Starbucks's web3 Odyssey is seeing early signs of success, BofA says
Starbucks's Odyssey program, an extension of Starbucks Rewards that seeks to expand brand loyalty in the virtual world, is seeing encouraging signs of early success, Bank of America said. The coffee company, which launched a beta test of Odyssey in December.
Odyssey affords the ability to evolve loyalty beyond its transactional origins," a team of analysts led by Sara Senatore wrote in a Feb. 28 note. "Just as members can earn Odyssey Points by completing interactive journeys (in addition to purchasing beverages), they can also redeem them for interactive experiences, including access to exclusive events and int’l trips. Starbucks's approach to web3 is "more holistic than the industry’s prior NFT forays," the analysts said. Odyssey appears to be bringing new members into the Starbucks Reward fold.
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