Shopping app shopkick announced the rapid deployment of its shopBeacon technology to thousands of stores by the end of its first quarter 2014.
The company reported expansion across several key company metrics, from expanded testing of its shopBeacon technology to the cash value awarded to its growing consumer base. Among the fastest-growing metrics is the deployment of shopBeacon, which started with two Macy's stores in late November and will be active in thousands of stores nationwide by the end of Q1.
Macy's (NYSE: M) launched a test of shopkick's shopBeacon technology in November 2013 at two locations. Safeway (NYSE: SWY) and Giant Eagle rolled out iBeacon to 150 supermarkets and, in December 2013, Apple rolled out iBeacon to all 254 of its U.S. stores.
American Eagle Outfitters (NYSE: AEO) also tested the program and announced a rollout to 100 stores in January. AEO was the largest retail deployment of the program to date. Additional retailers include J.C. Penney, Office Depot, Carter's and OshKosh B'Gosh.
By the end of Q1 2014, shopkick will have shopBeacon deployed in more than a thousand retail stores
iBeacon uses a low-frequency Bluetooth signal to communicate to shoppers' smartphones via installed beacons within the store, eliminating the need for in-store wireless or Wi-Fi signals. It works with an app installed on the shopper's phone.
"We have created a unique business model for shopping a win, win, win for shoppers; retailers and brand partners; and for ourselves and the current traction shows we've made great strides in all three metrics," said Cyriac Roeding, CEO and co-founder of shopkick. "We have more shoppers, benefiting a bigger network of brands and retailers, and the most leading-edge in-store technology."
Today, more than 10,000 individual stores across multiple retailers and 250 of the country's largest malls are using shopkick.
In 2013, shopkick drove more that $500 million in revenue to retail and brand partners, up from $200 million in 2012 and $110 million in 2011, according to the company.
-See this shopkick press release
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