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Shopkick is kicking ass and taking names.
The company has rewarded shoppers with $25 million and delivered $800 million in sales to its partners, it said today.
Shopkick is a mobile app that you use to earn rewards and deals, known as “kicks,” simply by walking into a retail store. You can redeem Kicks for store gift cards, free coffee or dinner, accessories, song downloads, movie tickets, donations to charity, etc.
Today, Shopkick shared some key metrics about just how well it is doing.
Shopkick is the most used real-world shopping app, with the most active users and time spent in the app per user per month, according to Nielsen ratings.
Shoppers have earned $25 million and redeemed 7 million gift cards since Shopkick launched in 2010. They have scanned 70 million products, with 14 million scanned in the most recent quarter. People have viewed 4 billion product offers and walked into 35 million stores.
The startup recently generated buzz with the launch of the ShopBeacon, a Bluetooth-LE-based platform that uses shoppers’ in-store locations to serve them department-level recommendations, deals, and rewards. Shopkick partnered with Macy’s for the initial ShopBeacon trial, claiming it was the first time a large mass retailer deployed a beacon solution. ShopBeacon is now in action in Macy’s San Francisco and New York stores.
American Eagle is also installing it in 100 locations, and Shopkick aims to have the technology deployed in more than a thousand retail stores by the end of Q1 2014.
Beacon technology is red-hot right now, with heavyweights like PayPal and Apple developing their own, as well as startups like Shopkick, Estimote, and Swirl.
Beacons have the potential to transform physical retail by creating a bridge between the online and offline shopping worlds. A vast majority of retail still happens offline. However, online retailers have an advantage in that they have access to customer data — who they are, what they are looking for, and their shopping behavior. This creates opportunities to hit them with targeted offers.
Physical retailers, on the other hand, have little idea who walks in to their store and what they look at until checkout. Beacons make it possible to fill in these data holes.
CEO Cyriac Roeding attributed Shopkick’s success to being a “win, win, win” for shoppers, retailers, and brand partners (not to mention itself).
More than 10,000 individual stores are now using Shopkick. The company said it drove more than $500 million in revenue for retail and brand partners in 2013, compared to $200 million in 2012, and reached its first profitable in Q4 2012.
It now has major retail partnerships last year with Macy’s, Old Navy, Best Buy, Target, American Eagle Outfitters, JCPenney, Crate and Barrel, and The Sports Authority. It now works with over 150 brand partners including P&G, Unilever, Mondelez, L’Oreal, Revlon, Pepsi, General Mills, and HP.
The Bay Area startup has raised a total of $20 million from Kleiner, Greylock Partners, Reid Hoffman (investing as an individual before he became a partner at Greylock), Citi Growth Ventures & Innovation Group, and Ron Conway’s SV Angel.
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 t... read more »
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