Bitcoin Forum

A recent study (https://balehubucks.com/2017/10/15/the-adoption-of-cryptocurrency/) shows, 57% of respondents would choose a store over a competitor if they received cryptocurrency rewards for doing so

Many businesses from Mom and Pop to fortune 500 companies already use loyalty rewards programs, but the question is, would you prefer going to a store that offered Bitcoin incentives?

Yes, I will prefer to go to a store that offers Bitcoin incentives. But the pricing of the products matter as well. If the product prices are almost the same as the other stores, I will definitely choose the store that offers Bitcoin incentives. It is great to shop and saving some BTC at the same time.

it's really interesting, I'll choose a shop that offers bitcoin incentives to shop but with a record price of cheaper products at other store prices, we as a consumer will definitely compare the cheaper price, hopefully it runs smoothly.

I think you mean faucet like btc giveaway while shopping in a store? Yes I would love to get loyalty reward in terms of bitcoin rather than just points usual reward system have. And I think other would also love to grab some free bitcoin which might not worth much right now but with increasing price of bitcoin what they have received might become something more than worth after few months.

Of course receiving incentives of loyalty programs through cryptocurrencies would be a great deal over the redeemable points system for various reasons. First of all, it attracts more customers and those who have no idea about cryptos will get an idea and also some rewards. Next up, the company itself would get more exposure for offering rewards in Bitcoin. Wouldn't be surprised to see companies starting this up very soon.

Yes of course many more customers are getting loyal to that store specially if they offer customer loyalty awards especially if the award or points you will earned are bitcoin. It's definitely true that one of the best strategies to gain customer loyalty is true implementing this kind of loyalty reward program.

If their pricing is fair, and their service is good, why not? Crypto is obviously a lot more valuable than fiat at this point, and having Bitcoin rewards is far more appealing to me than cash discounts or cash rebates. It's a really good idea, actually, and could even introduce new people to crypto. It's win-win at first glance.

How plausible would this be though? With Bitcoin's volatility it might be a massive headache, especially for automated reward systems. The initial investment may also be too large to justify. Still, this seems like a relatively new idea as this is certainly the first I've heard of it. Studies will have to be done. We'll know for sure once someone starts setting it up.

A recent study made by who?
By your crappy blog you're spamming the forum for hits?

How about you show us who made that poll, where it was taken, who made it , what age gap did it target and so on.


If it's going to be like a faucet, you're going to get reward points in dust.
And it's going to cost you more to spend that dust than what is worth it.

Either way, it's a fake/clickbait topic, started just to promote his website.

Yes, why not! I would love to use the store where I can pay the bill in Bitcoin and if I am getting some reward for it then it will be like a cherry on the top. However, I think it will take some more time for such stores to appear in my town as I don't have even a single merchant in my town who is accepting Bitcoins as of now but let's hope for the best and I am sure we will be able to spend Bitcoins in malls too.

maybe it is just me but these kinds of "Loyalty Rewards" are always like icing on the cake not the cake itself. it depends what the shop is selling, how are their prices, what they offer, and what are these Loyalty Points. sometimes trusting (specially when online and using bitcoin) is not easy.

it i kind of obvious that when something is offered for free or as a reward, people are more attracted to it. so your 57% is not only true but also seems low.

Same way i spend fiat currency in store, if i have the opportunity to spend my bitcoin in a store where i can pay the bill in bitcoin and also be rewarded for my spending or shopping why not,i will be very help to do that.

The article was put out by the Cryptocurrency and Small Business Report, but I think it's interesting because I know I would shop somewhere for sure if I got a cryptocurrency reward.  I think the feeling that the cryptocurrency could go up in value over time makes it very attractive when compared to points that can only be redeemed at that same store and never increase in value.

I believe that is the future of Loyalty Rewards Programs and that is why Balehu is introducing the BalehuBucks (https://balehubucks.com/) token into their existing platform (Pre-ICO is Dec. 1).  Until more rewards programs follow suit, Balehu will have distinct competitive advantage.

 

Yes for sure its really great idea but execution is the problem because how the loyality work may  it will be very small amount now the transaction time and transaction fees cant compare for tiny small loyality so  executing this may be difficult for the loyality program .

The nice thing about the BalehuBucks (https://balehubucks.com) project is that the rewards will be in the form of BalehuBucks ERC20 tokens, which have a much lower transaction cost than Bitcoin.  And as a company, Balehu is committed to rewarding early adopters.  So if someone were to purchase a cup of coffee for example, the cryptoreward could be considerably more than the cost of the coffee.  Of course, as the program matures the rewards would become more commensurate with the size of the purchase. 

Yes I would. As a consumer, whatever perks, Im hoping discounts or additional freebies, that would be awesome. Especially when the price of bitcoin going up every month, your bitcoin can purchase more goods, which means more benefits if you have that loyalty program.

I would definitely go to a store that offered crypto rewards.  I've never seen one that does.  BalehuBucks, I checked out your website, the video is nicely done.  Count me in on the Pre-ICO.