Klarna, the payment platform, recently launched a feeless loyalty program to consumers in Germany, Australia, Sweeden, the United States, and the United Kingdom. The feeless loyalty program is named Vibe and it will be available in June. Klarna indicated that the loyalty program was created as a response to customer feedback, as many indicated they were looking for an ‘extra layer of rewards.’
The program dictates that each time a consumer makes a purchase using the Klarna app, they will receive one Vibe for each dollar they spend, as long as the purchase is paid off on time. Members of the program will also be able to access sales and different shopping experiences. A number of large brands have already entered the program through partnerships including Starbucks, Sephora, as well as Uber.
Feeless Loyalty Program Releases
Klarna's Vibe is a No-Fee Loyalty Program Launching in June
Trend Themes
1. Feeless Loyalty Programs - Disruptive innovation opportunity: Developing feeless loyalty programs that provide an extra layer of rewards based on customer feedback.
2. Mobile Payment Platforms - Disruptive innovation opportunity: Creating payment platforms with integrated feeless loyalty programs to enhance customer experience and incentivize spending.
3. Partnership Marketing - Disruptive innovation opportunity: Collaborating with large brands to create mutually beneficial feeless loyalty programs that attract and retain customers.
Industry Implications
1. Fintech - Disruptive innovation opportunity: Integrating feeless loyalty programs into fintech platforms to revolutionize the way people make payments and earn rewards.
2. Retail - Disruptive innovation opportunity: Implementing feeless loyalty programs in retail stores to increase customer loyalty and drive repeat purchases.
3. Hospitality - Disruptive innovation opportunity: Incorporating feeless loyalty programs into the hospitality industry to enhance customer experiences and encourage brand loyalty.