ShopNEXT
English
English
  • πŸ“–Whitepaper
    • ⚑Litepaper
    • πŸ“„Abstract
    • 🌱Background Information
      • What is Web3 and why does it matter?
      • What keeps Web3 from world adoption?
      • Why did we start with eCommerce?
      • Why does loyalty matter?
      • Why was ShopNEXT born?
    • πŸ›οΈOur business models
    • πŸ•ΉοΈHow to play
      • Partnered deals
      • Subscription plan
      • What are NFT cards (bonus cards)?
        • Redeem and open NFT card case (bonus card case)
        • Boost NFT cards (bonus cards)
        • Recharge NFT cards (bonus cards)
      • Reward index
      • NFT card (bonus card) marketplace
      • Rewards calculation
      • Fees and rules
      • V3 migration notice
    • ⛓️Our blockchain platform
    • πŸ’°Our tokenomics
      • NEXT token
      • Revenue streams
    • πŸ—£οΈOur referral program
    • πŸ’ͺOur team
    • 🀝Our partners & backers
    • πŸ“Our roadmap
    • πŸ“Change log
    • ⚠️Disclaimer
    • πŸ“ƒTerms of Use
    • πŸ”Privacy Policy
    • 🎰Guess Right Win Gifts T&C
  • πŸ€”FAQ
  • 🧩LINKTREE
  • πŸ› οΈTutorials
    • ⁉️How to buy NEXT to upgrade MOON level for beginners, step-by-step
    • ⁉️How to install Binance wallet
    • ⁉️How to buy USDT on Binance
    • ⁉️How to register a Metamask Wallet and add the NEXT token
    • ⁉️How to buy NEXT on PancakeSwap
    • ⁉️How to upgrade MOON member with Metamask
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  1. Whitepaper
  2. Background Information

Why does loyalty matter?

PreviousWhy did we start with eCommerce?NextWhy was ShopNEXT born?

Last updated 2 years ago

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When consumers are willing to buy from one brand over another – that’s brand loyalty. The fact is that no one is 100% loyal to anything but customers respond with loyal behaviors when they feel engaged and rewarded.

  • Acquiring a new customer can cost more than retaining an existing customer.

  • Increasing customer retention by 5% can .

  • The success rate of selling to a customer you already have is %, while the success rate of selling to a new customer is 5-20%.

The above statistics shows how importance it is for merchants to develop loyalty programs. Traditional loyalty programs are designed with points and coupons but they have been becoming complicated, difficult and expensive than they should be. The fact that consumers constantly bombarded with random offers, downloadable coupons as well as having to carry multiple loyalty cards, etc. makes it too hard for the model to success. As such, the old traditional loyalty system is inefficient, has too much cost, friction and too little access to powerful data.

With the advent of Web3, we believe there must be a better way to build a loyalty system.

πŸ“–
🌱
five times
increase profits from 25-95%
60-70