Coalition loyalty programs remain one of the massive sectors without much technological innovation.
In the United States alone loyalty programs are estimated at $30bn each year, with millennial coalition loyalty programs estimated at $6.8bn.
Drop’s millennial-targeting mobile loyalty app is aiming to shake things up. The company has partnered with innovative brands to provide its users with a simple way to earn reward points through purchases made with their existing credit and debit cards. As well as transactions, points can be earned by participating in contests and social sharing, before being redeemed on rewards tailored to each user’s needs, tastes and location. With the option to earn extra points by getting friends on board and the ability to see what they’ve won, Drop has created a socially-engaging platform disrupting the market.