Coffee giant Starbucks is working on a new rewards program that includes branded digital collectibles for caffeine consumers.
During the company’s Q3 earnings call on Aug. 2, interim CEO Howard Schultz hinted that Starbucks will launch a Web 3-enabled initiative during its 2022 Investor Day, scheduled for Sept. 13 in Seattle.
“We believe this new digital Web 3-enabled initiative will allow us to build on the current Starbucks Rewards engagement model with its powerful spend-to-earn stars approach, while introducing new methods of emotionally engaging customers Introduce and expand our digital third-place community Offering a broader range of rewards, including unique experiences you can’t get anywhere else, Integrating our Starbucks Rewards digital ecosystem with Starbucks-branded digital collectibles as rewards and as an element in building a community.”
Schultz says the coffee chain hopes the new initiative will help it retain customers and attract new ones. The CEO adds that Starbucks wants to remain attractive to the younger generation.
“This will create a whole new set of digital network effects that will attract new customers and be attractive to existing customers in our core retail stores.”
Schultz’s statement follows Starbucks’ announcement earlier this year that it would enter the non-fungible token (NFT) will advance.
“We plan to create a series of branded NFT collections, ownership of which initiates community membership and provides access to exclusive experiences and perks. The themes of these collections are born from Starbucks artistic expressions, both traditional and newly created, as well as from premium collaborations with other innovators and like-minded brands.”
Featured Image: Shutterstock/Artturi
Source: Crypto News Deutsch