The Waivio platform can be used for many different businesses, small and large. We decided to focus on restaurants because today, one in ten people dine out every day, which means that even a small number of active users can produce a large number of reviews. So we don't need to wait for mass adoption to start this business.
With regard to coupons versus rewards - indeed, people want flexibility to use their rewards and STEEM (in contrast to discounts) can be converted to cash, used in the system and perhaps even used as a payment directly at restaurants.