RevTrax and the Offer Management Platform (OMP), provider to hundreds of multinational CPG, retail, travel, financial services and automotive brands, launched a collaboration with The Coupon Bureau to drive mobile coupon innovation for CPG brands and retailers. Additionally, RevTrax has joined The Coupon Bureau’s Innovation Council, a select group of industry experts working to accelerate adoption of universal digital coupons.
The Coupon Bureau, a non-profit, industry managed coupon data exchange technology platform is working to create a universal digital coupon for the retail industry. This collaboration will empower hundreds of leading CPG brands that run offers via the RevTrax OMP to leverage a standardized and secure mechanism for coupon distribution that utilizes a singular centralized database of offers, which can be used across paper, mobile, or online commerce. This will greatly expand the acceptance of digital coupons and make it easier for consumers to activate offers from new places (i.e. at-shelf) and redeem offers from their favorite brands across retailers nationwide. For CPG brands, this collaboration mitigates the risk of fraud and over redemption, while generating transaction-level data that ties each consumer engagement to a retail redemption in real-time.
“Consumers and clients have been asking for national mobile coupon acceptance for years and we are ecstatic that our work with TCB will make universal digital offers a reality. The consumer will be able to clip secure, single-use manufacturer offers to a barcode that can be scanned off of a smartphone with acceptance across retailers,” said Seth Sarelson, co-founder and chief operating officer at RevTrax. “Brands will be in a position to run higher-value offers without fear and quickly understand which tactics across paid and owned channels are working at an individual click level by using the RevTrax OMP in conjunction with TCB.”
RevTrax, based in New York, will be among the first to provide leading CPG brands with access to pilot opportunities with TCB. This effort will work to accelerate adoption and help achieve scale quickly.
The move to a new universal digital coupon standard will see the phasing out of the existing legacy coupon type AI (8110) based on barcodes, once a majority of retailers are compatible with the AI (8112) type format. The sharp rise in touchless commerce since the COVID-19 outbreak is expected to hasten retailers’ plans to become 8112 compatible. The Coupon Bureau is projected to be integrated with upwards of 70 percent of grocery retailers in 2021.
“RevTrax is an industry leader in couponing and offer management. Our ongoing collaboration with RevTrax is important to ensure that Universal Digital Coupons get to consumers as quickly as possible with as much support as possible from key brands,” said Brandi Johnson, CEO of The Coupon Bureau.