Participants will receive 15% back on their purchases in bitcoin. The promotion will be available until mid-March according to Shake Shack.
Shake Shack's Bitcoin Trial Experiments to Attract Millennial and Gen Z Customers
The fast-food chain Shake Shack has teamed up with Block Inc. to offer bitcoin ( BTC ). Ann-Marie Alcantara of Shake Shack and Wall Street Journal reported that the announcement was made to attract younger customers.
Alcantara was told by executives at the burger chain that it is looking to attract Gen Z and millennial customers. However, Shake Shack will also offer 15% back on all purchases, paid in bitcoin. To get the Bitcoin reward, customers will need to use Block's Cash Card or Cash Boost system.
Jay Livingston, Shake Shack’s chief marketing officer, stated to the WSJ reporter, that there hasn’t been a demand for cryptocurrency payments at the fast-food chain. Livingston stated that the Block's cash app experiment is a good way for the restaurant to decide whether it should accept digital assets.
Livingston explained to Alcantara, "You should always be putting your money on things that will truly be meaningful and not waste resources trying to find the ones that won’t." It would be very difficult to get people to use crypto if we started accepting it at our kiosk. Cash App has been promoting it so you'll get more people who want it and want to learn it," Shake Shack CMO stated.
Shake Shack isn't the only one to try crypto solutions. Burger King (BK), and Robinhood offered a single DOGE (Doge) reward for customers who spend $5 at Robinhood . Robinhood and BK distributed 20 bitcoins and 200 ether to BK customers who spent $5 during the rewards event timeline.
McDonald's is yet to test crypto payments, but the fast-food chain has been using non-fungible token technology (NFT). McDonald's introduced its cult-classic McRib NFT collectible in November. McDonald's France also tweeted images of NFTs back in April.