The early days of the pandemic brought abrupt and significant changes to shopping behavior. Consumers quickly shifted the channels in which they purchased specific items.
As pointed out by Fetch Rewards Chief Revenue Officer Pat Burke during a recent conversation with other company leaders, some of these channels turned out to be more profitable for both retailers and brands. The ability to run targeted campaigns to keep shoppers in those channels, therefore, became key.
“The specificity of our data allowed us to then go back and execute programs at the channel and retail level to capture those shifts in behavior,” says Burke.
While it’s certainly important for brands in the modern market to have the ability to be retail agnostic, the reality is that many retailers have built loyal followings among consumers. The relationship between brands and retailers is long established and symbiotic.
“One of the things that was a tipping point for us,” says Fetch Founder & CEO Wes Schroll, “was reaching that scale where we don’t just have to rely on running national promotions because that was the only way to get enough sample set for it to be meaningful to a brand we’re working with. We can now transition and target channels or even specific retailers and move the needle for a brand. I think that has been a big unlock.”
What’s more, these promotions are curated and crafted for individual shoppers based not on demographic data—an imprecise way of lumping consumers together—but on their actual shopping data. When consumers scan their receipts into the Fetch app, they’re willingly providing Fetch with their shopping history with the understanding that they’ll receive better, more personalized offers, plus rewards.
“We can see changes in life when you’re trusting us with your purchase behavior,” says Burke. “We in turn can look at that behavior and see that you’re moving. We can see that you just introduced a baby to your household. We can see you just got a pet like everybody did during the pandemic. We have the ability to be more relevant. It all comes back to the signals.”
In short, this information allows brands to treat each consumer as an individual. If a shopper has recently switched to a vegetarian diet, that will show up in their purchase history and allow a brand, for example, to replace meat-based promotions with ones that are more relevant. This builds meaningful relationships between a brand and consumer.
Are you ready to build stronger relationships with your consumers? Reach out to the Fetch team today to learn more about becoming a brand partner.