Momentum Labs signs a memorandum of understanding (MOU) with ZooCenter TLV on 5th May 2021. Both parties have reached an agreement to work together and bring blockchain technology and artificial intelligence-enabled loyalty platform to their customers.
Before the COVID-19 outbreak, the retail industry has its fair share of challenges. The retailers are understanding to new ways consumers are shopping and what makes them brand loyal to survive. Based on a McKinsey report, more than 75% of consumers have tried new brands, places to shop, or shopping methods so far during the pandemic. The report remarks, “With continued pressure on household income, consumers are trying new brands and channels, seeking both better value and convenience.”
Loyalty and engagement platforms that work is more important than ever. They provide retailers with the consumer insight to drive critical business decisions, gain a competitive edge, and ultimately win and retain loyal customers in this difficult economy. Momentum Labs who is the pioneer in this field and with proven results managed to sign on another customer.
ZooCenter TLV has the largest range of pet products in Israel. They have something for every type of pet in almost any size. Their product ranges from quality low-cost pet food, treats, beauty products and accessories to super-premium products.
Idan Blum who owns ZooCenter said: "I see this opportunity to integrate with Momentum Labs as my top priority. It was a very easy decision for me to take after I first saw the demo of the platform generating insights that could make my customers happier and increase my revenue. This is a win-win for us."
The cooperation between Momentum and ZooCenter is synergetic as most of the revenue is generated from returning and price opportunistic customers. The main focus of the cooperation will revolve around the creation of a loyalty program over a secure blockchain, customer retention engagement workflows and churn prevention.
"We are very happy to cooperate with Idan and ZooCenter TLV as we know that our offering will, without a doubt make a positive impact on the happiness of Idan’s customers which will in turn increase their happiness and CLV (customer lifetime value) and Idan’s bottom line." Itay Kasre, CEO of Momentum Labs added.
Customer loyalty and repeat customers are the foundation of healthy, thriving businesses everywhere, this is especially so in this COVID-19 period.
Momentum Labs is a one-of-a-kind cognitive platform for loyalty programs implemented over a blockchain infrastructure. The platform harnesses the power of AI (Artificial Intelligence) to help businesses better understand customer behaviour, predict churn before it happens, and prevent it. Momentum Labs is set to revolutionize the world of retention marketing and customer loyalty. redefining the way companies build programs and manage relationships with their customers.