Starbucks launches NFT customer loyalty Program Starbucks Odyssey

Starbucks 'investor day is coming up, and answers about Starbucks' plans to remodel and unionize U.S. stores will be forthcoming. Before the investor day event, Starbucks officials also released some news, including about employee benefits and customer loyalty programs.

As for employee benefits, Starbucks announced two employee benefits this time. A student loan management benefit designed to help eligible partners manage and optimize student loan repayments. Another is personal savings account benefits. Starbucks has partnered with Fidelity to launch a new savings plan, My Starbucks Savings, in which all eligible US business partners can save a portion of their income in personal accounts for emergencies.

However, these two employee benefits are only available to Starbucks employees in the United States.

With regard to customer loyalty programs, Starbucks partnered with Polygon to launch Starbucks Odyssey on the Web3 platform. The platform combines Starbucks 'loyalty program Starbucks Rewards with the NFT platform, which is expected to launch later this year. At that time, Starbucks Rewards loyalty program members and Starbucks partners (employees) in the United States will be allowed to earn and purchase digital collection stamps in the form of NFT, unlocking exclusive experiences and rewards.

Starbucks loyalty program rewards model currently allows consumers to earn "stars" in exchange for perks such as free drinks…However, according to Starbucks, Starbucks Odyssey will be the industry leader, loyal customers will be able to participate in a series of activities in the platform to receive interaction and fun challenges, and deepen the understanding of coffee and Starbucks brand. When they complete these activities, members can acquire these digital collections in advance in the form of NFT.

In addition, members can purchase these NFT collections through the platform's built-in marketplace. While hosted on the Polygon blockchain, these NFTs will be purchased using credit or debit cards without the need for cryptocurrency wallets. The company believes this will make it easier for consumers to participate in the Web3 experience by lowering the barriers to entry.

Various NFT collections will have a point value based on their rarity. Moreover, NFT Collections can be bought and sold on the platform with Starbucks Odyssey members.

The new platform will offer benefits beyond those available with traditional Starbucks rewards accounts and stars. Points earned in Starbucks Odyssey translate into unique benefits and experiences like never before.

These experiences could be a virtual espresso course, a unique collaboration with an artist, an invitation to a special event at Starbucks Reserve Roasting Workshop, or even a trip to Starbucks 'Alsasia Coffee Estate in Costa Rica.

Over the past few years, Starbucks has used emerging technology to bring consumers closer to the industry giant. Wi-Fi was introduced into stores to encourage customers to spend more time during visits; the concept of mobile payments was promoted before Apple Pay became ubiquitous; and online ordering was the norm before the new crown epidemic arrived.

This time, Starbucks used emerging technology to reshape the third space, drawing some negative reviews. Of course, Starbucks 'new Web3-based experience will bring benefits to enterprises, which will take time to verify.

For now, customers and Starbucks partners can join a wait list at waitlist.starbucks.com for a chance to be the first to get into the Starbucks Odyssey experience, which will launch later this year.

Image Source: Internet

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