Bakkt Study Examines Digital Asset Loyalty and Rewards Preferences Among US Consumers | News

0

ALPHARETTA, Ga.–(BUSINESS WIRE)–February 16, 2022–

Bakkt Holdings, Inc. (NYSE: BKKT), a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets, today released the results of its “Bakkt Loyalty and Rewards 2022 Outlook Study” of 1,000 US. consumers who are members of three or more loyalty programs. It revealed the evolving nature of crypto preferences in the loyalty and rewards landscape and identified aspects that attract and influence behaviors and demands.

Earning Cash Back has long been the top choice of the average American consumer. However, the study results signal a new challenger. The growing ubiquity of cryptocurrency is changing consumer behavior as 72% of those who have purchased crypto at least once in the past six months are likely to redeem loyalty points for crypto. cash. Additionally, about half of crypto buyers are interested in earning cryptocurrency instead of points. The ability to earn crypto as rewards for daily spending quickly rises to the level of preference of earning cash instead of points. It is evident based on the results of the study that consumers’ perceptions of crypto rewards are favorably influenced by their relationship to cryptocurrency, with those who said they have purchased crypto seeing great appeal for crypto rewards. Additionally, income level has proven to be a driver of interest in crypto, even for those who have yet to purchase it, with 58% of consumers with an income above $100,000 saying they are likely to redeem points for cryptocurrency.

“We are seeing in real time the importance of cryptocurrency in transforming the customer experience, including an increase in demand for more flexible options such as redeeming points for cryptocurrency or the ability to earn optional cryptocurrency,” said Bakkt Chief Product Officer of Loyalty. & Awards, Nancy Gordon. “The ecosystem is growing rapidly, and brands can be at the forefront of loyalty innovation by introducing crypto rewards that deliver the richest experiences consumers crave.”

Main national results

  • Dots on Dots on Dots: Crypto buyers and those with incomes over $100,000 are more likely to use loyalty programs in major categories, over-indexing the average US consumer in hospitality, gas, travel and finance. Crypto buyers and those with income over $100,000 are more likely to report greater loyalty enrollment in 10 or more programs.
  • The Crypto Appeal: For the 43% of US consumers who trade crypto, the main reason they trade cryptocurrency is for the potential for long-term returns, and 35% view it as a quick way to make money at home. short and medium term. Yet, an emerging and large population of crypto buyers (51%) also sees the value of earning cryptocurrency in addition to loyalty points.
  • The Crypto-Pro: Over 64% of the cryptocurrency buying group of respondents are more familiar with converting and managing loyalty points than the average US consumer, with male respondents in this group having over 60% knowledge and female respondents having more than 60% knowledge. 46% knowledge. Respondents who buy crypto cite multiple redemption options, unlocking special loyalty statuses by reaching milestones in multiple programs and earning cryptocurrency instead of points based on their primary loyalty program needs.
  • The Crypto-Education Gap: Among consumers who said they were not likely to redeem points for crypto, 44% responded that the biggest barrier to exchanging cryptocurrency is understanding what can be purchased with crypto. Financial literacy and consumer understanding is the divide that separates consumers from trading cryptocurrency and harnessing new ways to monetize and spend digital assets.

About the study

Commissioned by Bakkt and conducted via an online survey tool, the study surveyed 1,000 consumers across the United States and was conducted in December 2021, providing insight into how individuals interact, trade and accumulate loyalty points, as well as looking at the prospects consumers want for the future. Of the industry. Participants were selected for their membership in at least 3 or more loyalty programs.

To learn more about this research, please click here.

To download the Bakkt app, visit the AppStore® and Google Play Store™.

About Bakkt:

Bakkt is a trusted digital asset platform that enables consumers to buy, sell, store and spend digital assets. Bakkt’s platform, now available through the Bakkt app and for partners, amplifies consumer spending and strengthens loyalty programs, adding value to all key stakeholders in the payments and asset ecosystem Bakkt digital. Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For more information visit: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/

Bakkt-C

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220216005546/en/

CONTACT: Bakkt Media Contacts

Lauren Post, Vice President – Communications

[email protected]

KEYWORD: GEORGIA UNITED STATES NORTH AMERICA

SECTOR KEYWORD: RETAIL OTHER COMMUNICATIONS TECHNOLOGY PUBLIC RELATIONS/INVESTOR RELATIONS FINANCE MARKETING BANKING COMMUNICATIONS OTHER CONSUMER PROFESSIONAL SERVICES WOMEN ONLINE RETAIL MEN OTHER TECHNOLOGY CONSUMER

SOURCE: Bakkt Holdings, Inc.

Copyright BusinessWire 2022.

PUBLISHED: 02/16/2022 08:15 / DISK: 02/16/2022 08:17

http://www.businesswire.com/news/home/20220216005546/en

Copyright BusinessWire 2022.

Share.

About Author

Comments are closed.