Highlights of the week (April week 2)

???Target is finally launching its new Target 360 rewards program this week

Starting this week, every Target customer might receive even more points and savings thanks to the Target 360 rewards program. A revised rewards program, which we discussed a few weeks ago, is set to launch this week with three new membership options: a free membership, a retail card option, and a new paid membership that includes members with many interesting benefits such as same-day delivery. These newly introduced offerings are part of the retailer's overall strategy to provide its customers with a more cheap and cost-effective shopping experience. This is also part of the retailer's plan for competing in the home delivery industry with major players like Amazon Prime and Walmart. During the launch week, Target are continuing to prioritize their consumers by giving additional offerings for people in which they can save up to 40% on specific purchases of a variety of their products. In the end, the home retail market has become pretty much saturated and many retailers are currently fighting with rewards program programs to stand out and meet the needs of their customers.

??Kura Sushi USA has seen a good impact after adopting their first-ever rewards program initiatives

After implementing rewards program measures, a sushi store in America witnessed a significant improvement in its business operations. According to the management, Kura Sushi USA's sales have skyrocketed as a result of the shop's first reward program activities. Customers from the United States now account for almost one-third of the shop's sales, already up from less than a quarter the previous year. To promote the rewards program, the store also mentioned that they had signed a very favorable contract with DoorDash for third-party delivery. This partnership not only strengthens the business's market position and reward program, but also allows the shop to keep the same menu prices for in-store dining and delivery. The sushi restaurant has 60 locations throughout 17 states in the United States, and as a result of the success of its rewards program, it intends to add 14 more restaurants this year, drastically increasing from before the rewards program was implemented.?

??Arby's rewards program is currently offering free sandwiches for the entire month of April

Arby's is offering one free sandwich per week in April to members of its reward program. The fast food chain is now seeking to expand its rewards program membership and encourage customers to explore new menu items by providing free sandwiches to members this month. Through the April Free Sandwich Month campaign, over 3,500 of its restaurants will offer free sandwiches to customers who make purchases through the chain's website or app. Its chief marketing officer noted that this technique has become one of its largest rewards initiatives to date and that it is part of a drive to reassure customers who were previously skeptical of the chain's menu. They are convinced that even the biggest Arby's “hater” will become a fan, especially with the help of the campaign To promote the rewards program offerings, they also ask four people who are skeptical about Arby's food quality to go through a biometric scanner to discover how they genuinely feel about what they're eating. What do you think of this novel approach to the rewards program??

??The popular metal band Avenged Sevenfold is entering the world of web3 rewards program

Jay Wennington?

Many well-known artists, including musicians, football players, and celebrities, have entered the realm of web3 and NFTs. The popular band Avenged Sevenfold becomes the newest artist to enter that world through the introduction of their Season Pass, a web3 rewards program built on the blockchain network. The Season Pass rewards program allows their fans to earn points in a dynamic virtual realm, which can then be redeemed to attend the band's live shows, scan NFC tags on the band's merchandise, stream their music, redeem digital codes, meet-and-greet opportunities, exclusive unreleased tracks, and much more. The only thing fans need to do to gain access to the Season Pass is create a digital wallet, which they can then quickly link to the band's website and begin their journey to a world of exclusive prizes and immersive experiences supplied by Avenged Sevenfold. This new rewards program is something unique that ushers a new era of rewards program integration in the music industry.??

??In order to enhance consumer frequency, retailers are beginning to streamline their rewards programs

Many consumers today desire rewards programs, except when the programs are hard to navigate and consist of a complex digital interface. Many shops around the world are beginning to alter their rewards programs as they become more aware of the need to fulfill customer demand and streamline their shopping experiences. Streamlined experiences may be the key to the long-term rewards program. According to the PYMNTS Intelligence survey, many shoppers will judge how a rewards program is easy or hard to use from the moment they decide to make purchases and the redemption process. As a result, many shops will continue to need to fine-tune, and in some cases restructure their rewards programs. According to the same report, many consumers across countries also demand omnichannel rewards programs that are innovative and unique, which is not enough yet in the current market. During the current era where rewards programs have become an area where many retailers continue to fall short of customers' expectations, it’s important to not only offer exciting rewards but also create a rewards program that is easy to use and understand.

??In today’s evolving digital landscape, real-world asset tokenization emerges as the future of rewards program

In today's quickly changing digital landscape, the old concept of reward programs is experiencing deep transformation, with tokenization seen as the one positioned to revolutionize rewards programs and pave the way for enhanced customer engagement and satisfaction. Tokenization allows rewards to be translated into digital tokens, providing customers with unrivaled flexibility and accessibility, which adds something unique to traditional rewards programs that typically have restricted redemption options. Tokenizing rewards gives up unlimited possibilities for businesses to provide more value and tailored redemption alternatives to their customers as well. Businesses may build completely unique and individualized reward experiences by connecting tokens with a varied range of assets other than traditional items. This can deepen the emotional connection between customers and the brand. Tokenization also allows for the seamless integration of rewards programs into larger ecosystems, providing customers with a unified rewards platform that allows them to earn and redeem tokens across numerous brands and industries and increasing the overall value of the rewards program. Additionally, many brands are starting to apply this since it unlocks the potential of non-fungible tokens (NFTs) in their business operation. As a result, businesses can add a fascinating layer of value and desirability to rewards while driving excitement and increased customer engagement.?

??Brands leverage mobile rewards program to strengthen connections with members

With the continued integration with mobile technology and advances in payment solutions, rewards programs are positioned to become even more effective as a way to promote customer retention and increase lifetime value. This integration continues to increase and has led to the improvement of rewards programs, allowing customers to effortlessly make payments with reward points or receive tailored offers with a single click on their phones. This level of convenience makes an ideal environment for reward transactions and is now widely employed by numerous businesses. The development of mobile rewards programs highlights the importance of digital platforms in encouraging customer engagement and retention, with brands leveraging mobile technology to tailor products, optimize user experience, and build deeper connections with customers. The adoption of a mobile rewards program also provides brands with vast data on customer behavior and preferences, allowing them to create tailored ads and strengthen relationships with members, something that is crucial for brands to do nowadays.?

??Blockchain-based rewards programs are critical to developing brand connections and the adoption of cutting-edge technologies

Rewards programs have evolved into a universal tool that has been shown not only as a way to establish a connection between brands and their customers but also to increase the adoption of web3 and many cutting-edge technologies. Rewards programs that are not dependent on restricted monetary systems enable brands to engage with more diverse customers, including those unbanked customers who are usually excluded from economic activities, and provide them with borderless digital assets that can be used as an alternative to fiat money or gift cards. Implementing new technology into rewards programs nowadays is also being proven to assist people in understanding the practical benefits of the technology used behind the program, helping those who are not familiar with the concepts and buzzwords of certain technology to become more aware of it and start embracing it. Additionally, in today’s environment, implementing cutting-edge technologies into rewards programs can be the ideal solution to provide a single rewards program that allows customers to participate in multiple rewards programs seamlessly through a single app. In today’s globalized market, it is important for brands to use cutting-edge technologies to keep up with the different needs of the global customer base and build a better connection with them.?