Schnucks to Join Ibotta Performance Network, Collaborate with Ibotta to Reimagine the Future of Grocery Shopping for Consumers

Rhea-AI Summary

Ibotta (NYSE: IBTA) announced that Schnucks, a leading grocery chain, has joined the Ibotta Performance Network (IPN).

This partnership will enable Schnucks customers to access thousands of new product offers through Ibotta's digital promotions platform.

The collaboration will also involve strategic R&D to enhance the grocery shopping experience, focusing on personalized offers and advanced digital solutions.

Ibotta aims to integrate its innovative technology with Schnucks' existing rewards program, providing greater value and savings for customers.

Digital offers will be available to Schnucks customers later this year.

Positive

• Schnucks joining the Ibotta Performance Network enhances customer access to thousands of new product offers.
• The partnership aims to develop next-generation grocery shopping experiences through strategic R&D.
• Collaboration focuses on personalized offers and advanced digital solutions to improve customer satisfaction.
• Integration with Schnucks Rewards program promises increased savings and value for customers.
• Ibotta's innovative technology is expected to drive customer engagement and loyalty.

Negative

• Potential costs associated with integrating Ibotta’s technology into Schnucks' existing systems.
• Risk of increased competition as other retailers may adopt similar digital promotion strategies.
• Dependence on successful R&D outcomes to achieve projected customer experience improvements.

Ibotta to make thousands of new product offers available to customers of one of the largest privately held supermarket chains in the US

DENVER, May 21, 2024 (GLOBE NEWSWIRE) -- Ibotta (NYSE: IBTA), a leading technology company providing digital promotions and performance marketing solutions, announced today that Schnuck Markets, Inc. has joined the Ibotta Performance Network (IPN), the first digital network that delivers promotions in a coordinated fashion across retailer platforms, large third-party publisher sites, and Ibotta’s leading direct-to-consumer properties. In addition to Ibotta providing customers access to exclusive product offers in Schnucks’ stores throughout the Midwest, a key component of the partnership will be strategic R&D with the goal of building the next-generation grocery shopping experience for consumers.

“Driven by Ibotta’s mission to make every purchase rewarding, we’re pleased to add Schnucks, one of the country’s most storied regional grocery brands, to the Ibotta Performance Network, to drive more value for their customers through personalized offers and rewards,” said Bryan Leach, CEO and founder of Ibotta. “Schnucks’ and Ibotta’s mutual track record of industry-leading innovation is a befitting foundation for our partnership to reimagine the grocery shopping experience of the future. Together, we’ll collaborate to develop a more personalized, premium shopping experience for Schnucks customers.”

The R&D component of the partnership will allow Ibotta and Schnucks to co-develop new customer experiences for a more dynamic grocery shopping journey. Potential areas of innovation include advanced digital offers in retail media, and a heightened focus on creating new and innovative touchpoints in-store.

“Schnucks is thrilled to partner with Ibotta, a leader in digital rewards, to expand savings for our customers through our Schnucks Rewards program,” said Tom Henry, Schnucks Chief Data Officer. “Through this partnership, Schnucks customers will have access to a wider range of digital coupons in our Schnucks Rewards program, creating more value for customers with every in-store or online shop. Together with Ibotta, Schnucks is committed to creating innovative retail solutions that will shape the future of grocery shopping.”

Digital offers from the IPN are set to become available to Schnucks customers later this year.

About Ibotta ("I bought a...")
Ibotta (NYSE: IBTA) is a leading performance marketing platform allowing brands to deliver digital promotions to over 200 million consumers through a network of publishers called the Ibotta Performance Network (IPN). The IPN allows marketers to influence what people buy, and where and how often they shop – all while paying only when their campaigns directly result in a sale. American shoppers have earned over $1.8 billion through the IPN since 2012. The largest tech IPO in history to come out of Colorado, Ibotta is headquartered in Denver, and is continually listed as a top place to work by The Denver Post and Inc. Magazine.

Contact

Corporate Communications
Hilary O’Byrne, hilary.obyrne@ibotta.com

Investor Relations
Shalin Patel, shalin.patel@ibotta.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ceaa1163-802e-451f-8bca-fa2cc7fe46b1

FAQ

What is the significance of Schnucks joining the Ibotta Performance Network?

Schnucks' inclusion in the Ibotta Performance Network allows customers to access thousands of new product offers and enhances their grocery shopping experience.

When will Schnucks customers start accessing digital offers from Ibotta?

Digital offers from the Ibotta Performance Network will become available to Schnucks customers later this year.

How will the partnership between Ibotta and Schnucks benefit customers?

The partnership aims to provide personalized offers, increased savings, and a premium shopping experience through innovative digital solutions.

What are the primary goals of the Ibotta and Schnucks R&D collaboration?

The R&D collaboration focuses on developing advanced digital offers and creating new touchpoints to enhance the grocery shopping journey.

How does the Ibotta partnership align with Schnucks' existing rewards program?

Ibotta's technology will integrate with the Schnucks Rewards program, offering a wider range of digital coupons and increased value for customers.