What makes iKoynz™ a perfect fit for retailers?
iKoynz™ offers retailers a way to market directly to customers who have stored, ready-to-be used iKoynz™. Retailers can, for example, market a special promotion or discount to iKoynz™ users, to encourage their loyalty to come to their store and redeem their iKoynz™ for the retailer’s goods or services.
First, retailers know there is about $16.6 billion floating around in U.S. change -- pennies, nickels, dimes and quarters. They know this is a lot of money that could buy a variety of goods and services.
The problem for retailers is that much of that change is scattered around on car floor mats, stuffed in wallets, overflowing coin purses and thrown into various containers around the house.
iKoynz™ lets users easily collect and save their change from retail transactions, and as the savings grow, so do users’ ability to make larger purchases.
Simply, retailers want that money to be used to buy their goods and services.
Second, retailers want people to buy things at their store, whether the store is a place you go into or online.
With more people using iKoynz™, there is more potentially spendable value that retailers want to attract.
iKoynz™ retailers know customers can buy things at lots of places, so they spend enormous amounts of time, money, and energy marketing to try and get consumers to come to and be loyal to their store.
Retailers want loyal customers, and offering promotions and discounts for iKoynz™ users is a simple, straightforward way to help retailers generate loyalty.
The resulting benefit for the retailer is more sales. The resulting benefit for the iKoynz™ user is that their spare change pile just became useful and worth more than its face value.
Third, retailers want to know what their customers are buying, when they buy, and why they buy. They invest enormous resource into understanding their customers’ habits, and their competitors’ customers’ habits.
iKoynz™ offers a critical key to retailers’ search for understanding their customers -- data detailing cash customers’ buying habits.
When a customer purchases a product with cash, a retailer knows very little about the customer. The retailer really only knows what was purchased, when and where.
Retailers use iKoynz™ data to learn more about their cash customers’ buying habits and patterns, which is data that retailers have long been without. Knowing, for example, that cash customers buy certain goods at certain times helps the retailer to tailor marketing promotions, sales, and advertisements.