Restaurant loyalty by blackbird : The most interesting business case in web3

Why?

Mix Loyalty and tokenomics to

Solve a specific business problem

Let’s look at Blackbird business model

1️⃣ Context of the Restaurant Business in New York

– In 2022, the U.S. restaurant industry generated $890 billion in sales.

– Profit margins have plummeted from 20% to just 4%.

– 80% of independent restaurants go out of business within five years.

2️⃣ Blackbird : Restaurant loyalty

– A transparent and decentralized rewards system: $FLY.

– Restaurants and customers earn $FLY tokens through actions like check-ins and payments.

– Blackbird empowers both diners and restaurants with control over rewards and data ownership.

– It offers a holistic view of customer lifetime value.

– The protocol is governed by major stakeholders within the restaurant industry, ensuring transparency and accountability.

3️⃣ Blackbird Restaurant loyalty vs. current loyalty programs

Current Loyalty programs fall short in three crucial ways. 

– They encourage loyalty not to restaurants but instead to the third parties that run them. 

– Restaurants pay fees for the privilege of allowing their customers to earn points, they do not themselves earn points or control how they can be redeemed, and are therefore not a party to the upside of these systems. 

– Each program operates independently of the others. As a result, a restaurant’s understanding of any individual customer’s value is siloed and incomplete, calibrated only to their activity at a specific restaurant or restaurant group. 

=> A coalition approach would provide all players with a holistic view of activity and, therefore, LTV. 

4️⃣ The Perspectives of Restaurant loyalty Blackbird

Restaurants regain control of profitability and sustainability while enhancing customer experiences.

Customers enjoy transparent rewards and a more engaging dining experience.

As Blackbird evolves, it holds the potential to reshape Loyalty, Engagement and data ownership in the digital age.

You want to know more about Restaurant loyalty Blackbird or other best in class Loyalty programs : Contact us