Product Overview of RetailMeNot
RetailMeNot is a comprehensive shopping platform designed to help consumers save money across a wide range of categories, including food, fashion, beauty, travel, and more. Founded in 2006, the platform has evolved from a simple online coupon company to the largest digital coupon marketplace in the world.
What RetailMeNot Does
RetailMeNot connects consumers with over 70,000 international brands, offering a variety of savings options such as free promo codes, in-store coupons, cash back deals, and discounted gift cards. This platform aims to simplify the shopping experience by aggregating deals from multiple retailers, making it easier for users to find and utilize savings opportunities.
Key Features and Functionality
Personalized Savings
- RetailMeNot allows users to create an account and favorite specific stores and restaurants, enabling personalized deal alerts and recommendations. The platform uses location services to provide users with relevant coupon alerts when they are out shopping.
Diverse Savings Options
- The platform offers a broad spectrum of savings, including online promo codes, in-store coupons, and cash back deals. Users can find discounts on various products and services from top retailers like Ulta Beauty, Papa John’s, HP, Express, Best Buy, and more.
User-Friendly Interface
- RetailMeNot features an intuitive design accessible through its website, mobile app (available on iTunes and Google Play), and browser extension. The app automatically combines eligible promo codes, coupons, and cash back offers with just one click, streamlining the savings process.
Cash Back and Rewards
- Users can earn cash back on their purchases by using affiliate links provided by RetailMeNot. There is no minimum cash-out requirement, although automatic transfers to PayPal occur when the user reaches $500 in approved rewards. For other amounts, users can manually transfer their earnings.
Social Engagement and Community
- The platform fosters a community where users can rate, review, and share their favorite deals. This social aspect includes user-generated content, chat rooms, and private Facebook groups, enhancing the overall user experience and providing valuable insights to other shoppers.
Advanced Technologies
- RetailMeNot has integrated advanced technologies such as near-field beacon technology to offer highly personalized deals, even down to the specific store aisle a user is in. This enhances the omnichannel shopping experience, allowing retailers to engage customers more effectively both online and in-store.
Alerts and Notifications
- Users can set up deal alerts to receive email notifications when their favorite stores add new promotions. The platform also offers a location-based feature that sends coupon alerts when users are near participating stores.
Business Model and Revenue
RetailMeNot operates on a performance-based business model, earning commissions from retailers for every purchase made through their platform. Additionally, the company generates revenue through advertising, where retailers pay to have their offers featured prominently on the site.
In summary, RetailMeNot is a robust shopping platform that offers a wide array of savings options, personalized recommendations, and a user-friendly interface, making it an essential tool for consumers looking to save money and time while shopping.