#Giveaway  on last slide

Starbucks Launch Web3 Rewards Program To Attract New Customers

Scribbled Arrow

The global coffee chain franchise giant Starbucks plans to introduce a new Web3 rewards program that will attract and keep customers in the store as per the company's temporary Chief Executive Officer, Howard Schultz.

During the company's annual Q3 financial conference call, Schultz said Starbucks will soon reveal a new Web3 "digital initiative" that will expand upon the company's loyalty program:

"This new Web 3 enabled digital initiative will let us enhance the current Starbucks Rewards model of engagement using its highly effective spend-to-earn Stars approach while innovating new ways of engaging customers emotionally."

He kept the cards in his pockets. The CEO briefly stated on the conference call that the company was considering

"integrating the electronic Starbucks Rewards platform with the Starbucks brand of digital collectables to serve as an incentive and community-building element." 

The official announcement will be revealed at Starbucks' Investor Day on September. 13.

In the conference telephone call, Schultz added that the Web3 decision is part of an effort to attract and keep the younger segment of Starbucks customers.

"We aren't looking to operate in a situation that has a customer base that is ageing, and we're in an unsatisfactory relationship with younger customers,"

He further said that the company is "never been in its history more relevant than it is currently in relation to Gen Z."