Shoppers can reap rewards with loyalty app
JAMES Lenehan realised that consumers were tired of carrying around old-fashioned plastic loyalty cards just to gain a couple of points from individual brand loyalty programmes. In response, the Dublin man launched Reep, which reads receipts automatically and rewards loyalty to lots of different brands, all under one roof. He tells Sarah McCabe about why shoppers should sign up.
"My company Win/Win has been involved with brand loyalty work for a long time, but two years ago we decided to branch out into mobile devices. Smartphone penetration was booming, at the same time that research showed people were tiring of having to carry multiple plastic loyalty cards.
"So we launched Reep. An app available for Android and iPhone devices, it collects loyalty points for lots of different brands under one roof. All users have to do is sign up and start collecting, by photographing their receipts and uploading. Our software reads the receipts automatically. It works for all grocery chains and several other retailers, and awards loyalty with cash.
"Once customers have earned €50 they can take the cash, or use it in any amount towards other products through our app and website.
"Coalition loyalty like this is relatively new to Ireland, especially through mobile devices. We've had a great take-up so far. We have 78 grocery brands signed up, including Kelloggs, Brennans and Heinz, and 22 other retailers, like H&M. Esso is our exclusive fuel partner; they award 1c per every litre of petrol purchased.
"The rewards provide very high returns for shoppers in some cases. Consumers can expect to earn €10 to €15 a week.
"Our revenue stream comes from these brands and retailers. They pay a participation and management fee, and fund the rewards. In return, we drive customers to them, and provide tailored reports detailing who is buying what.
"We now employ 10 staff and plan to grow this to 30 by Christmas. It's all been funded by the parent company until now, but we have just launched a round of funding with Enterprise Ireland and private investors. The idea is ripe for exporting; Ireland is just the beginning."