Laszlo Sajtos

So usually data is shared with them.

Data might be shared with maybe advertisers and social media platforms.

You know, companies are realizing that the data is very valuable and these data sets, they have a tremendous amount of value, especially, you know, if these loyalty programs are, you know, cover a huge proportion of the population and very frequently, I guess, consume products.

I guess that really elevates the value of the program and this elevates the value of your data as well.

You know, this is a really interesting research that we did many, many, many years ago.

And, you know, it has been documented for many years how many different benefits loyalty programs can bring to companies.

I mentioned some of these earlier, like, you know, upselling, cross-selling, selling more.

which, you know, obviously not always necessarily a good thing from a consumer's point of view.

So, you know, talking about overconsumption.

From the customer side, we actually looked at this interesting issue, which again, like I haven't seen anybody really looking at that.

If you actually, because the fundamental idea is that it's a relationship management.

So we are in a relationship.

It's not just a purely transaction.

We move beyond that, right?

And the main idea is that if I really trust this brand with my purchases,

Can I get something back?

So what am I getting back beyond this personalization, right?

So if you're running a loyalty program, do your rewards that you're offering to consumers actually provide me with actual benefits?

So we did this research and looked at whether loyalty programs that allow you to redeem products on particular items.

So what happens?