Posted on April 22, 2014, 11:25 AM
RetailMeNot signs strategic partnership agreement with U.S. mall owner General Growth Properties Inc.Austin, TX and Chicago, IL (April 21, 2014) – RetailMeNot, Inc., the world's largest digital coupon marketplace, today announced it reached a strategic partnership agreement with Chicago-based General Growth Properties, Inc. (NYSE: GGP), a real estate investment trust focused exclusively on owning, managing, leasing and developing best-in-class retail properties throughout the United States. GGP’s portfolio includes 120 high-quality malls in 40 states.
RetailMeNot will be the preferred digital coupon provider across GGP malls. GGP owns and manages some of the most popular and unique mall properties in the world, including Ala Moana Center (Honolulu, HI); Tysons Galleria (Washington, D.C.); Staten Island Mall and Bridgewater Commons (NJ/NY Metro Area); Glendale Galleria (Los Angeles, CA); and Water Tower Place (Chicago, IL). The company’s properties offer a full-scale shopping experience and serve as entertainment hot spots, offering movie theaters, restaurants, ice skating rinks and numerous family activities.
In addition to traditional marketing, the strategic partnership enables RetailMeNot to test new, in-mall marketing formats that will deliver timely and relevant offers, while helping mall retailers increase foot traffic and store sales. Additionally, RetailMeNot will begin testing beacon technology that can provide its mobile app users with even more dynamic, hyper-targeted offers.
“In 2013, RetailMeNot simultaneously supported consumers’ savings needs and retailers’ brick-and-mortar sales objectives through in-mall marketing during the holiday shopping season in numerous markets across the U.S. We know in-mall marketing helped RetailMeNot continue to build its brand awareness and introduce a larger segment of U.S. shoppers to RetailMeNot’s free coupon app for iPhone and Android users,” said Jill Balis, senior vice president, marketing, RetailMeNot, Inc. “Our strategic partnership with GGP will raise RetailMeNot’s profile year-round in premier shopping malls where deal seeking consumers are looking for ways to shop smart and save. We believe this partnership will also drive significant value for GGP’s tenant retailers who utilize RetailMeNot to increase foot traffic and in-store sales.”
By the end of 2013, RetailMeNot’s apps had been downloaded globally nearly 14 million times. Inside the United States, RetailMeNot app users receive localized offers when they are in the vicinity of more than 6,000 geo-fenced shopping locations. Additionally, millions of consumers subscribe to RetailMeNot’s deal alerts and newsletters that feature in-store offers for top retail stores.
A recent RetailMeNot commissioned study conducted by Forrester Consulting found a risk-adjusted return on investment (ROI) of 631 percent for a composite retailer using RetailMeNot’s In-Store solution over a three-year period. The full study is available at www.retailmenot.com/corp/gui/pdf/forresters_online.pdf.
About RetailMeNot, Inc.
RetailMeNot, Inc. (www.retailmenot.com/corp/) operates the world's largest digital coupon marketplace. The company enables consumers across the globe to find hundreds of thousands of digital coupons from retailers and brands. In 2013, RetailMeNot, Inc. experienced more than 560 million visits to its websites and estimates that $3.5 billion in paid retailer sales were attributable to consumer traffic from digital coupons in its marketplace. Its mobile apps have been downloaded nearly 14 million times. The RetailMeNot, Inc. portfolio includes www.RetailMeNot.com, the largest digital coupon marketplace in the United States; www.RetailMeNot.ca in Canada; www.VoucherCodes.co.uk, the largest digital coupon marketplace in the United Kingdom; www.Deals.com in Germany; www.Actiepagina.nl, a leading digital coupon site in the Netherlands; Bons-de-Reduction.com and www.Ma-Reduc.com, leading digital coupon sites in France; www.Poulpeo.com, a leading digital coupon site with cash back in France; and www.Deals2Buy.com, a leading discount offer site in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE." Investors interested in learning more about the company can visit: investor.retailmenot.com/.
General Growth Properties, Inc. is an S&P 500 company focused exclusively on owning, managing, leasing, and developing high-quality retail properties throughout the United States. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.