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The world of retail has been in trouble for the last few years. In 2020, the COVID pandemic forced many businesses out of business or out of business. In 2022, record-high inflation poses new challenges for retailers. Of course, it wasn’t just stores that were affected. Shoppers are looking to cut costs wherever they can to combat price spikes caused by recent problems. But at least one popular retail chain has plans to help more cost-conscious consumers. Read below to learn more about the new partnership between Dollar General and Ibotta to help shoppers “stretch their budget.”
Read this: 5 warnings to shoppers from regular former dollar employees.
Inflation has eased from a 40-year high of 9.1% reached in June 2022. And shoppers are certainly feeling the heat. CNBC recently reported that as consumers pay more for groceries, they have less discretionary spending, resulting in holiday season sales well below industry expectations.
“It just shows that consumers remain cost-conscious.” Matt Shay, the chief executive of the National Retail Federation (NRF) told the press. “They are feeling it. They are noticing the pressure to manage their daily, weekly and monthly spending.”
Continued inflationary stress is pushing more shoppers to stores with guaranteed savings opportunities. Data tracking firm Placer.ai reports that discount retailers are seeing increased foot traffic across stores, according to PYMNTS.
Five Below saw the largest increase in store visits this quarter, with a 50% increase compared to the same quarter in 2019. But Dollar General and Family Dollar also saw a 20% increase in foot traffic, while Dollar Tree saw a 15.3% increase in shoppers. will visit
In its quarterly index report for Q4 2022, Placer.ai said, “The discount and dollar store sectors are poised for growth as consumers continue to seek ways to adjust their shopping habits in line with continued inflation. We appear to be well positioned to sustain visitor growth into 2023.”
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On January 19, Dollar General announced that it has partnered with Ibotta, an app that offers cash back rebates. Through this new partnership, Dollar General will be “the first retailer on the channel” to join his Ibotta Performance Network (IPN), according to a press release.
IPN is “the first digital network to enable the delivery of promotions in a coordinated manner across retailer platforms, large third-party publisher sites, and Ibotta’s major direct-to-consumer properties,” the release said. explains.
In a statement, Ibotta’s founder and CEO said: Brian Leach It said “partnering with like-minded brands” such as Dollar General is a priority for the company with its IPN network.
“Dollar General is deeply committed to creating maximum value for its customers through seamless, customized programs that help them save even more,” Leach said.
Dollar General shoppers can already start taking advantage of this collaboration. According to a press release, “Consumers can now receive cash back rewards on thousands of Dollar General items through Ibotta’s platform.” said they will be able to receive these cash back rewards directly from their app and website.
“We are excited to add innovative options to help our customers stretch their budgets.” Emily TaylorDollar General Executive Vice President and Chief Merchandising Officer said in a statement: “Ibotta’s Cash Back Rewards Program further complements our ongoing commitment to providing financial services and rewards to our customers in addition to our daily low prices.”
