Loyalty programs have been around for decades and are still very popular with the public.
More than three-quarters of UK customers surveyed were a member of a loyalty program and roughly half agree that a loyalty program encouraged them to return to a particular brand.
Businesses reported that loyalty programs helped generate up to 20% of their profits, making them an important tool for repeat sales. It makes sense, then, that businesses would allocate a decent budget to their loyalty program.
The problem, especially for small businesses, is that loyalty programs have stagnated. Almost every business, big or small, offers some kind of loyalty scheme, leading to a lack of differentiation.
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