Shrew, Revolutionizing Reward Points, here is what we propose. Here is all the information that will interest you and welcome to the Shrew Ecosystem.
Shrew, the use of the latest technology allows us to offer a new experience in reward points and this is what we do on the platform we propose you to use.
Shrew Rewards Platform
A single app seamlessly integrating with multiple reward point schemes. Earn, spend & trade with Shrew.
A fully compliant Binance Smart Chain token that will be the cornerstone of the rewards ecosystem.
Let’s take stock of the environment in which we are evolving:
Crypto-currencies are the next step in the evolution of money in the digital world. With the recent increase in value and adoption of crypto-currencies, there will be an increased appetite for real-world application of blockchain technology to solve existing problems, optimize existing solutions, and streamline access to products. Decentralized finance (DeFi) is an emerging sector that aims to spearhead the nancial application of blockchain technology and crypto-currencies with the goal of disrupting nancial intermediaries and the mainstream.
The loyalty rewards market is an industry with tremendous growth and potential. By 2021, the market size is expected to be over US$7 billion and is expected to reach over US$25 billion by 2027. It is this kind of size and growth potential that Shrew wants to target!
The loyalty rewards market is one of the most entrenched and least technologically advanced sectors within traditional commerce. The industry here is rife with ineciency, ineectiveness and oftentimes disregard for customer benets at the expense of the companies oering rewards.
Along with the growth prospects, vast internet adoption and the rise of blockchain and cryptocurrency technology, we see an enormous opportunity to capture a signicant share of the market.
Shrew stands for SHopping REWards. Our mission is to revolutionize rewards points by building a community backed cryptocurrency and rewards platform that will oer a universal rewards token that is fungible, secure and easily accessible.
One token to rule them all!Our Vision: Create the world’s largest loyalty rewards platform with a universal token that can be exchanged or used like any other currency. Democratize the reward points industry for all merchants and consumers.
Revolutionizing Reward Points with Shrew
In ecommerce, it is usually quick and easy for a consumer to sign up for a retailer’s loyalty program. But how many of your customers are actually becoming a loyal advocate to the brand?Traditional loyalty programs suer from the following issues.
1.Low redemption rates.Perhaps because of the large number of loyalty programs in the market, it’s easy for them to get lost in the shue, and points go unredeemed. Surveys show that the average American is a member of 7 loyalty programs, and 30% of American consumers never redeem a single point. Until those points expire (if they ever do), they just sit there as a liability on a brand’s bottom line, having failed at earning repeat business.
2. High costs.Large stores and successful ecommerce shops often pay high prices to setup and maintain their third-party integrations or custom solutions for customer loyalty programs. Whether they are making adjustments to an existing app or building their own from scratch, developer and maintenance fees can range from $2K – $15K a month for an enterprise-level solution. Understandably, if you are not seeing a strong ROI from reward program costs, it’s not worth it to keep the program.
3. Few customer incentives.Today’s loyalty programs tend to favour the company providing them, instead of the consumer. For example, customers are forced to make purchases they don’t need in order to reap the rewards.Research also indicates that 33% of millennial consumers dislike reward programs simply because there are too many cards to carry. If your loyalty program isn’t fostering a positive relationship with your consumers, what’s the point of it?
4. Security concerns.Some consumers may be wary of data breaches and the security of the information they give out when joining a loyalty program. A Harris Poll found that 71% of consumers were less likely to join a loyalty program that collected personal information beyond just name and phone number. They are right to have some concerns. In 2017, 11% of attacks on nancial accounts were specically on loyalty accounts, an amount that had risen from 4% the year before.
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