Near Protocol Unveils Customer Loyalty Program For Latin American Processed Foods Giant

Near Protocol Unveils Customer Loyalty Program For Latin American Processed Foods Giant

Near Foundation has partnered with Colombian processed foods brand Grupo Nutresa to launch its customer loyalty rewards program on the blockchain. The tokenized platform powered by NEAR Protocol will begin development early next year.

Near Foundation, a Switzerland-based non-profit organization that manages the carbon-neutral Layer-1 blockchain NEAR Protocol, has entered into a strategic partnership with Colombia’s largest food processing company, Grupo Nutresa, to build one of the first open-source loyalty rewards platforms on the blockchain. The system aims to reach out to a million customers of the brand in Colombia and across other countries in the Latin American region who use its various loyalty rewards programs.

Customer incentive programs have always been a top priority for the world’s top brands to reward customers for their support and encourage them to return to avail of products or services. The system also acts as an analytics tool for the companies, giving them insight into the behavioral and preferential patterns of different customers. In a recent survey conducted among shoppers by loyalty experience solutions provider Annex Cloud, 87% answered that they wanted brands to implement loyalty programs, and over 70% of customers answered that they are more likely to recommend a brand with a loyalty program than otherwise. 

Near Protocol Unveils Customer Loyalty Program For Latin American Processed Foods Giant

Grupo Nutresa already manages several loyalty rewards programs for its customers, collaborators and providers in Colombia. NEAR Protocol will work together with Spanish tech company Peersyst Technology to launch an all-in-one platform that will onboard the Colombia-based multinational food brand’s existing customer rewards program on NEAR’s proof-of-stake (PoS) ecosystem. The new platform will eliminate the need for customers to maintain multiple accounts and log-ins for multiple programs, and instead just use their NEAR Wallet to connect and operate all the accounts in one go. The blockchain-based platform will give customers wider access to the program’s rewards system and also allow them to have more control over their loyalty tokens.

“We are excited to partner with one of the biggest multinationals in Latin America and help it to lead the way through its first Web3 loyalty programme. Leveraging NEAR’s first-rate technology, the partnership will redefine what is possible when combining retail with latest blockchain innovation, not just in Latin America but throughout the rest of the world,” said NEAR Foundation CEO Marieke Flament. 

Both companies have not given any financial details regarding the partnership. The platform will begin development in the first quarter of 2023. 

“Our purpose is to make people feel recognized and valued by brands. Above all, what interests us most is that this is an opportunity to help build their dreams, through a service that provides them with significant redemption options and value… We see in NEAR an important ally for developing and implementing Grupo Nutresa’s loyalty strategy,” said Fabian Andres Restrepo, Digital Transformation Leader at Grupo Nutresa. 

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Grupo Nutresa’s effective implementation of social, environmental and economic practices voted it as the most sustainable food products company in the world for two consecutive years in the 2021 Dow Jones Sustainability Indices (DJSI). 

At the time of writing, NEAR token is trading at $1.71, down by 0.6% in the last 24-hours. With over 830 million tokens currently in circulation, NEAR Protocol has a total market valuation of $1.4 billion.

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