Towards Transparency and Loyalty : Leveraging Blockchain NFTs in Hotel and Food Supply Chain

Abstract

Managing the Customers Engagement and Retention Rate is one of the major challenges faced by any organization having a complex Supply chain. Certain Technological Limitations and the variety of choices available to the consumer raises concern about the sustainability of the Hotel. Non-Fungible Token(NFT) Technology, an application of Blockchain technology emerges as feasible and promising solution. By using certain characteristic features of NFT Technology like the Traits and One-of-kind helps manage the Customer Engagement, alongside helping foster a healthy and engaging community. The NFT-based Loyalty Programs introduces incentives and rewards to the endconsumers based on their Loyalty and engagements with the Hotel. Consumers are motivated through Loyalty based programs in the form of NFTs which provides Transparency and security alongside Customer Retention. The alignment of the NFT-based Loyalty System with the Decentralized SCM promotes a high engagement rate and ensures transparency for the rewards being distributed to the end-consumers. Furthermore, hotels are able to provide distinctive experiences and benefits that are tailored to each individual customer thanks to the integration of NFT technology into loyalty programs. Hotels can automate the delivery of prizes based on predetermined criteria, including frequency of visits, total spending, or participation in promotional events, by utilizing smart contracts on the blockchain. In addition to making the entire customer experience more smooth and convenient, this also guarantees equity and openness in the awarding of rewards.