7-Eleven harnessing the collectibles trend: a way to bond beyond transactions?

Published: July 18, 2023

min read

From Disney and Warner Music to Nike and Starbucks, many of the world's biggest brands have already jumped on the Web3 bandwagon. Particularly as NFTs represent a very strong potential for improving brand-customer relationships, the adoption of NFTs and their use cases is just multiplying by the day.

Recently, as part of its 96th birthday celebration, 7-Eleven, the renowned American convenience store chain, unveiled Slurpee digital collectibles.

Customers can virtually create their own Slurpee drink mix with the new 'Find Your Slurpee Vibe' collectible. The digital collectibles experience can be explored on the website of 7-Eleven.

They can experiment with classic flavours like Cherry, Blue Raspberry, and so on.

After selecting a preferred mix, the virtual Slurpee machine creates a one-of-a-kind Slurpee vibe that can be shared on social media with the hashtag #SlurpeeVibe. Customers can also mint their mix, making it a digital collectible that can be incorporated into their digital wallets.

Although this is limited to use on mobile devices, desktop users will be provided a QR code for scanning in order to participate. To save the collectible, customers must have a digital wallet.

Customers who use 7Rewards^® or Speedy Rewards^® to claim the digital collectible will be entered to win Slurpee-inspired jewellery from premium designer King Ice.

We're constantly searching for innovative ways to celebrate with our customers on our favourite day of the year, Slurpee Day. This year, we're celebrating yet another first with our first digital collectible, 'Find Your Slurpee Vibe.

Marissa Jarratt,

Executive vice president, 7-Eleven

What does it mean for CIOs?

In this ever-evolving digital landscape, brands are constantly searching for innovative ways to connect with their customers. With the emergence and adoption of digital collectibles, brands began to realise the potential of this ground-breaking technology, which paves the way for brands to approach their customers on an utterly deeper level. As a result, all-new NFT use cases keep emerging at a fast pace in the industry.

More importantly, given the importance of embracing evolving trends like NFTs to tap into Gen Z and millennial consumers' preferences and resonate with these tech-savvy demographics, we believe 7-Eleven has made the right move at the right time.

Beyond this, 7-Eleven’s new step can empower the brand in various ways.

As the digital collectible experience is still new and intuitive, people are more likely to showcase it on social media platforms. This can spark conversations and excitement among NFT collectors and enthusiasts on social media. This way, it can spread rapidly and attract more new customers to the brand who may be interested in the collectibles. As a result, this organic buzz can help 7-Eleven increase its visibility among audiences and boost brand awareness.
Digital collectibles allow brands to interact with their customers in a unique way. In 7-Eleven’s new initiative, by providing audiences with the ability to make their own Slurpee drink mix, the company will create a sense of exclusivity for their audiences, which will make them feel special. And this kind of approach can significantly help 7-Eleven build a genuine community around their brand and enhance customer loyalty.
As Digital collectible experiences can provide valuable data for brands, they can leverage it to gather meaningful insights about their customers' collecting habits and patterns. Brands, in turn, can apply that knowledge for future product development, marketing campaigns, and to create personalised customer experiences for web3 initiatives. This way, building a digital collectible experience can assist brands like 7-Eleven in making informed decisions that align with their customers’ expectations and boost customer engagement and business growth.
Although 7-Eleven has just dipped its toes into the world of NFT, over time, it can open up new revenue streams and opportunities for the brand. For instance, they can create limited-edition collectibles, auction unique digital assets, offer NFT-based loyalty programmes, or even partner with artists, musicians, etc. to co-create NFT-based campaigns and experiences. This way, they can unlock additional revenue streams for the brand and also gain a competitive advantage.

Overall, it is undeniably critical to embrace NFTs and the world of Web3 to thrive in today's digital landscape. If it has yet to be explored, it is high time for brands to jump into this sea and explore the power of this technology to stay ahead of the curve and drive business growth.

Author

Pete Johnson

Pete is a MarTech expert guru with a knack for getting diverse MarTech solutions work for brands. He has a wealth of experience in working with a plethora of MarTech platforms that dive Personalized Omnichannel Experiences. When he's not at work, you can find him playing basketball or listening to jazz.