The effect of tokenized rewards on customer loyalty programs

【Author】 Boukis, Achilleas

【Source】ANNALS OF TOURISM RESEARCH

【影响因子】12.853

【Abstract】This work investigates customer responses to the tokenization of hotel loyalty programs. Drawing on self-enhancement theory, Study 1 investigates the effect of reward type (i.e. control vs tokenized reward) on customers' perceptions of the reward (i.e. economic value, program attractiveness) and their behavioral intentions towards the hotel (i.e. switching intentions, recommendation intentions). Findings highlight reward novelty and psychological ownership as two mediators of the above relationships. Study 2 replicates these effects in a cryptocurrency owner context. Study 3 examines the effect of the hotel's type (i.e. luxury vs budget) on the reward type-customer responses relationship. We showcase that tokenized rewards generate a more favourable attitude towards loyalty programs and that they remain an effective customer acquisition strategy for high-end hotels. (c) 2024 The Author(s). Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).

【Keywords】Tokenized rewards; Psychological ownership; Reward novelty; Loyalty program; Non-Fungible Tokens

【发表时间】2024 NOV

【收录时间】2024-10-31

【文献类型】案例研究

【主题类别】

区块链治理-市场治理-代币经济学