Case Study: Kroger Customers Rewarded in Kroger Stock Make an Additional Grocery Run, Spend Almost $75 More Monthly
Data study by Bumped shows that when rewarded in Kroger stock for spending with the Kroger Family of Brands, customers start spending less at competitive grocers, and more at the brand they own.
Bumped—the fintech company on a mission to create an ownership economy through fractional stock rewards—released data from their two-year pilot study that indicates making grocery customers into owners can increase visits and spend.
Bumped users who were rewarded in fractional shares of stock for their spending with the Kroger Family of Brands like Fred Meyer, Food 4 Less, Harris Teeter, King Soopers, QFC, and Ralphs — became owners in the nationwide grocery brand. They then shopped with their Kroger store an average 31 percent more often, and spent an additional 32 percent monthly. That means customers are spending $73.94 more at their Kroger store each month once they become owners.
"In a category where convenience matters, creating an owner has resulted in the consumers' willingness to go the extra mile," says David Nelsen, CEO and Founder of Bumped. "An additional trip every month among the entire segment of Kroger owners shows that stock rewards are powerful enough to get your customers to drive past your competitor and back to you."
The Bumped pilot ran for two years and rewarded over 13,000 US consumers in fractional stock rewards when they spent at more than 80 brands. Users chose their favorite brand in each category to receive stock rewards from.
The findings of the holistic Bumped pilot were researched and reported on by The Columbia School of Business, who released their independent study earlier this year.
Interested in learning how Bumped can fit into your loyalty and rewards program? send us an email at firstname.lastname@example.org.
Bumped is a tech company on a mission to create an ownership economy. The Bumped app gives consumers the power to turn their everyday spending into free stock ownership, and their suite of tools helps businesses reward their customers in fractional shares of stock. Bumped believes that we all create the economy together, and we all should have the opportunity to benefit from it. Learn more at Bumped.com.
The Bumped app and website are operated by Bumped, Inc. Brokerage services are provided by Bumped Financial LLC, member FINRA /SIPC . More about Bumped Financial LLC on FINRA’s FINRA BrokerCheck website.
Investing in securities involves risk, including possible loss of principal: Not FDIC Insured • No Bank Guarantee • May Lose Value. Nothing here should be construed as an offer to purchase or sell securities.