Digital loyalty card app is not new worldwide since we already have Perx in Singapore, eCoffeeCard, MazeCard and Rewardle in Sydney.
Stempl is the first mobile loyalty app in Vietnam. Although this concept is familiar to local startups, it is still relatively new to consumers. So it will be a challenge for the team to acquire users and merchants locally.
But with the right strategy and knowledge of the local market, they have already acquired 110 merchants in just two months after launch and are seeing an average of 20 percent weekly growth rate. It currently has between 5,000 to 10,000 active installs through Google Play.
The founding team includes Hakon Harberg, Adam Holtrop and Thai Le. They have already established a team in Vietnam with 30 employees. My conversation with Hakon tells me that they have a workable market entry strategy in place by combining both promotions and the loyalty stamp feature.
While receiving inspiration from daily deals services like CityOffers, which launched in Vietnam earlier this year, Stempl takes it one step further by enabling real-time deals and coupon redemption in one app.
As far as I can remember, some Vietnamese teens have the habit of gathering with friends even before deciding where to go and to eat. In high school, I did experience this many times when we stood under the heat of the sun choosing the location and ending up finding nowhere to go. We then usually blame each other for not bringing the loyalty card.
If Stempl implements the appropriate strategy and targets the right early adopter segment, it could be a big hit in the market.
The app is available for download in Google Play Store and the iOS App Store.
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