14 lines
2.4 KiB
JSON
14 lines
2.4 KiB
JSON
{
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"HubID": "2130",
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"Date": "1/10/2023",
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"HubTags": [
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"External Platform Posts"
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],
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"Contacts": "",
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"Companies": "Starbucks",
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"File": "",
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"Image": "",
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"Summary": "#starbucks is unlocking #brand #marketing and potential revenue through a previously locked value stream. Here is how and why it is important.",
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"Notes": "<p>#starbucks is unlocking #brand #marketing and potential revenue through a previously locked value stream. Here is how and why it is important.</p><p>The overhaul of their #loyaltyprogram to include #web3 means that holders can sell their perks.</p><p>Loyalty members can gain perks a variety of ways, but if they want to sell off those benefits to someone else, they can do that.</p><p>That opens up a secondary market for Starbucks loyalty perks. Rather than tying perks to a person, those perks are now independent and accrue to whoever currently owns the right to those perks.</p><p>And, perks can continue to accrue, making them more and more valuable as time goes on.</p><p>This is important because:</p><p>1. Starbucks is using web3 to let people do what they want with what they own. They are pushing more control to consumers, which makes them happier and strengthens the brand appeal. And it is more than just about selling off perks. Consumers can use the #nft backing the perk as part of social signaling to others. Will consumers use this to start creating their own associations with other loyalty NFT owners? Will Starbucks open up the potential for owners to do other things with their NFTs? The possibilities are endless.</p><p>2. For Starbucks, it is creating brand marketing for itself by productizing something of value that was previously locked. Unlocked and there is now another way for the Starbucks brand to be advertised through new transactions.</p><p>3. Will Starbucks create a new source of revenue by taking a royalty off of each sale, which it can do right now because this capability is part of web3 infrastructure? Will it instead allocate that revenue towards a charitable purpose, or some other purpose that directly benefits its loyalty members? The possibilities are endless.</p><p>Starbucks is a #food brand in a #consumergoods category that may not benefit as much via new meaningful revenue from web3 as other categories like outdoor and luxury.</p><p>For Starbucks, it is more about making its brand stronger with consumers by pushing control and abilities to consumers to do what they want.</p>"
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}
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