Bvndle Loyalty, an investee company of VFD Group, has announced the launch of its inaugural Bvndle Rewards Festival, an event aimed at addressing the decline in global customer experience.
The Managing Director of Bvndle Loyalty Ltd, Mr Ikechukwu Nwaguru, stated at a media parley in Lagos on Wednesday that the event aimed to address an impending $3.7 trillion loss due to the non-appreciation of customers.
Nwaguru said that the two-day Festival, slated for December 8 and 9, was positioned as Africa’s premier stage for reimagining customer appreciation.
Bvndle Loyalty is, among others, a platform to help businesses, whether online or offline, engage and retain customers effectively. It helps in crafting exceptional shopping experiences that not only drive repeat purchases but also foster customer engagement and advocacy.
“This festival is a bold move to combat the global customer experience crisis, which analysts have warned could cost businesses $3.7 trillion in lost sales by 2025. The festival’s core message is that loyalty is not a metric. It is a relationship. In an era where brand trust is harder to earn and even harder to keep, the Bvndle Rewards Festival offers something truly different.
“We are creating a world-class experience that spotlights the people behind the numbers, the customers who keep showing up, the brands that consistently deliver, and the communities that turn everyday engagement into something meaningful,’’ Nwaguru said.
According to Nwaguru, the festival is designed to be more than just an event, but a movement to celebrate customer loyalty “in full colour”.
He said that global studies indicated that a mere 5 per cent increase in customer retention could boost profits by 25 per cent or more, highlighting the economic power of genuine customer relationships.
Nwaguru said that the Bvndle Rewards Festival was structured to be the answer to this challenge, creating an ecosystem where loyalty would be nurtured, rewarded and celebrated as the most valuable currency.
Speaking at the event, the General Manager, Product and Marketing, VFD Group, Adatugo Oyebanji, announced that the company was partnering with Bvndle to host the Rewards Fest in December, a gesture to give back to its customers.
Oyebanji said that the event aimed to provide an exciting experience with experiential activations, redemptions, and access to various opportunities. According to her, the bank has integrated its VeeRewards product with Bvndle, allowing users to earn and redeem points for every transaction performed within the app.
She said that this digital wallet engine would power the entire experience at the Bvndle Rewards Fest. Adatugo said that customers could look forward to using their VeeBank or Bvndle reward cards to earn and redeem points during and after the event.
She said, “With its customer-centric approach, VeeBank is set to make the event an unforgettable experience for its customers.’’
The Head of Brand and Communications at Abbey Mortgage Bank, Affiong Okpo, also disclosed that the bank had launched a bonding platform offering a unique transactional exchange system using coins.
Okpo said that the platform, which would be showcased at the festival, aimed to engage young people, provide them with a sense of belonging, and promote financial inclusion.
Okpo said that the platform was designed to support economic growth, especially in times of forex challenges.
“With this platform, users can earn coins by performing certain transactions and use them to pay for services from different businesses on the platform. The bonding platform creates a large ecosystem for services, allowing users to purchase what they need seamlessly.
“It is also a loyalty system that rewards users for their transactions, enabling them to use earned coins to access various services. This innovative approach is expected to have a positive impact on the economy,’’ Okpo explained.
