At Gabrotech, we have a vision to disrupt the loyalty rewards market and hand back the control of rewards rules to the public. Our open-loop decentralized ecosystem, Gabro, aims to provide consumers with the ability to instantly redeem and manage multiple loyalty points, and exchange them freely on a single blockchain enabled platform.
The total value of the loyalty rewards program market is estimated to be at a staggering US$500 billion. While an average household has enrolled to an average of 25 programs, the actual utilisation of these reward points vary from 10%to 80%, depending on sector. Surveys show that 78% of customers are generally not happy with their loyalty programs. In addition, Loyalty Program Operators (LPO) make it hard for customers to redeem points as many LPOs think that expired points becomes a form of profit to them. Thispresents a huge gap in which we want toaddress.