ID.me announced the acquisition of Perkla, an online shopping portal for students. Now ID.me will offer Perkla's millennial shoppers a way to get student-only deals by registering through the website's marketplace.
ID.me allows shoppers to unlock exclusive student discounts and cash-back rewards specific to their online identity. The Marketplace, as it's called, also turns shopping into a game by rewarding students with increased cash back on purchases for sharing offers, connecting their Facebook account and making repeat purchases.
"Perkla developed a compelling shopping experience for students," said Blake Hall, CEO of ID.me. "As a result, ID.me's acquisition of Perkla will help retailers reach a broader student audience. Additionally, Justin Belmont, who founded Perkla, has experience marketing to students; his expertise will help retailers craft campaigns that drive more revenue from the student audience."
Belmont is now ID.me's director of product management, leading the company's product initiatives for its new retail rewards marketplace.
"Perkla found success online by offering a curated selection of leading brands and deals for students," said Belmont. "I'm thrilled to be bringing ID.me's eligibility verification capabilities to Perkla's retail partners and creating an even richer shopping experience for students everywhere."
ID.me works with more than 500 retailers and advertisers including big names such as Under Armour, Dell, Target, Macy's, Groupon, Wayfair, Nordstrom, Newegg and Best Buy.
Last month ID.me launched a retail rewards program that offers cash and prizes for gaming.
ID.me's strategy is to provide influential shoppers and group members with strong incentives to become wedded to a brand. The gaming aspect and the social connections it provides help to create valuable loyalty between the customer and the retailer. Customers put a lot of emphasis on rewards. In a recent survey, 69 percent of shoppers said they would switch brands to earn points.
"Brands want to reach millennials and gain their loyalty because millennials will be tomorrow's affluent shoppers," said Hall. "While millennials as a group are digital natives, students exhibit the highest propensity to interact via a mobile device. If a brand can successfully market to students, then it's a fair assumption that the lessons learned will be applicable to the valuable millennial demographic. There is a significant revenue opportunity for brands who successfully navigate this trend and a corresponding risk of being left behind for those brands that are not successful."
-See this ID.me press release
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