Consumers May Win Prizes In-Store and Online with Luckycycle
Laura McQuarrie — April 12, 2017 — Business
References: luckycycle & nfcworld
While many companies are focused on improving checkout systems by efficiency or diversifying accepted payment types, Belgian start-up Luckycycle is now giving consumers the chance to win prizes at the point of sale.
Whether in-store or online, merchant payment platforms that make use of technology from Luckycycle will be able to offer consumers games such as scratch cards or slots. By playing these games, consumers may even be eligible to win their entire basket for free.
As Ingenico ePayments, which uses Luckycycle's technology, says: "This means that, instead of offering 10% discounts on an item or basket, merchants can offer a one in 10 chance to win that item or basket for free." Implementing this technology at payment terminals has the potential to boost customer loyalty and potentially even increase the number of products a shopper adds to their basket.
Whether in-store or online, merchant payment platforms that make use of technology from Luckycycle will be able to offer consumers games such as scratch cards or slots. By playing these games, consumers may even be eligible to win their entire basket for free.
As Ingenico ePayments, which uses Luckycycle's technology, says: "This means that, instead of offering 10% discounts on an item or basket, merchants can offer a one in 10 chance to win that item or basket for free." Implementing this technology at payment terminals has the potential to boost customer loyalty and potentially even increase the number of products a shopper adds to their basket.
Trend Themes
1. Gamified Checkout Systems - Disruptive innovation opportunity: Enhance customer engagement and loyalty by incorporating gamification into checkout systems, offering consumers the chance to win prizes at the point of sale.
2. Prize-based Incentives - Disruptive innovation opportunity: Attract customers and increase sales by implementing prize-based incentives such as scratch cards or slots, where consumers have a chance to win their entire basket for free.
3. Digital Payment Technologies - Disruptive innovation opportunity: Integrate Luckycycle's technology into digital payment platforms to offer games and prizes, providing a unique and engaging shopping experience for online consumers.
Industry Implications
1. Retail - Disruptive innovation opportunity: Retailers can leverage gamified checkout systems to drive in-store foot traffic, enhance customer satisfaction, and differentiate themselves from competitors.
2. E-commerce - Disruptive innovation opportunity: E-commerce platforms can implement Luckycycle's technology to create interactive and immersive shopping experiences, attracting and retaining online shoppers.
3. Payment Solutions - Disruptive innovation opportunity: Payment solution providers can integrate Luckycycle's technology into their offerings to add value for merchants and enhance customer engagement through prize-based incentives.
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