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Brand Loyalty

Case Study: Rewarding customers in Ulta Beauty stock, up-levels their loyalty and steals 25% of beauty market share from competitors

Bumped data shows that even in a fiercely loyal industry, stock rewards can have significant impact on spend and visit increases

Bumped — the tech company on a mission to create an ownership economy — has released data from their two-year pilot study showing that when Ulta customers were rewarded in ULTA stock every time they made a purchase, the brand increased their share of wallet among competitive beauty brands 25%.

Over a two-year data study, Bumped automatically rewarded users in fractional shares of Ulta stock (Ticker: ULTA) when they made a purchase with the company. On average, customers who became owners of Ulta transacted there about 73% more monthly, and increased their monthly spend by 67%.

Ulta Beauty, Inc. is the largest U.S beauty retailer—as seen in their recent earnings call, their growth (and the consumer trust that drives it) has continued even through the COVID-19 pandemic.

"There are few categories that see the intense, passionate consumer loyalty that Beauty does," says David Nelsen, CEO & Founder of Bumped. "When consumers already identify strongly with their beauty brand, we were amazed—and delighted— to see that ownership in the brand solidified and grew that loyalty."

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. Bumped managed the entirety of the pilot and results were not influenced by brand involvement.

The findings of the holistic Bumped pilot were researched and reported on by The Columbia School of Business, who released their independent study in February 2021.

About Bumped

Bumped is a tech company on a mission to create an ownership economy. The Bumped platform 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 and say hello at


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.


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