2. MARKET TREND
According to a report by MarketWatch, an economic publication, the size of global market for application-based reward points was approximately $3.2 billion in 2022 and is expected to grow to approximately $5.7 billion by 2031.
This analysis is gaining popularity with the launch of platforms that users can benefit in various ways, such as P2E, L2E, and M2E, which are gaining new attention in the current consumer market, where consumption is reduced and reasonable consumption is established in line with inflation in the global market.
Users are also gradually increasing by using these platforms to earn points or discounts in simple ways, such as purchasing living necessities and scanning receipts.
Users are increasingly utilizing these platforms to earn points or discounts by simply scanning their receipts after purchasing daily necessities.
Fetch, one of the most popular applications in the global market, is popular in that they can be exchanged for gift certificates or donations from popular stores such as Starbucks by accumulating points by scanning and uploading receipts using shopping malls, restaurants and gas stations.
In addition, users of the platform are gradually increasing with the concept of earning money by earning additional reward- points through activities such as purchasing certain brands linked to the platform and recommending friends.
The Upside platform can receive reward points by leveraging affiliates that include more than 50,000 gas stations, grocery stores, and restaurants across the United States. Because this is an inevitable expense for gas purchases in the United States, where cars are the main means of transportation, this provides price information per gallon of the affiliated gas station and affiliate location around your location and then uploading a photo of the receipt makes it easier to earn reward points.
In addition, the new term AppTech has emerged in the global consumer market. AppTech is highly praised because it has the advantage of using spare time to participate in the survey, play simple quiz games to earn points, and receive reward points through daily activities such as learning, exercise, and food purchases.
With these factors, AppTech has shown steady growth in the past, and the reward-point platform has evolved and is expanding its business.
The reward point platform market is expected to show gradual progress, coupled with consumers' desire to enter the market amid the long-term economic downturn and companies' desire to attract customers.
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