The 'Lynq app' is a rewards program focused on the hospitality industry at large. Rather than being bound to one restaurant or company, Lynq partners with restaurants and credit card networks to provide industry-wide benefits. Restaurants are not required to pay a registration fee or go through extensive processes in order to partner with Lynq. Rather, Lynq handles the logistics on its own.
Lynq was created in order to revive the hospitality industry in Canada, as dine-in restaurants were some of the hardest-hit establishments by the CoViD-19 pandemic. The application allows restaurant owners to monetize slow business days by providing incentives to dine-in customers at certain times. These incentives range from a standard 10% cashback to potential restaurant-specific rewards. Lynq users can view the offers section on the application to view a list of promotion dates, times, and details.
Redeeming rewards is a simple process, as diners can simply claim their rewards for cash through Interac e-transfer due to Lynq's partnership with credit card networks.
Dine-In Loyalty Apps
'Lynq' Provides Benefits to Consumers who Dine in Partnered Restaurants
Trend Themes
1. Hospitality Industry Rewards Programs - There is an opportunity to create rewards programs, similar to Lynq, for the hospitality industry to incentivize dine-in customers and help revive the industry.
2. Industry-wide Benefits Programs - Creating industry-wide benefits programs, like Lynq, can provide incentives to customers while also saving restaurant owners money on registration fees and logistics.
3. Mobile Apps for Dine-in Restaurants - Developing mobile apps for dine-in establishments can help generate customer loyalty and incentivize customers to visit during slow business days.
Industry Implications
1. Hospitality - The hospitality industry has an opportunity to create rewards programs, like Lynq, to incentivize customers to dine-in and boost business after the pandemic.
2. Credit Card Networks - Credit card networks can partner with mobile apps, like Lynq, to offer easy and convenient ways for customers to claim their rewards and incentivize them to use their cards.
3. Mobile App Development - Mobile app developers can create custom mobile apps for dine-in restaurants to help generate customer loyalty and incentivize customers to visit during slow business days.