This App Helps You Save...By Shopping?
In the wide universe of mobile applications nowadays, there's no shortage of shopping apps. Yet most of them drive consumers to make online purchases, instead of buying goods in a retail store.
The shopping app Shopkick, though, does the exact opposite: it rewards consumers just for being in a store.
"Just for being in the store, it already welcomes you and gives you points called 'Kicks,'" said Cyriac Roeding, CEO and co-founder of Shopkick, on CNBC's Squawk on the Street Thursday.
Basically, Shopkick allows consumers to earn rewards—or 'kicks' as the company calls it— when they shop at a retail store that is partnered with the company.
The app, which is available on Apple's iPhone and Android smartphones, checks the Shopkick user into the store's location automatically, allowing the consumer to earn "kicks," which can be used towards purchases.
While the streamlined rewards system is beneficial for the consumers, the feature retailers most value is Shopkick's ability to let consumers plan ahead before they go to the store, Roeding said.
"So what the stores really love is the idea of consumers preparing for their trip," Roeding said. "Looking at what is hot at the store or what are the latest offers, what are the new things that just came in."
Shopkick, the CEO added, combines convenience and savings. "With the Shopkick app you can do exactly that. You can sit on the couch and prepare for your trip, liking the things you find," he added.