Thanks to recent advancements in bluetooth technology, mobile devices and countless other innovations, brands and businesses can now reward their customers more quickly and seamlessly than ever before. And Fetch Rewards wants to make this process even faster and easier.
Madison-based Fetch Rewards hatched its first application, Shop Fetch, four years ago with the goal of optimizing the in-store shopping experience for customers. The Shop Fetch app offers a way for consumers to utilize its in-store scanning technology while they shop to receive coupons and savings along the way, ultimately leading to an easier, more convenient checkout experience.
Birk Cooper, chief marketing officer for Fetch Rewards, said that while rolling out Shop Fetch, the team formed a relationship with Kraft Heinz. Kraft admired the direct interaction with the shopper and the data the team was collecting about a consumer’s purchases. Based on this interest, Kraft Heinz challenged the Fetch Rewards team to create a larger scale, direct-to-consumer loyalty and rewards program for them.
“We said yes, we can do this for you, but we don’t want to do this just for Kraft,” said Cooper. “We will do this if we can bring together other, non-competing, consumer packaged goods companies all into one rewards program.”
Therefore, in January 2017, the Fetch Rewards app was born. Users simply have to take a picture of a receipt each time they purchase groceries and they will earn points for every item purchased from the brands in the app, which can be redeemed for gift cards from hundreds of retailers.
For the first year, the team focused on testing out the technology and scalability of the product in an invite-only environment. The Fetch Rewards app was opened up to all users at the beginning of 2018. Now, the app is available in retailers nationwide and has close to 500,000 sign-ups. Fetch Rewards said it receives more than one receipt scanned into the app per second.
Fetch Rewards has relationships with nearly 290 brands and the app features household names like Kraft Heinz, Miller Coors, Unilever, and Campbell’s, among others. The team is in the process of adding several more consumer packaged goods to the platform with more partnership announcements planned in the coming months.
Cooper said, that the goal is not so much about the number of brands, but that “we want to make sure when a consumer is navigating the grocery store that we [Fetch Rewards] are touching every aisle. We think that’s how shoppers view it as well; they want each category covered in the store versus a set number of brand names.”
The majority (30+) of the Fetch Rewards staff, including technology, marketing, operations, support and management teams, sits in the Madison headquarters, while an additional 10-20 employees are located in downtown Chicago (33 N. Dearborn St.) and New York City. The Chicago and NYC teams focus on business development and analytics. Currently, Cooper said that there is no plan to expand to other cities but that could change depending on where future clients and brands are located.
So, what’s next for Fetch Rewards? Cooper made it clear that Fetch Rewards aspires to use its technology to move beyond grocery store receipts.
“Anywhere you buy food, our aspiration is for you to be able to scan that receipt, get rewarded for it, and have it be additive to your Fetch Rewards experience,” said Cooper.
Think: restaurants, coffee shops, airports; the opportunities are limitless.
Based on feedback from users, Fetch Rewards recently rolled out shopping lists and recipe inspiration components in the app. Cooper noted that they would be building out those features as well as additional exciting components to make Fetch Rewards a pre-shop planning destination. The app will soon be accepting e-commerce receipts and they are also looking at getting into fulfillment.
“In one to two years, if you are thinking about food, and getting food into your house, we want Fetch Rewards to be where you’ll start,” said Cooper.
Cooper recognizes that there are additional competitors in the receipt scanning space, but there is not a direct competitor focused on loyalty, with multiple food brand relationships, that is pouring everything into once place. As Fetch Rewards continues to expand with new features like shopping lists, recipe planning and fulfillment, they will continue to build their brand identity and set themselves apart from the competition.
“Our key differentiator is the fact that we have multiple CPGs in one program and the brands don’t change,” said Cooper. “This means for you, as the user, you don’t have to scour for the deals and clip the special offers and jump through all the hoops. All you do is shop anywhere for your groceries, scan your receipts and you’ll get rewarded anytime any of our brands are on your receipt. It makes the savings experience a lot easier for the user.”
