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| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | Blockchain-based Loyalty Programs in the Travel Industry |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Date | 2022 |
| Abstract Text | The motivation of the thesis is to find an incentive for customers to directly book with a destination instead of going through intermediaries, such as Booking.com, which demands high commissions. Loyalty programs can be such an incentive. However, they face numerous problems, such as having low customer engagement and not acquiring enough customers to increase sales, the main goal of a loyalty program. A decentralized loyalty program is a solution to that problem. Such a program has one application provider, includes multiple partners from which customers receive rewards, and is based on Blockchain Technology. The main question that is answered during the thesis is if such a decentralized loyalty program increases customer acquisitions and engagement such that it can lead to more sales and solve the mentioned problem. To answer that question, a prototype was implemented and evaluated in the context of a specific use case. Two semi-structured interviews with experts were conducted. The evaluation met the expectation, that a decentralized loyalty program (1) acquires more customers and (2) increases customer engagement in the context of the use case. Different aspects and advantages were identified, among other things, a more efficient on-boarding, valuable rewards, and transparent conditions which bring value to all participating parties in the use case. By inducing this design knowledge, a design theory is created. Six requirements define the context in which Blockchain Technology should be utilized for a loyalty program, to increase sales by increasing acquisitions and engagement. At this point, it has to be emphasized, that the theory considers the partner's profitability but neglects the application provider's, as the theory assumes a provider to be present. Nonetheless, the thesis proves, that a decentralized loyalty program acquires more customers, leads to more customer engagement, and is, therefore, more profitable for a partner to join when comparing it to ordinary loyalty programs. |
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