Shopkick case study Essay
Shopkick case study
Largest Real-World Shopping App Honored as one of the World’s Most Innovative Technology Start-ups PALO ALTO, Calif., Aug. 28,2012 /PRNewswire/ — Today, The World Economic Forum (WEF) announced that shopkick, the largest real-world shopping app, is one of 23 companies across all industry sectors named as the world’s most innovative technology startups for 2013. These industry-changing companies are being recognized for their potential to transform the future of business and society. Shopkick is one of two mobile companies selected worldwide.
This honor recognizes shopkick’s innovation, potential impact, growth and sustainability, proof of concept and leadership. Previously honored companies include Twitter, Dropbox, Wikipedia, Palantir, Bloom Energy and Google. “These companies are more than pioneering the way we use technology; they are transforming how we as a society are growing and interacting with each other,” said Silvia von Gunten, Head of Technology Pioneers at the World Economic Forum.
“They are also providing new opportunities for people to harness the potential of technology.” “shopkick is involved in two of the biggest shifts in business right now: smartphones becoming consumers’ primary computing platform, and brick & mortar merging with online retail into a cohesive interactive experience. Retail is the third largest industry in the world, after energy and healthcare. Our goal is to transform shopping into a more personal, rewarding and entertaining experience for everyone,” said Cyriac Roeding, CEO and Co-Founder of shopkick. “It is truly an honor to have our work recognized by The World Economic Forum and we are thrilled to be included as a Technology Pioneer alongside such innovative companies as Twitter, Dropbox, Wikipedia and Palantir.”
In less than two years, shopkick has changed the retail landscape in a way that benefits brick & mortar and its shoppers. A recent Nielsen report ranked shopkick as the shopping app with the #1 highest engagement rate (minutes spent per user), ahead of eBay’s, Amazon’s and Groupon’s apps, and as the 4th most widely used shopping app, behind only eBay, Amazon and Groupon, and ahead of all physical retailers’ own apps, such as Starbucks and Walgreens. “We are helping to lift the in-store shopping experience into the Internet age by harnessing the power of mobile to make physical stores more interactive, enjoyable and valuable for consumers,” continued Roeding. “Our cross-retailer rewards service has proven to positively impact our partner retailers’ and brands’ bottom line through an increase in shopper visits, product interactions and actual transactions.”
In its first full year of operation (2011), shopkick helped drive more than $110 million in-store revenue for partner retailers and brands. From January through July 2012, shopkick had already driven $100 million in revenue for its dozen retail and 50+ brand partners — $35 million of that in just June and July. Partners include Target, Macy’s, Old Navy, Crate & Barrel, Best Buy, American Eagle Outfitters, CVS/pharmacy, Simon Property Group, The Sports Authority, Toys”R”Us, west elm, The Wet Seal, Kraft Foods, Procter & Gamble, Disney, Unilever, Intel, HP and more. Some overall shopkick stats:
More than 1 billion in-app deals and offers viewed since launch In an average month, users open the app on 9 days out of 30. That is one of the highest engagement rates in mobile. More than 1 billion times users have looked at stores in the app. Users are tapping on stores in the app 50-100 million times per month.
More than 3.5 million users 9 million verified walk-ins to partner stores 16 million product scans, up from 10 million in Jan. 2012, 7 million in August 2011 and 3 million in February 2011 Sixty-five percent of all shopkick users are women. More than half of female users have kids. The average shopkick user is 27 years old and a mom with 1 kid. Only 4% of all users are younger than 18. Each year the World Economic Forum chooses 20-35 new Technology Pioneers from hundreds of applicants. Candidate www.printthis.clickability.com/pt/cpt?expire=&title=World+Economic+Forum+Names+Shopkick+Technology+Pioneer+for+2013+–+PALO+ALTO%2C+Calif.%…
World Economic Forum Names Shopkick Technology Pioneer for 2013 — PALO ALTO, Calif., Aug. 28,2012 /PRNewswire/ —
companies are nominated by Members, constituents and collaborators of the World Economic Forum, and by the public. A selection committee, comprised of top technology and innovation experts, academics and venture capitalists, reviews all applications before making its recommendation to the World Economic Forum. Shopkick will join the other 22 honorees at the Forum’s Annual Meeting of the new champions in Tianjin, People’s Republic of China from September 11-13, 2012. More information about the World Economic Forum’s Technology Pioneers program can be found at http://www.weforum.org/techpioneers.
Shopkick is available for free on the iPhone from the App Store at www.itunes.com/appstore/ and for Android from Google Play at https://play.google.com/store/apps/details?id=com.shopkick.app. About shopkick, Inc.
shopkick, Inc. is a Palo Alto-based startup funded by Kleiner Perkins’ iFund, Greylock Partners and Reid Hoffman, founder of LinkedIn, and investor in Facebook and Zynga. In August 2010, shopkick launched the first mobile application that hands consumers high-value rewards, offers and exclusive deals at shopkick’s national retail partners simply for walking into stores and malls.
Even more rewards can be earned for scanning partner brand products at over 250,000 stores nationwide. In combination with a groundbreaking new location technology called “shopkick Signal”, the app can verify location within feet, and because the detection occurs on the phone, privacy of presence information is completely in the users’ control. shopkick’s growing partner alliance includes American Eagle Outfitters, Best Buy, Crate and Barrel, Macy’s, Old Navy, Simon Property Group, The Sports Authority, Target, Toys”R”Us, west elm, The Wet Seal, Visa, Kraft Foods, Procter & Gamble, Unilever, Intel, HP and more. shopkick is the only 100% performance-based marketing platform in the physical retail world, with measurable foot traffic and transactions at stores. The app grew to 3 million users in its first 18 months. The free shopkick app is available for the iPhone and Android.
SOURCE shopkick, Inc.
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