#FYI_About_APM | When blockchain meets a customer reward program… — 2nd Edition
apM Coin project will launch its blockchain-powered customer reward platform for apM shopping malls (apM, apM PLACE and apM Luxe), the largest wholesale fashion malls in Korea. According to the report by a global consulting firm Deloitte, there are a growing number of global companies that operate or prepare to launch a customer reward platform applying blockchain technology. In a previous series, we shared use cases about blockchain-applied loyalty systems — EMR token of Dubai’s Burj Kalifa and KrisPay of Singapore Airlines — which have some in common with apM Coin project.
Read more🔎: #FYI_About_APM: When blockchain meets a customer reward program…
Following the previous series, we will introduce two global companies including apM Coin project using blockchain to improve their customer services🙂
BMW Korea & BMW Vantage
In June 2020, German-headquartered premium manufacturer of automobile BMW Group announced that BMW Korea plans to launch a blockchain-based loyalty program titled ‘BMW Vantage’ in the second half of this year.
Customers can earn BMW Points through the BMW Vantage mobile app and use them for several affiliated services including automobile maintenance, travel/leisure services. BMW Points will be issued and managed in coins on a blockchain network; they expect that this service can allow then to expand service areas by cooperation with various industries including other automobiles, travel, culture and education business.
Ahead of this service launch, BMW Group has conducted several blockchain projects such as VerifyCar and PartChain. BMW’s blockchain-applied customer reward service BMW Vantage will be launched in the Korean market first and be rolled out worldwide.
Emirates Airlines & Skywards
Dubai’s state-owned airline Emirates Airlines has teamed up with US-based blockchain loyalty solution Loyyal to improve the airline’s loyalty program Skywards.
It is said that Emirates Airlines adopts the blockchain reward platform service in order to save operating cost, improve customer experience, and reduce financial liability which is caused by scaling loyalty programs. Other benefits of blockchain for a customer reward system include enabling a platform to integrate services with other companies/industries more easily, sharing and tracing information in more transparent manners, and minimizing risks of information tampering.
Besides Emirates Airlines, Singapore Airlines, Cathay Pacific and AirAsia have run a blockchain-powered reward program to utilize the technology benefits previously mentioned.
apM Shopping Malls (apM, apM PLACE and apM Luxe) & apM Members
apM, apM PLACE, and apM Luxe — which are one of the largest B2B apparel malls in Korea — are planning to launch apM Members app customer reward service utilizing apM Coin’s customer reward platform powered by blockchain. It is estimated that the malls have 10,000+ of average daily visitors and 1.5 million+ of annual cumulative visitors; as one of the most popular B2B clothing shopping malls in Asia, the majority of their visitors are in apparel retail/distribution business based in Korea’s neighbouring countries including China, Japan and Vietnam.
Through the mobile app apM Members, the malls aim to provide a customer reward program that can offer more customer benefits to domestic and foreign buyers of apM malls whereas the malls’ 1,300 wholesale brands can be provided with a CRM system which allows them to access integrated market data services and manage their own customers by brands.
This customer reward program will be operated based on apM Chain platform of apM Coin project. In this platform, blockchain, cloud networks and other digital technology will be applied to enhance security, interoperability and processing speed when platform users earn/redeem customer rewards and share platform data with other users.
As previously mentioned, blockchain technology is used by many global companies for the companies’ customer loyalty programs. Using the technology, the companies aim to save operating costs and improve customer services and experiences.
Since apM Coin project will also launch the service for buyer customers and wholesale brands of apM, apM PLACE and apM Luxe — the leading wholesale clothing malls in Korea, the project will make full efforts to provide satisfying services tailored for the wholesale markets which lead to improving customers’ shopping experience promoting business trades between wholesalers and buyers😊
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