Coupon,Consumer,Online shopping,Retail

Piggy's Automatic Coupons Can Help Your Wallet Gain Weight

January 24, 2017

By Elizabeth Balboa As more people do their shopping online, retailers have found themselves reinventing their sales processes to keep up with the likes of Amazon. And while online shopping has made it easier for consumers to compare pricing with an infinite number of sites, it can sometimes be hard to know if you’re getting the best deal. Piggy wants to help both of these groups. Through its automatic coupon service, Piggy wants to decrease cart abandonment for stores while helping consumers save more on their purchases. Benzinga caught up with co-founder John Anderson to talk about the digital coupon niche Piggy holds among business-to-consumer fintech companies. What’s the general concept of Piggy? You are shopping at Macys.com. You get into your cart and all of a sudden, we pop up and say, ‘Hey, we’ve got six coupon codes. Click to auto-add those coupon codes.’ Those coupon codes then cycle through Macy’s website and the applicable codes are applied to your cart. You get the savings right there. From the consumer perspective, now I do not have to go to another website and I do not have to spend X amount of time looking for a code someplace else. How did this idea come about? I originally started out with the desire to help PTAs [Parent Teacher Association] and other non-profits to fundraise. All the partners that funded the company had been involved in the affiliate marketing space before. The way affiliate marketing works, we send the user to a merchant site, like Walmart or Macy’s or Target.com, and they give us a percentage back of each sale. Being fathers of school-age children we thought, “What a great idea. You know, more and more parents are shopping online, if we can contribute a portion of that purchase back to the school or PTA…” Well, it was a great idea, but nobody else thought so, so it kind of died there. But we built the technology...

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