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RetailMeNot finds strong interest in location-aware dealsBy
Results from how consumers are engaging with mobile couponing app RetailMeNot reveal that location-aware deals are resonating.
Since the launch of geo-targeted offers within the RetailMeNot app in 2012, more than 65 percent of users have opted-in to receive location-aware deals. Building on its location-enabled technology, the RetailMeNot app’s geo-fencing abilities has been expanded beyond malls to provide consumers relevant offers at nearly 15,000 locations.
“It all starts with the offer … having the most offers and right offer,” said Brian Hoyt, vice president of communications at RetailMeNot, Inc.
“Having the offer at the right time and place is such a valuable service for both consumers and our retail partners,” he said.
Investment banking firms Goldman Sachs and Jeffries cited that RetailMeNot’s progressive mobile initiatives addresses recent concerns on business sustainability as it highlights improvements in direct traffic and traction in the offline mobile opportunity.
RetailMeNot is expanding beyond its initial heritage as a coupon Web site by providing users with more relevant digital offers though e-commerce and in-store channels.
In twelve months ending June 30, 2014, the company’s apps experienced nearly 450 million sessions. Additionally, consumers downloaded the apps 18.5 million times.
In twelve months ending June 30, 2014, RetailMeNot app users saved their favorite offer 29 million times. Users also “favorited” their preferred retailers more than 73 million times on the app.
In areas of new offer content, RetailMeNot recently added thousands of new localized restaurant offers for app members. The location-enabled offers solve a challenge for chain and franchised restaurants seeking to ensure their local marketing promotions reach the right consumers.
Upcoming innovations include numerous services and features to support retailers and consumers alike, including a new design for the RetailMeNot app that will provide consumers more flexibility to personalize their savings opportunities; improved testing capabilities to help retailers optimize sales results and return on investments in the RetailMeNot mobile platform and an expansion of content and promotional delivery capabilities including, new digital circular and curated “showcases” for retailers to promote product level offers for millions of RetailMeNot app users.
With the way that consumers have embraced mobile for finding coupons and deals, RetailMeNot is facing growing competition in this space.
For example, Scanbuy recently announced a major upgrade to its ScanLife app, giving consumers the opportunity to receive personalized deals and promotions as well as rewards based on their scanning activity via the app’s recommendation engine.
Users can scan a QR Code or UPC code and choose to receive hyper-targeted incentives, coupons and other deals from among thousands of national and local stores based on their product scan in the Deals page and in-app Inbox. For example, consumers who scan a DVD player’s UPC code will receive special offers for home entertainment products
They may also select from a dozen product categories themselves on the My Interests page to receive recommended product offers in Health and Beauty, Food and Drink, Automotive, Travel and Tourism, and more, enabling the user to be in full control of the offers they receive.
To earn mobile points or “mPoints” for scanning products, users check their Inbox and select categories of interest and connect to Facebook to discover new deals. The points can be redeemed for rewards such as gift cards from iTunes, Amazon, Starbucks and other online retailers, charitable donations or fun merchandise.
Mobile is growing as a top of funnel service for retailers where consumers come for discovery and research. In addition, mobile apps such as the aforementioned support retail partners’ in-store new customer, foot traffic and sales goals.
And the power of personalization and location-aware technology built into the RetailMeNot and ScanLife app experiences helps support retailers’ common goal of getting the right offer, at the right time to the right buyer.
“Operations-wise, our goal to grow our mobile capabilities within the business helps guide numerous aspects of the company future path,” Mr. Hoyt said.
“Our roots might be in coupons and e-commerce, but mobile is helping us as a company to deepen our relationships with retailers and offer consumers a wider range of offers and a more personalized experience.”
Michelle is editorial assistant on Mobile Commerce Daily, New York
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