SAN FRANCISCO, CA, June 09, 2013 (Press-News.org) Y Combinator funded Curebit announces the launch of Retail Referrals, promising to unify the gap between the offline and online world.
Retail Referrals, in partnership with Bonobos, is the world's first point of sales referral program. The product integrates physical stores and the website experience of Bonobos, the luxury men's apparel startup.
With Retail Referrals, upon a customer's check-out at a Bonobos store in NYC, a buyer is shown a page where they are asked if they'd like to share an offer with friends via email. If the person referred later makes a purchase at Bonobos, he or she will receive a discount and store credit is given to the original customer.
Retail Referrals is currently live in NY, Boston, Chicago, San Francisco and Bethesda.
Says Bonobos, "Curebit's referral system allows us to translate our existing customers' passion for Bonobos into new customer growth. The result is that many of our most loyal and valuable customers come from referrals. We are incredibly impressed by our success with Curebit."
Curebit has been working with Bonobos online since 2012, with 25% of the customers that Bonobos acquired in 2012 coming from Curebit's referral program.
Says Allan Grant, "Customer referrals are the missing link between offline and online retail. They allow physical stores to power the growth of a brand's online store."
With Retail Referrals, Curebit provides a way for retailers to band-together with the internet. This innovation is important, as it is no secret this is not a great time for most retailers. Best Buy, which lost $409 million during its fourth quarter in 2012, is not the only company that is struggling with the movement of sales to the internet.
This collaboration stands in contrast to the conflict that has been occurring. Last year the Wall Street Journal reported that Target was battling against showrooming practices, asking vendors to create new products that would be sold exclusively at Target.
Curebit has big plans for the future, and believes that the impact of Retail Referrals will be far reaching.
Says Allan, "Using brick and mortar stores to power online sales is the single largest untapped opportunity in retail today."
Curebit is a Y Combinator company that was founded in 2010 by Allan Grant, Nori Yoshida, and Jeff Yee. The company helps stores increase revenue through referrals by turning existing customers into marketers. The company is backed by Y Combinator and 500 Startups, among others, and it has raised $1.2M to date.
Curebit, helping stores grow. Learn more about CureBit at: http://www.curebit.com
About Curebit
Curebit is a Y Combinator company that was founded in 2010 by Allan Grant, Nori Yoshida, and Jeff Yee. The company helps stores increase revenue through referrals by turning existing customers into marketers. The company is backed by Y Combinator and 500 Startups, among others, and it has raised $1.2M to date. Curebit is headquartered in San Francisco, California.
Contact Information
Allan Grant, Co-Founder
Mobile: (415) 766-0766
Email: allan@curebit.com
Website: http://www.curebit.com
Curebit Launches Retail Referrals, Bridges Gap Between Offline & Online World
Through Bonobos partnership, first in-store point of sales referral program launches. Solution provides easy way for retailers to generate online sales through brick and mortar stores.
2013-06-09
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[Press-News.org] Curebit Launches Retail Referrals, Bridges Gap Between Offline & Online WorldThrough Bonobos partnership, first in-store point of sales referral program launches. Solution provides easy way for retailers to generate online sales through brick and mortar stores.