SK Planet Japan aims to capitalise on bukagai using GATCOIN’s blockchain driven, branded loyalty points program and targeted mobile branding.
The bakugai are coming and SK Planet Japan (SKPJ) is planning to bring them into their scores of thousands of stores across Japan, using technology from GATCOIN. Branded, blockchain driven loyalty programs will be married to highly specific mobile marketing campaigns in point giveaways to drive customer acquisition.
“This could possibly be one of the biggest marketing innovations since the invention of points,” says Steve Lee, the CEO of SK Planet Japan (a subsidiary of the Korean telecoms and consumer services giant SK Telecom).
Mr Lee is keen to compete for the Chinese tourist dollar. Bakugai, literally ‘explosive buying’, is the Japanese term for the phenomena of Chinese tourist spending. And it’s big.
“Chinese tourism is booming, with over 24 million arrivals to Japan in 2016. Bakugai, the Japanese word for Chinese ‘explosive buying’, hit over $13 billion USD last year,” says Mr Lee. “We have an extensive network of retail stores, and getting them to spend is a strategic priority.”
GATCOIN is in the process of creating a safe space version of cryptocurrencies for corporate users. Their proprietary technology will enable major retailers and others offering consumer goods and services to create their own loyalty programs that are blockchain driven and controlled by the company. The process will be run off of servers designed by GATCOIN specifically created for these types of transactions.
The points, once awarded, can be seen, collected, and even exchanged for other points through a single point of collection, a mobile app and online account. They can even be exchanged for other points or cash through the GATCOIN exchange.
Enter the stores
For the uninitiated, SK Planet Japan runs a wide range of branded retail outlets like Lawson’s, Japan’s third biggest convenience store by number of outlets. Competition is fierce and getting customers into stores is the first challenge. GATCOIN aims to work with SKPJ to implement A-Drop™, their new technology using blockchain driven, targeted mobile marketing.
Tourists will essentially be given points they can spend in stores in their immediate physical vicinity. They can share the news of the giveaway in a Pokemon-Go style sharing of information. Instead of collecting cutesy Japanese monsters, people will be collecting points they can spend or turn into money.
“It is very much like sending tourists a bit of spending money to encourage them to walk into SKPJ’s retail outlets,” Mr. Cheong adds.
Once they’re in and connected to the SKPJ, the system will act as a motivator not just to connect them to that store, but the whole range of SK Planet Japan brands. Mr Lee is excited about what the technology makes possible.
“Providing an unlimited variety of spending options, plus leveraging the liquidity of the crypto currency markets is an extremely powerful combination,” says Mr. Lee.
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