Target and Toys R Us posted overall sales declines during the holidays.
A recent study by the global consulting firm Booz & Company estimated that $1 billion in goods was sold through social media in the United States in 2011.
Austin, TX, November 27, 2012 — RetailMeNot.com (www.retailmenot.com), the largest online coupon site in the United States, today announced the launch of RetailMeNot on Facebook (www.facebook.com/retailmenot), a new coupon experience that provides users with personalized and social savings opportunities. To learn more, an instructional video is available at www.retailmenot.com/social.
A recent study by the global consulting firm Booz & Company estimated that $1 billion in goods was sold through social media in the United States in 2011. That figure is expected to reach $14 billion by 2015. RetailMeNot on Facebook was designed to help retailers reach RetailMeNot’s 2.2 million fans and their connections on Facebook with relevant deals and offers on products and services. A team of RetailMeNot merchandisers will work to provide consumers with access to retailers’ best deals and offers as they become available.
“The next frontiers in retail, especially within the coupon industry, are within mobile commerce and social shopping. The company that cracks the code on how to make both mobile and social media truly transactional platforms for merchants will win big in retail,” said Cotter Cunningham, the CEO and founder of WhaleShark Media, Inc., the operator of RetailMeNot. “While still early, we believe that we are on the right path to helping RetailMeNot’s more than 2 million Facebook fans save money when using our new social shopping platform.”
RetailMeNot on Facebook includes the following features:
- Browse and search coupons and offers from top stores without having to leave the Facebook environment with redemption similar to the website experience on RetailMeNot.com
- Consumers who choose to not authorize the RetailMeNot on Facebook app can still redeem coupons that they see their friends using
- App authorization unlocks the ability to personalize a consumer’s specific coupon feed and share savings opportunities with friends
- Coupon management functionality includes saving coupons for later and receiving alerts when those coupons are about to expire
- On/off switch enables private browsing and shopping vs. automatic sharing of coupons to help friends save
- An increase in the personalization of the coupon feed is possible by identifying favorite stores, with suggested new favorites based on “likes” by Facebook friends
“We continue to be bullish in our view that the growth of commerce through Facebook is a channel worth investing in long term as we work to help retailers reach motivated consumers that want to buy their products and services,” said Jag Bath, senior vice president of product, WhaleShark Media, Inc., the operator of RetailMeNot. “This innovation is another step in developing a more personalized coupon offering for consumers that will help them save money on the things they want, need and buy every day.”
Consumers can learn more by visiting www.retailmenot/social or by visiting RetailMeNot’s Facebook page (www.facebook.com/retailmenot) and clicking on the “RetailMeNot Coupons App” icon.
RetailMeNot.com (www.retailmenot.com) is the leading consumer destination for collaborative online coupon, deal and promotional code hunting and sharing. Our mission is to help consumers save money and enjoy a hassle-free discount shopping experience. Since November 2006, our users have shared hundreds of thousands of deals and offers from retailers from across the globe. Online coupons are rated and ranked by users, ensuring that quality deals rise to the top and expired coupons drop down the list. RetailMeNot.com is operated by WhaleShark Media, Inc., the world's leading marketplace for online coupons and deals.
Shopping on the go? Download the RetailMeNot Coupons app for iPhone and Android phones to access Hot Deals, browse top coupons, popular stores and categories and get thousands of online and in-store coupons to shop when you want, where you want. Make sure to "like" RetailMeNot.com on Facebook, follow the company via Twitter @retailmenot and add us on Google+.
About WhaleShark Media, Inc.
WhaleShark Media, Inc. (www.whalesharkmedia.com) is the world's leading marketplace for online coupons and deals. The company's websites enable consumers seeking to save money to find hundreds of thousands of offers from retailers across the globe. WhaleShark Media experiences more than 400 million consumer visits to its sites every year. The WhaleShark Media portfolio of coupon and deal websites includes www.RetailMeNot.com, the largest online coupon site in the United States; www.VoucherCodes.co.uk, the largest online coupon site in the United Kingdom; www.Deals.com in Germany; web.Bons-de-Reduction.com and www.Poulpeo.com in France; www.Deals2Buy.com; www.CouponSeven.com; and www.CouponShare.com. WhaleShark Media is a fast-growing, profitable company funded by venture capital firms Austin Ventures, Norwest Venture Partners, Adams Street Partners, Google Ventures, J.P. Morgan Asset Management and Institutional Venture Partners (IVP).