August 09, 2022<\/p>\n\n\n\n
By Anjali Kochhar<\/p>\n\n\n\n
Global coffee house Starbucks has plans of introducing a Web 3-enabled initiative to its popular reward program, the company CEO said.<\/p>\n\n\n\n
Speaking during the company\u2019s Q3 2022 earnings call last week, Starbucks CEO Howard Schultz said, \u201cWe have been working on a very exciting new digital initiative that builds on our existing industry-leading digital platform in innovative new ways, all centred around coffee and\u2014most importantly\u2014loyalty.\u201d<\/p>\n\n\n\n
The company will unveil the new digital initiative on Sept. 13, during its annual Investor Day event in Seattle, according to Schultz.<\/p>\n\n\n\n
Further, he said, \u201cWe believe this new digital Web 3-enabled initiative will allow us to build on the current Starbucks Rewards engagement model with its powerful spend-to-earn Stars approach while also introducing new methods of emotionally engaging customers, expanding our digital third place community and offering a broader set of rewards, including one-of-a-kind experiences that you can’t get anywhere else, integrating our digital Starbucks Rewards ecosystem with Starbucks-branded digital collectables as both a reward and a community building element.\u201d<\/p>\n\n\n\n
\u201cThis will create an entirely new set of digital network effects that will attract new customers and be accretive to existing customers in our core retail stores,\u201d he added.<\/p>\n\n\n\n
Starbucks first got into blockchain waters more than four years ago with a “bean-to-cup” traceability project to support smallholder farmers.<\/p>\n\n\n\n
Whether customers, employees, or investors will embrace this latest Web3 initiative has yet to be seen. But Schultz positions it as part of a larger transformation planned for the corporate giant.<\/p>\n\n\n\n
\u201cWe are looking forward to fully showcasing the power and the opportunity of our reinvention plan,\u201d he said.<\/p>\n\n\n\n
About the author<\/strong><\/strong><\/p>\n\n\n\n Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.<\/p>\n","protected":false},"excerpt":{"rendered":" August 09, 2022 By Anjali Kochhar Global coffee house Starbucks has plans of introducing a Web 3-enabled initiative to its popular reward program, the company CEO said. Speaking during the […]<\/p>\n","protected":false},"author":2,"featured_media":1542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1540"}],"collection":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/comments?post=1540"}],"version-history":[{"count":1,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1540\/revisions"}],"predecessor-version":[{"id":1541,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/posts\/1540\/revisions\/1541"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media\/1542"}],"wp:attachment":[{"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/media?parent=1540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/categories?post=1540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nftmetta.com\/wp-json\/wp\/v2\/tags?post=1540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}