Companies routinely roll out new loyalty programs with much fanfare but arouse little to no excitement from investors, at least until they can show some returns. Now one Hooters franchisee has shown how to change this: just use these magic words: bitcoin, crypto and blockchain.
Chanticleer Holdings Inc. (NASDAQ:BURG) is the owner of several fast food restaurant brands including nine Hooters joints as well as a minority investor in Hooters of America. The company’s stock price jumped by 50% on Tuesday after it announced plans to use Mobivitymind, a “blockchain-architected platform” to create a cryptocurrency customer loyalty and rewards program.
“We wanted to expand our existing loyalty program with something that really changes the way our customers can leverage their rewards; Mobivity Merit is real cryptocurrency, leveraging the same infrastructure and principles of bitcoin, ethereum, ripple, litecoin, and more, and will enable our customers to make use of their rewards in entirely new ways,” said Michael D. Pruitt, Chairman, President and CEO of Chanticleer Holdings.
Mobivity and Chanticleer only plan to begin the deployment of this new program beginning in about six months. They expect it to be deployed across all their brands by the end Read More Here