The popularity of mobile couponing is on the rise, and Checkout 51 has been busy harnessing that momentum since expanding to the U.S. earlier this year.
Checkout 51's approach to digital couponing is a little different from other initiatives like those related to Walmart's e-receipts. The app allows shoppers to buy consumer-packaged goods at any store they choose and take a picture of the receipt to register their purchase in the app whenever they want. Savings are stored in the app and when their account reaches $20 users can cash out and get a check in the mail.
Retailers don't have to deal with the delays of customers rummaging around in their pockets or purses to find the right coupon, shoppers save money that they can spend on whatever they want, and brands collect data about their shopping habits while targeting deals more effectively.
"Our CPG partners love it because instead of spraying and praying with all those coupons to print and distribute, they can give people exactly what they want at a fraction of the cost," co-founder Noah Godfrey told FoodNavigator-USA in April.
The app is based in Canada, but expanded to the U.S. in January this year and gained 1.4 million users in its first three months. Since then, Checkout 51 has reached the 2 million user milestone.
The coupon app's rapid growth reflects the appetite U.S. shoppers still maintain for the mini deals. RetailMeNot's Shopper's Trend Report found that as much as 96 percent of shoppers actively use coupons, thanks to a healthy boost from digital coupons, while a report from Juniper Research last month projected there to be over a billion mobile coupon users by 2019.
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