These days, most people have signed up at least more than three customer loyalty programs. However, these flooding loyalty programs may be a nuisance to some customers. In the case of products with low purchasing frequency, it takes too much time to gather enough amount of points to use for customers to actually feel its utility. Even if a customer collects a considerable amount of points, the points may get expired before the customer finds somewhere to use the point. What if the customer can earn some point by buying the product A, earn some more by using service B or purchasing another product C, and use them altogether?
Managing every single warranty document is a hassle for users. Companies that issue product warranties often spend more money on processing and managing product guarantees than actually providing repair service. It takes a lot of time and effort to detect fraudulent claims, identify counterfeit products, and determine the scope of warranty coverage. Besides, companies need to manage various participants, including vendors and sales channels, throughout the warranty management process. Product warranty on blockchain can be an innovative solution. It is much more transparent and reliable when information about the product during the entire lifecycle is written on the blockchain. Businesses can prevent fraudulent claims in a faster, simpler, and more proactive way while drastically reducing costs. Besides, it’s easy to figure out what’s going on with the warranty on the products sold, and what’s causing the problem. Customers will experience more satisfactory service without the risk of losing warranty documents. Also, customers can sell used products with the appreciated value from the remaining warranty period.