Believe it or not, the current loyalty and reward systems are mostly a money sinkhole for any company that uses them. Studies show that millions of dollars are stuck within these programs as customers rarely use them or are not engaged enough to consume or participate in these loyalty programs. This is an alarming fact as more than 70% of shoppers own or have engaged in some loyalty program.
When asked why they do not like to engage more with these systems, customers have reached the conclusion that it’s just not worth the paperwork hassle they have to go through to get only a slight advantage. What if there was a way to refresh these old marketing methods and upgrade them with a groundbreaking technology like blockchain? With this technological revolution, users will not have to wait for any paperwork as the system in the background will handle most of the processes.
Introducing Raincheck: The Global Exchange Platform for Loyalty and Reward points!
Once it goes live, Raincheck will give it’s users the opportunity to exchange their earned loyalty points into something that they want! Many of today’s blockchain projects are using Ethereum as their core technology; the Raincheck platform has decided to go another way with the Stellar ecosystem, here are some advantages for doing so:
- High level of transaction throughput
- Elevated decentralised security measures
- Unparalleled levels of project scalability
So how does it work? Once a customer registers with the raincheck platform, they get a customised account where they input all of their shopping preferences and other relevant details, when they decide to shop for something from a partnered shop they will receive an instant bonus in the form of Rain Tokens.
This received bonus can then be swapped for its real store of value and converted directly into fiat or used to purchase other goods at a discounted price courtesy of the Rain Token. The Raincheck believes that in order for these loyalty systems to become successful they must be directly incorporated into the checkout process thus making it straightforward and intuitive for the customers to use them.
The biggest problem of today’s retail industry solved by the Raincheck Platform!
Did you know that 85% of the shoppers research and discover products online and 90% of the final transactions occur offline? Say you want to buy a new shirt, you research the model online you like the initial model but to be 100% sure that it fits you would like first to try it out. People usually save these products that they research online and then proceed to go offline and find the nearest store that offers this product.
Here’s where the Raincheck magic happens as this distributed application can record, with your permission, these products that you found online and give you the nearest shop that offers your selection at a discounted price. You also get bonus tokens that can be used right away without any other proprietary hassle as the blockchain platform performs all of these activities in the background.
Such a great information on steemit . I hope this inform useful to every stemians . Thanks for sharing @danizaharie
Nice information.
Okay I want to get this in a simpler version, this is shopping process where you get token for buying expenditure when you use Raincheck, you get the rain check token I'm I right?
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Just so many innovations off the blockchain these days...even I can't keep up.
Ya very rightly said.
It's high time.
Blockchain is a revolution