EUROPE & UK

The Future of Loyalty Is Time: Inside Selfridges’ Tokenized Store Experience

10 March 2025

Luxury department store Selfridges has unveiled a novel evolution of its loyalty strategy—one that places time, rather than transactions, at the center of customer value. In a move that signals how loyalty programs are rapidly changing, the iconic retailer has announced that members of its loyalty ecosystem will now be rewarded for time spent inside its stores through the use of digital “keys.”

The initiative, known as Selfridges Unlocked, effectively tokenizes customers’ physical presence. Each visit or moment spent engaging with Selfridges can be recorded by scanning a unique digital key, which then unlocks access to products, experiences, and services across the Selfridges universe. As members collect more keys, they progress through different levels of the program, gaining access to increasingly exclusive rewards—including the opportunity to shop outside of regular store hours.

Loyalty Beyond Transactions

Traditional loyalty programs have long been anchored in spending: the more you buy, the more points or discounts you earn. Selfridges’ approach marks a meaningful departure from this model by recognizing time and attention as valuable assets in their own right.

According to Selfridges, the program is designed to reward customers simply for showing up—whether they are browsing, attending in-store events, or engaging with curated experiences. This reframes the relationship between retailer and customer, placing emphasis on engagement, curiosity, and community rather than purely on sales volume.

In doing so, Selfridges is aligning its loyalty strategy with broader shifts in consumer behavior, particularly among younger demographics who value experiences, exclusivity, and brand storytelling as much as—or more than—discounts.

Tokenizing Time: A New Kind of Currency

At the heart of this initiative is the concept of tokenization—the representation of value through digital units that can be tracked, accumulated, and redeemed. While tokenization has traditionally been associated with financial assets, cryptocurrencies, or digital collectibles, Selfridges’ model applies the concept to something far more human: time spent in a physical space.

This approach echoes ideas from the digital attention economy, where platforms monetize time spent on screens. However, Selfridges flips that logic by shifting attention back into the physical world, rewarding in-person presence rather than online engagement.

Although Selfridges has not positioned the program explicitly as a blockchain-based system, the mechanics closely mirror tokenized ecosystems:

• Time is measured and converted into digital units (keys).

• These units unlock access and privileges.

• Progression is transparent, cumulative, and tier-based.

This suggests how tokenization principles can be adopted without requiring customers to directly interact with complex technologies like crypto wallets or decentralized platforms.

Implications for Retail and Beyond

Selfridges’ experiment could have far-reaching implications for the loyalty industry and for mainstream adoption of tokenization concepts. By treating time as a form of value, retailers may begin to compete not only for customers’ wallets, but for their physical presence and attention.

Potential ripple effects include:

• Experiential retail revival: Encouraging customers to spend more time in stores supports immersive environments, events, and community-driven spaces.

• Data-driven engagement: Measuring time spent enables more nuanced insights into customer behavior beyond purchase history.

• Expanded definitions of value: Loyalty may increasingly be earned through participation, exploration, and cultural engagement rather than spending alone.

More broadly, initiatives like this hint at how tokenization is evolving beyond physical and digital assets into behavioral and experiential domains. Time, attention, movement, and participation may all become measurable—and rewardable—inputs in future economic models.

A Glimpse Into the Future of Loyalty

Selfridges’ tokenized time model reflects a wider trend: loyalty programs are becoming platforms rather than point systems. As brands look for deeper, more emotional connections with customers, rewarding presence and engagement may prove more powerful than traditional incentives.

Whether or not blockchain infrastructure eventually underpins these systems, the core idea is clear—value is no longer limited to what people buy, but includes how they show up. Selfridges’ approach offers a compelling case study in how tokenization can quietly enter mainstream industries, reshaping customer relationships without requiring customers to think about the technology at all.

As research and experimentation in this area continue, tokenized loyalty models like this may become a blueprint for the next generation of retail, hospitality, and experiential brands.

A Global Loyalty Organisation (GLO) Take

From a global loyalty perspective, Selfridges’ approach reflects a growing shift in how value exchange is being redefined between brands and consumers. By recognizing time, presence, and engagement as rewardable behaviors, Selfridges is moving beyond transactional loyalty and into what Global Loyalty Organisation (GLO) describes as participatory loyalty—where customers are rewarded for how they engage, not just what they purchase.

This model signals a broader evolution of tokenization itself. No longer limited to assets, currencies, or collectibles, tokenization is increasingly being applied to human behaviors and experiences in ways that feel intuitive, inclusive, and frictionless. As more mainstream brands experiment with similar frameworks, concepts once associated with emerging technologies may quietly become foundational elements of next-generation loyalty ecosystems.

For the global loyalty industry, Selfridges offers a compelling case study in how brands can align experiential retail, data-driven engagement, and evolving consumer expectations—while setting the stage for future innovation at the intersection of loyalty, tokenization, and real-world attention.

Source: Selfridges / GLO