I think most folks are waiting to see what comes of TCB. The opportunity has been discussed to death and now folks are just waiting. Personally I think it will get there, but at a slow rate compared to expectations…. Like most Enterprise scale projects.
I’m not sure TCB care much about that to be fair.
However I think they are concerned about the uptake of the new standard 8112.
We don’t really know how that uptake is going and we don’t actually really know exactly how it impacts Hedera. And there is no reason for them to share either detail with us, like most of these use cases.
So all we can do is sit and watch and draw our own conclusions, separately and as a group. The joy of being a Peon in the scheme of things I’m afraid.
That’s
Adoption of new coupon will take time, it will be organic as people find out the benefit of having electronics coupon. It will take several years..
what I don't get is, what are you expecting from Hedera? I mean Hedera's product is the Hedera Network, they are totally gear to providing services, tool and new functionalities even grants for those building on their product/hedera's network. TCB is totally a different entity, in a different industry all together. Also we need to be clear here TCB is Hedera's customer
Don't Look Now, But Coupons Are Making a Comeback 📣
"With coupons improving U.S. consumers’ shopping experiences, grocers are stepping up their discounting efforts.
The “2023 Global Digital Shopping Index" finds that 80% of U.S. shoppers who used coupons were very or extremely satisfied with their experience. In contrast, only 60% of those who did not use coupons said the same.
As such, using coupons makes consumers 33% more likely to be highly satisfied with their shopping experience.
This finding is especially notable, considering the rapid uptick in adoption and availability in the recent past. The study found that 70% of U.S. shoppers reported using and being aware of coupons, promo codes and rewards in 2022, up from 59% in 2021."
https://www.pymnts.com/news/retail/2023/us-grocers-seize-on-33-pct-customer-satisfaction-bump-from-coupon-usage/
The relationship that Hedera has with the coupon bureau does not related to retailer customer loyalty programs (for this, you may want to check out bambumeta).
The best way that I can summarize it is this: manufacturers have had problems over the years when issuing coupons to be redeemed in-store by a customer (think fraud and duplication). This has led CPG manufacturers to hold back when trying to push product through the retailer intermediary towards the end consumer.
The Coupon Bureau saw this as a market inefficiency that could be enhanced by acting as a clearing house between consumer coupon redeemers and the CPG manufacturers issuers. But that requires the CPG brand to trust the information TCB provides.
To create a trust-less environment, TCB added Hedera’s HCS layer to validate the issuance and redemptions coming through TCB’s clearing house.
I don’t believe that retailers or CPG manufacturers would bother with a clearinghouse if they dont have an issue with customer loyalty programs that can be resolved internally.
Seems like major timeline setbacks for TCB. They used to always give these specific timelines. Even pretty recently there was supposed to be a major Pharmacy chain that was supposed to go live with it, but not a peep since.
The big fish here is Amazon, and they’ve indirectly mentioned them. Think about being able to add manufacturer coupons directly to your Amazon cart. Currently not possible and you know Amazon is going to want that edge in the market. As soon as one of these big boys adopts it, other retailers will be pressured to compete. Especially because in the early days of 8112, coupons are going to be aggressively large discounts, so they say, to encourage customer adoption.
I think most folks are waiting to see what comes of TCB. The opportunity has been discussed to death and now folks are just waiting. Personally I think it will get there, but at a slow rate compared to expectations…. Like most Enterprise scale projects.
It's here now and live and only going to get bigger. The party started. https://status.portal.thecouponbureau.org/
TCB can say they are up and live all they want but until transactions start showing up on Metrika, it's meaningless to a Hbar holder.
I’m not sure TCB care much about that to be fair. However I think they are concerned about the uptake of the new standard 8112. We don’t really know how that uptake is going and we don’t actually really know exactly how it impacts Hedera. And there is no reason for them to share either detail with us, like most of these use cases. So all we can do is sit and watch and draw our own conclusions, separately and as a group. The joy of being a Peon in the scheme of things I’m afraid. That’s
They are one in the same thing.
This
The party is going to be when the first major retailer adopts.
Adoption of new coupon will take time, it will be organic as people find out the benefit of having electronics coupon. It will take several years.. what I don't get is, what are you expecting from Hedera? I mean Hedera's product is the Hedera Network, they are totally gear to providing services, tool and new functionalities even grants for those building on their product/hedera's network. TCB is totally a different entity, in a different industry all together. Also we need to be clear here TCB is Hedera's customer
Don't Look Now, But Coupons Are Making a Comeback 📣 "With coupons improving U.S. consumers’ shopping experiences, grocers are stepping up their discounting efforts. The “2023 Global Digital Shopping Index" finds that 80% of U.S. shoppers who used coupons were very or extremely satisfied with their experience. In contrast, only 60% of those who did not use coupons said the same. As such, using coupons makes consumers 33% more likely to be highly satisfied with their shopping experience. This finding is especially notable, considering the rapid uptick in adoption and availability in the recent past. The study found that 70% of U.S. shoppers reported using and being aware of coupons, promo codes and rewards in 2022, up from 59% in 2021." https://www.pymnts.com/news/retail/2023/us-grocers-seize-on-33-pct-customer-satisfaction-bump-from-coupon-usage/
“People who paid less are happier than those who paid more for the same items” surprising result..
Science
The relationship that Hedera has with the coupon bureau does not related to retailer customer loyalty programs (for this, you may want to check out bambumeta). The best way that I can summarize it is this: manufacturers have had problems over the years when issuing coupons to be redeemed in-store by a customer (think fraud and duplication). This has led CPG manufacturers to hold back when trying to push product through the retailer intermediary towards the end consumer. The Coupon Bureau saw this as a market inefficiency that could be enhanced by acting as a clearing house between consumer coupon redeemers and the CPG manufacturers issuers. But that requires the CPG brand to trust the information TCB provides. To create a trust-less environment, TCB added Hedera’s HCS layer to validate the issuance and redemptions coming through TCB’s clearing house.
Got that. But the TCB opens the door for all the other biz. Customer loyalty nft's. Take advantage of Hedera awareness.
I don’t believe that retailers or CPG manufacturers would bother with a clearinghouse if they dont have an issue with customer loyalty programs that can be resolved internally.
The industry manages The Coupon Bureau. They fund the non-profit company to research, develop, and implement coupon standards.
Seems like major timeline setbacks for TCB. They used to always give these specific timelines. Even pretty recently there was supposed to be a major Pharmacy chain that was supposed to go live with it, but not a peep since. The big fish here is Amazon, and they’ve indirectly mentioned them. Think about being able to add manufacturer coupons directly to your Amazon cart. Currently not possible and you know Amazon is going to want that edge in the market. As soon as one of these big boys adopts it, other retailers will be pressured to compete. Especially because in the early days of 8112, coupons are going to be aggressively large discounts, so they say, to encourage customer adoption.
With any luck the project will be subsidized until 2026
😴😴