Fetch to Eclipse $152 Billion in Annual Gross Merchandise Value in 2023, Equivalent to Nation’s Third-Largest Retailer
By Team Fetch
April 13, 2023
Fetch, America’s No. 1 rewards app and leading consumer-engagement platform, today announced that it has surpassed visibility into $152 billion* in annual gross merchandise value (GMV) across US retail sales, making it equivalent to the nation’s third-largest and fastest-growing retailer. With this milestone, Fetch is setting a new standard for consumer engagement platforms by enabling brands to maintain performance marketing rigor for all physical world purchases.
Fetch partners with leading CPG, restaurant and retail brands to offer consumers an easy way to earn free rewards whenever they purchase their favorite brands and snap their receipts. Fetch users submit about 11 million receipts each day, and the app has more daily engagement than apps like DoorDash, Starbucks and Instacart.
Fetch first surpassed $100 billion in GMV in late 2021 and at that time was equivalent to the nation’s seventh-largest retailer. This constant flow of real-time purchase information – which includes receipts from both physical stores and e-commerce – is the foundation of Fetch’s revolutionary adtech offerings.
“Fetch isn’t just a rewards app — it’s a new kind of media channel powered by our unprecedented sightline into purchase behavior and our unique ability to help brands activate high-intent consumers,” said Fetch CEO and Founder Wes Schroll. “Being able to say we’re capturing more sales data than all but Amazon and Walmart means we’re doing a lot of things right for both brands and consumers. The mutually beneficial model fuels the flywheel of both stakeholder groups continuing to engage at record-high levels.”
Purchase history from receipts is among the best indicators of future purchase intent, providing insight into a customer’s preferences, spending behaviors, and future buying decisions. By leveraging this information, Fetch partner brands can create targeted, intent-based segments for on-platform marketing campaigns and product offers that are successful in shifting a consumers’ buying behavior. And because receipts are submitted and verified in real time, brand partners can track performance, make adjustments as needed, and get Verified Incremental Return (VIR) on ad spend.
This milestone comes on the heels of Fetch announcing a number of key developments that are driving the business forward -– the hiring of new Chief Operating Officer Meredith Guerriero, a seasoned adtech executive who built solutions for Meta, Google and Pinterest; the unveiling of Fetch’s new, world-leading receipt scanning technology; and the introduction of VIR, a new proprietary marketing measurement methodology that allows Fetch partner brands to precisely track and optimize campaign performance in real time.
“All of these moves put Fetch head-and-shoulders above competitors at a time when other adtech platforms are losing signal and brands are looking for solutions,” said Birk Cooper, Chief Marketing Officer at Fetch. “The modern CMO needs to invest in tools that are proven to activate consumers and can connect advertising spend directly to key business outcomes.”
*Based on receipt volume from the last 4 weeks
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