“After all the prices go up, everyone gets units or slows down. People are turning to private label. They’re saying no to entertainment… and the dollar We’re seeing consumers being forced to make real trade-offs as value pushes the envelope. So what we’re happy to celebrate is that people are having fun and making money. It’s about helping people save money.”
Gamify your shopping experience
Fetch is a mobile app that allows consumers to upload their receipts, receive points on their purchases, and redeem them for gift cards. Sponsored brands receive more points.Fetch has “visibility” [into] 152 billion in sales,” Hill said, with 18 million consumers accessing the app each month and 11 million receipts uploaded daily.
Upon opening the app, Fetch users are presented with a screen of personalized offers based on the brands and retailers they’ve shopped in the past. Fetch also says it works with its consumer products customers to ensure they don’t “cut prices all over the place when there’s a large portion of the population that’s going to buy your brand anyway.” she said.
“What I want to convey to our brand partners is that [that] I’m not going to subsidize your base. Because you already know how that consumer has engaged with your brand. So your offer to that person is going to be different than someone who bought your competitor last year. You want to involve these consumers in your cycle and journey with your brand. And then that consumer gets more and more offers that are relevant to them, so it’s like a continuous cycle. ”
While Fetch remains “retailer agnostic” and allows consumers to redeem points from many retailers, Fetch [retailers] “Look outside your four walls and identify the areas you want to focus on,” Hall said.
“Thanks to mobile phones, consumers have all the information they need about prices, and they are becoming more and more savvy…about what they are about to buy, including reviews, prices, and sales. You’ll have access to everything, location, variety, etc. It’s at your fingertips. So retailers face a challenge: They’re delivering the consumer experience in a way that makes sense. , online presence is more important than ever. And there are ways to screen for value in all kinds of different formats for whatever consumer they’re engaged with.”
Fetch bites into candy sales and Halloween trends
Fetch can also use data collected from the app to provide data on product categories and track the performance of specific brands, Hall explained. Fetch recently analyzed 9.1 million receipts submitted between January 1 and October 11, 2023 to understand what types of chocolate consumers are purchasing.
During the period, Fetch app users purchased 2.6 million chocolate bars, with the top five most popular chocolate brands being Hershey’s, M&M’s, Snickers, Twix, and The Three Musketeers. Fetch also analyzed chocolate bar price trends and tracked month-on-month changes in prices for the first half of 2023. The average price of a chocolate bar started the year at $3.02, rising to a high of $3.76 in May 2023, then $3.50 in June 2023.
Fetch can also use that data to predict the best time to run promotions, Hall explained. This year, Fetch changed its Mars Halloween candy promotional strategy, starting the promotion earlier and ending before the holiday instead of running it until October 31st.
“We learned [that] “Everyone buys candy the week before Halloween, so we had to start the offer much earlier and stop it earlier,” Hall said. “We’ve optimized that strategy this year and are still waiting on all the final results.” However, it seems like this is the case.” As a result of shifting the timing, we were able to drive significantly more growth than last year. ”