Why Shrew is heading towards the stratosphere in the world of retail loyalty and beyond!

What is Shrew and what’s all the fuss about?

Shrew stands for Shopping Rewards and it does exactly what it says on the tin! Shrew utilises the blockchain to provide seamless transactions that reduces costs associated with running a loyalty scheme. The current loyalty schemes often tie down customers to one particular shop and their brands. Despite being a multibillion-dollar industry, the rewards schemes seem to be stuck in the yesteryear of technological advancement. This is where Shrew comes in!

Shrew provides unrivalled data security and protection

We have all heard of common horror stories of big corporations handling data poorly and security breaches. It isn’t surprising that customers are left feeling increasingly concerned with how personal data is being used and shared.

Shrew utilises the blockchain and its decentralised construct to make data less vulnerable to malicious activity such as hacking as one particular person will never have complete control over the whole chain of information.

The ‘crypto’ in cryptocurrency comes from the fact that transactions on a blockchain are cryptographically secure. Once a transaction occurs on the blockchain it becomes timestamped & cannot be changed or reversed. This feature saves retailers millions of dollars of lost revenue each year due to fraud and manipulation of transactions. This means that both retailers and consumers can feel secure when gaining rewards points in a retail store or in any digital space. By applying blockchain technology to rewards points, we are paving the way for a more economical and efficient process. Shrew offers the benefit of reduced overheads in maintaining a reward scheme which breaks down the barriers of entry for smaller retailers and reduces costs for the more established chains.

Rewarding and Flexible

Traditional rewards programmes are restrictive, giving consumers a time limit to redeem points.

Due to a large number of reward schemes and club cards, it is not surprising then that many rewards points go unclaimed as consumers lose sight of their points, loyalty cards and even the reason why they strived to obtain them in the first place!

Shrew serves to address these pitfalls by giving consumers complete ownership of their SHREW points by storing them in a single, easily accessible digital wallet. SHREW points are timeless with no expiry just like a dollar bill that doesn’t magically disintegrate in your hand at a given date.

Flexibility in where you can spend your rewards is also a major pain point for the consumer since they are limited to 1 or 2 stores where they can only buy an apple as opposed to say…an Apple Mac!

Through a decentralised tech solution, we’re using blockchain to centralise rewards points allowing small locally run cafes to access the same loyalty programme as a global hotel chain.

Now consumers can spend whenever and wherever they please whilst retailers that are part of the ecosystem reap the benefits of happy spending customers. This ultimately goes hand in glove with Shrew’s vision for retailers to form an alliance, allowing consumers to redeem points at any participating member store that signs up to the Shrew ecosystem. Such coalition model encourages more activity, improved data analytics as the merchants at one store can see how customers are spending their points with other brands. What more could you ask for from a pioneering loyalty token that is Shrew!

Author at Cryptotech