Savory and sweet. It’s a winning combo, and PepsiCo saw the opportunity to embrace new buying patterns there. Their objective would have been to boost the number of individuals who purchased Pepsi with Frito-Lay snacks. Through a compelling mobile experience, customers would be rewarded for their loyalty and ongoing purchases. PepCoin was created there! Now let use see what exactly is Pepcoin by Pepsico and how does PepCoin works.
The PepCoin Approach:
The notion was brought to life using scanning technology based on OCR (optical character recognition). Customers can search products quickly since each SKU has a distinct identification across brands, such as Pepsi cap numbers or Frito-Lay bell marks.
Hathway and PepsiCo partnered to design the whole user experience, from the first sign-up to recognizing purchases, merging Frito-Lay and Pepsi items, assigning points, and ultimately delivering incentives through Venmo and PayPal.
The scanning procedure was repeated many times. It must analyze all possible routes to the snack bag, and possibly a bottle cap can be used to take a picture. A glare, a bottle cap, or a crinkled bag put sideways and maybe still containing soda drops, for example, might all be present.
That’s where machine learning comes in: every snapshot taken with PepCoin teaches the scanner how and where to detect the data it needs to analyze better.
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Buy a single-serve Frito Lay item and a single-serve 20-ounce bottle from any participating retailer. Scan or enter the under-the-cap number on drinks or the front or back barcode on snacks at www.pepcoin.com. (Consumers can scan the code using their smartphone camera.)
PepsiCo has announced the introduction of its first refund loyalty program, which allows users to earn points by buying PepsiCo soft drinks and Frito-Lay snacks together.
Mobile users can scan barcodes on snack bags and beneath bottle caps with their camera phones to earn up to 10% of the purchase price back, according to PepCoin’s website.
Before payments are automatically distributed to PayPal or Venmo accounts, PepCoin members must earn $2. You only need to scan the codes once, and you must verify the food and beverage pairings within two days of each other.
To participate in the program, customers must first create an account on PepCoin.com.
Pepsi, Ruffles, Mountain Dew, Fritos, Aquafina, Cheetos, Lay’s, Doritos, Lipton bottled drinks, and SunChips are among PepCoin’s brands, with over 1,000 different soft drink and food combinations.
Every day, users are restricted to scanning three beverages and three snacks, and they must be matched. According to PepCoin, customers may earn 10% back on beverages and snacks.
Customers must, however, buy a drink and a snack to get money back in the service, according to the website. Only new customers will be permitted to scan one snack or drink. Once your balance reaches $2, the money is instantly sent to your PayPal and Venmo accounts, according to PepCoin.
The system would remove $0.25 from your account every month after that until you scan a food and drink combination for at least 120 days, according to the website.
The PepCoin logo can be seen on Aquafina, Pepsi, Mountain Dew, Mug Rootbeer, Lipton tea, and Sierra Mist products. Sun Chips, Ruffles, Lays, Munchies, Funyuns, Doritos, Cheetos, Fritos, Lay’s, and Chester’s Fries are just a few of the foods with the logo on them.
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Pepsi will compensate you with PepCoin if you eat Doritos and drink Coca-Cola:
If your cupholders are crammed with empty LaCroix containers or you’ve reorganized your refrigerator to make place for one more 12-pack of Bubly, you’re not alone. According to Euromonitor, Americans have a great affinity for flavored seltzers and carbonated water.
According to the company, seltzer water sales have surged by 88 percent in the past six years, reaching more than $3 billion in the previous year. (We estimate that the number of people who say “Pamplemousse” has increased by double digits throughout that time.)
On the other hand, soda is a whole other story. Coca-Cola sales increased by 8% during the same six-year period, whereas Pepsi sales fell by 9%. That brings us to PepsiCo’s new PepCoin rewards program, which is effectively a high-tech way of saying “We’ll pay you if you drink our product.”
Customers can now earn PepCoin by buying a PepsiCo beverage and a Frito-Lay snack at the same time. They’ll just use their phone to scan the codes inscribed on the bag and under the bottle cap, and after they’ve read the $2 value of codes, the money will be sent to their Venmo or Paypal account immediately.
Because 10 different Frito-Lay products, including Cheetos, Doritos, SunChips, Lay’s, and SmartFood popcorn, are PepCoin-compliant, there are now over one thousand potential drink-and-snack combinations. (The codes for both shipments do not seem to be verified at the same time, and they must be scanned 48 hours apart.)
How long do you think it would take you to earn $2?
According to the PepCoin FAQs, each scanned snack combination is worth around 37 cents, or 10% of the aggregate retail value of the two items. To reach the $2 threshold, you’ll need six drinks and six food packages, according to the math. (Every day, there was also a three-combo restriction.)
When you spend four months without scanning anything, a 25-cent “checking account fee” will be deducted from your PepCoin balance. “We’re delighted to bring PepsiCo closer to their consumers for the PepCoin rewards program,” PayPal’s Marketing Director, Leanne Sheraton, said in a statement.
According to the firm, “PayPal and Venmo’s payment solutions allow physical companies to engage with their consumers online while simultaneously offering an easy method for customers to redeem and spend their additional perks.” Unlike other rewards systems, PepCoin promises to have no expiry date, which means clients can receive an unlimited amount of cashback. You’ll also have enough for an eight-pack of LaCroix after a few combos.
You wouldn’t waste your hard-earned PepCoin on a competitor like this.
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