The Benefits of Loyalty Ecosystems & Rewards Liquidity
qiibee’s Global Rewards Liquidity Report 2023
The Rewards Economy: Unlocking Purchasing Through Liquidity
In today’s economy, the scope of reward programs extends beyond mere customer retention strategies to become the third preferred mode of payment globally. However, with an estimated $48 trillion in unspent loyalty points worldwide, a significant economic potential is being overlooked. Here we explore an innovative approach to unlock this dormant purchasing power – loyalty ecosystems and rewards liquidity.
The Problem: Unlocked Potential in Loyalty Points
The prevalent issue hindering the effectiveness of loyalty points lies in their limited liquidity. While consumers accumulate these rewards across various platforms, the restrictions on earning, spending, and converting these rewards from one platform to the other often suppress their full potential. Furthermore, a lack of transparency and trust within the industry makes it difficult to comprehend the effective valuation of loyalty currencies, leading to not knowing the true worth of these points.
Our Mission: Transparency, Trust, and Liquidity
In response to these challenges, our mission is to create more transparency and trust within the loyalty industry. We plan to achieve this by introducing a comprehensive rewards liquidity score and index system. This system aims to provide a universal standard for gauging the liquidity offered by various reward programs, thereby simplifying the assessment and comparison of these loyalty programs for consumers and companies alike.
Unlocking Benefits for Companies
Our rewards liquidity system provides multiple advantages to companies. They can compare their rankings with peers and competitors based on the common liquidity score and index, offering insights into their performance within their industry and regions. This system also allows companies to monitor and analyze their loyalty currency’s value, guiding them towards strategic improvements for their loyalty programs.
Empowering Consumers with Choices
From a consumer perspective, the benefits are many. Consumers can determine the most valuable loyalty points based on a common standard, expanding their awareness of new loyalty programs and points. This initiative also offers insights into loyalty mechanics, helping consumers better understand how and where to earn and spend points most effectively.
The Future of Rewards Liquidity
Loyalty ecosystems and rewards liquidity represent a forward-thinking approach to the current rewards economy. By making these points more liquid and insightful, we can unlock the immense purchasing power underlying these reward currencies. This innovation not only benefits companies and consumers, but it also has the potential to reshape the broader economy.
We believe in a future where loyalty points are as liquid and comprehensive as any other currency, ultimately unlocking the trillion dollar potential of reward points.
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