The market value of loyalty points exceeds hundreds of billions. In the meantime, the amount of expired unredeemed points exceeds $100bn in North America only🙈 Book value of loyalty points is about to reach $500bn in 2019😱
The majority of loyalty programs (LP) are inefficient.👎🏻Operational inefficiencies such as account inactivity, low redemption rates, low client retention rates and high acquisition costs are the main problems of loyalty programs.❌Programs are not compatible with each other. Customer activity is limited by offers of loyalty programs.
There is no technical opportunity to convert points of various loyalty programs to the points of other loyalty programs. The creation of a loyalty points exchange may be a solution to this problem and there are projects already that are moving in this direction. However, they have significant drawbacks, as some of them include a very limited number of bonus programs, some require the presence of all bonuses in a certain amount, some do not have a convenient interface, some do not have confidence from users. However, they have significant drawbacks, as some of them include a very limited number of bonus programs, some require the presence of all bonuses in a certain amount, some do not have a convenient interface, some do not have confidence from users. There is a number of loyalty programs that allow users to convert bonuses of companies only of similar subjects, for example, flights.
WULET blockchain ecosystem allows to:
• Benefit from entering a “blue ocean” market of tradable loyalty (bonus) points.
• Breathe new life into the “tired” concept of loyalty programs.
• Receive data, which will allow to adjust loyalty programs strategy and increase ROI.
