Via S.S. Trinità, 3 Chiari (BS)

Improvement Of Customer Loyalty Programs

Customer loyalty plans are a market worth almost $2 billion, a figure that could triple by 2023, growing at least 20% more each year.

74% of Italians are enrolled in a loyalty plan with at least one retailer offering this type of initiative (EU and World average 66%). 44% are members of between 2 and 5 loyalty, one consumer in six (17%) is enrolled in more than six loyalty program.

The data emerges from Nielsen’s Global Survey “Retailer Loyalty: Card-carrying consumer perspectives on retail loyalty-program participation and perks” based on a sample of more than 30,000 individuals in 63 countries.

Consumers face the challenge of monitoring the numerous loyalty program they are registered to and many of the loyalty points created each year are not used, thus leading to balance sheet liabilities.

A blockchain application would help users easily redeem points across different  merchants and platforms (e.g. Android, iOS and web) while minimizing operational costs, decreasing the possibility of fraud and improving customer satisfaction.