Lolli to Introduce Bitcoin to Hundreds of Thousands of New Users via Online Shopping
As of November 24th, 2020, it’s been confirmed by Forbes that Lolli’s consumer-base is in for a treat as the online rewards platform has created a system where customers get a percentage of their online purchases. These returns are made in Bitcoins in a bid to increase the use of digital assets as well as to further incentivize people to do online shopping.
Reward per Purchase
Lolli, an online rewards app, is one of the many companies that has taken advantage of this trend. The system allows its customers to earn Bitcoin as they make purchases on the web.
Due to the recent pandemic, the consumer world has begun to shift its focus from brick-and-mortar retail to online shopping. Online shopping has managed to thrive, considering its customer-centered policies regardless of economic restrictions. In fact, Salesforce Inc. found in a recent study that 58% of consumers are expected to shop online for their needs more than they did before the pandemic. This is to be expected as online shopping has proved to be more efficient and safe.
“Shopping online and earning bitcoin are contactless. This is even more important right now because it means you can still buy your presents, get rewarded, and stay safe from the comfort of your home,” said Matt Senter, CTO & Co-Founder of Lolli.
And because of Bitcoin’s popularity, Lolli created a system that helps customers earn digital currency while shopping. Unlike a cash-back or loyalty point reward system, the consumer’s wallet is directly reimbursed with Bitcoin whenever a transaction with Lolli’s partner merchants is completed online.
BTCManager had reported last February that 950 merchants were affiliated with Lolli, which has since grown to over a thousand including reputable brands like Nike and Bloomingdale. The average payback reward (in Bitcoin) is around 7.5% of the price of the product. This initiative has introduced thousands of people to the world of Bitcoin, which CEO Alex Adelman believes to be the “currency of the future”.
“Bitcoin is the first scarce digital asset that gives people complete control over their money.”
All things considered, Lolli just gave their customers, a way to accumulate Bitcoin while doing what they intended to do anyway, which is shopping online. From March till date, Bitcoin has risen over 300% in worth and has caught the attention of mainstream media in recent weeks. And with Lolli’s hundreds of thousands of users, more newcomers are bound to be introduced to Bitcoin.