidly’s blockchain.
Our solution enable people to send, exchange and even cash their point in real money (crypto or fiat currency).
Our mission is to create branded tokens, (free from market speculation), and easily manage, cash, or spend points from a program to another. We want to create attraction around loyalty programs. We are 100% convinced, that early adopters of our technology will lead the loyalty market in their activity field, by gaining and retain fastly consumers.