Starbucks brings Web3 updates to its rewards program

Howard Schultz, CEO of Starbucks, said the Web3 space will play a huge role in the rewards program.

“We are working on a very exciting digital initiative that builds on our existing industry-leading digital platform… and it’s all centered around coffee and, most importantly, loyalty”

His company will present a new initiative on September 13 during the annual Investor Day in Seattle. The idea will allow Starbucks to build on its existing rewards model while introducing new ways to engage customers by offering a wider range of rewards.

First of all, we are talking about the release of digital collectibles with Starbucks merchandise, which will serve as both a reward and a way to build a community.

Starbucks brings Web3 updates to its rewards program

However, employees of coffee shops still perceive the latest idea of ​​the company without much enthusiasm. For example, in May, during a survey of company employees, a man who identified himself only as “Mark” and described himself as a technologist expressed his disagreement with the company’s plans, citing the negative impact of NFT on the environment. He also stressed that NFTs are more exclusive than inclusive.

Whether customers, employees or investors will embrace this latest Web3 initiative remains to be seen. But Schultz is positioning it as part of a larger transformation planned for his company.

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