Gucci Announces Pilot Program To Accept Crypto Payments
Milestone Date: May 4, 2022
Luxury retail giant Gucci is making big steps towards its adoption of blockchain by accepting payments made with cryptocurrency in select stores in the US. Assuming the pilot is deemed a success, the company plans to extend the pilot to all of its directly operated North American stores in the summer of 2023.
If customers want to make their in-store purchases with crypto, Gucci will email them a link that contains a QR code, which will allow the customer to execute the payment directly from their cryptocurrency wallet. Cryptocurrencies accepted include Bitcoin, Ethereum, Litecoin, Shiba Inu, Dogecoin, and some stablecoins that are pegged to the US dollar.
Luxury brands have been jumping headfirst into Web3 to experiment with innovative ways to enhance the customer experience, and customer loyalty, and to connect with the brand in a meaningful way at scale.
By Elizabeth Morrison
Published:April 20, 2023
Vogue Business - Technology