Plenti by American Express Lets You Use Points from One Place at Another
Laura McQuarrie — May 12, 2015 — Business
References: itunes.apple & businesswire
Now that there are many consumers looking to cut down on unnecessary bulk in their wallets, digital loyalty and reward platforms are easy to come across in app stores—but Plenti does things a little differently than the rest. This app by American Express operates under a whole new concept: you can accumulate points at one place and put them towards another, without needing a single physical card.
By shopping with Plenti partners like AT&T, Hulu, Direct Energy and Macy's, it's possible to get $10 off at any of these stores when 1,000 Plenti points are earned. As well as making it instantly gratifying to collect and redeem points, this unconventional rewards program means that you don't have to be consistently loyal to a certain retailer in order to earn discounts.
By shopping with Plenti partners like AT&T, Hulu, Direct Energy and Macy's, it's possible to get $10 off at any of these stores when 1,000 Plenti points are earned. As well as making it instantly gratifying to collect and redeem points, this unconventional rewards program means that you don't have to be consistently loyal to a certain retailer in order to earn discounts.
Trend Themes
1. Digital Loyalty Platforms - Disruptive innovation opportunity: Develop a digital loyalty platform that allows users to accumulate and redeem points across multiple retailers without the need for physical cards.
2. Cross-partner Rewards Programs - Disruptive innovation opportunity: Create a rewards program that enables customers to earn points with one partner and redeem them with another partner, promoting loyalty across multiple businesses.
3. Bulk Wallet Reduction - Disruptive innovation opportunity: Design a solution that helps consumers consolidate their loyalty and rewards programs into a single digital platform, reducing the need for physical cards.
Industry Implications
1. Mobile Payment Solutions - Disruptive innovation opportunity: Develop mobile payment solutions that integrate with loyalty platforms, allowing seamless point accumulation and redemption.
2. Retail and E-commerce - Disruptive innovation opportunity: Create innovative loyalty and rewards programs for retailers and e-commerce platforms that offer cross-partner benefits.
3. Financial Services - Disruptive innovation opportunity: Explore partnerships with financial service providers to integrate loyalty platforms and enhance customer benefits across various industry sectors.
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