We’ve written plenty of times about Shopkick, an innovative geo-coupon system that has received funding from Kleiner Perkins, Greylock, SV Angel and others. Today, the company is revealing a number of impressive stats about its service.
Instead of checking in, as you would with a geo app like Foursquare or Gowalla, shopkick automatically recognizes when someone with the free Android or iPhone app on their phone walks into a store. Once a shopkick Signal is detected, the app delivers reward points called “kickbucks” to the user for walking into a retail store, trying on clothes, scanning a barcode and other actions. Kickbucks can then be redeemed across all partner stores for gift card rewards or for Facebook Credits. User can also receive special discounts on specific products at partners stores like Macy’s, Best Buy or Target.
Since the application’s launch in August 2010, Shopkick has seen a whopping 700 million product views, and the startup expects to pass 1 billion product views this year. There have been over 2 million physical walk-ins to stores (which are measured from the shopkick signal device installed at the store). The device is installed at 3000 large stores and 250 malls now.
Shopkick users open the apps on average on 14 days per month (often several times a day). Each day they open the app, they look at 16 stores on average. That means, per month they look at over 200 stores via the app on average. And users have scanned 7 million products over the past year, which is up from 3 million in February.
And application now has 2.3 million U.S. users. It took 7 months to reach its first 1 million users and only 4 months to reach its second million users. National retail partners in the loyalty program include Target, Best Buy, Macy’s, Crate & Barrel, American Eagle, Sports Authority, Toys R Us, Simon Malls and others, and 20 brands (P&G, Unilever, Kraft, Colgate, Clorox, Disney, HP, Intel). One of the retailers is estimating $50 million in measurable incremental revenue as a result of the shopkick mobile app.
Co-founder Cyriac Roeding says that shopping and commerce is where the money flows in location-based services. The advantage of a shopping app, he explains, is that each shopping app user is worth much more than a social app user, because they are real shoppers who use the app because they want to spend money on shopping. Each activity is monetizable, including walk-ins to stores, engagements with products at the store (scans) or at home (app uses).
And with all of these national deals (and more to tome) the startup could be on its way to make meaningful revenue. Shopkick recently brought on Chief Revenue Officer Doug Galen.
shopkick was founded in June 2009 by Cyriac Roeding, Jeff Sellinger, Aaron Emigh, and is funded by Kleiner Perkins’ iFund, Greylock Partners and Reid Hoffman, founder of LinkedIn, and investor in Facebook and Zynga, and Ron Conway. shopkick bridges the worlds of mobile and physical retail. In August 2010, shopkick launched the first mobile application that hands consumers rewards and exclusive deals at shopkick’s national retail partners simply for walking into thousands of stores and malls. shopkick created...