Walmart is preparing to launch a digital offers program in partnership with Ibotta and will join the reward platform's new media network.
Integrated within walmart.com and the Walmart mobile application, the program will offer hundreds of cash rebates on popular brands. Thanks to the unique platform integration, the rebates will be redeemed and cash will be provided directly to shoppers’ Walmart accounts, where it will be available for use on future Walmart purchases or for application toward anything from Walmart+ membership to grocery delivery fees. The partners also envision integration opportunities with Walmart’s broader financial services offerings.
Walmart had previously eschewed promotions and loyalty programs so as not to undermine its everyday low price strategy, but the timing was right for the retailer to evolve its position after expanding its customer proposition to include saving time in addition to money. The move also comes on the heels of a successful Thanksgiving program with Ibotta and manufacturer partners that provided one million shoppers with free holiday meals, which followed Walmart's move to begin allowing shoppers to get cashback via Ibotta for purchases made through its online grocery pickup and delivery services.
“We’re pleased to partner with Ibotta to bring unmatched digital offers to Walmart shoppers while still giving customers a consistent way to save,” Walmart U.S. executive vice president and chief customer officer Janey Whiteside said in the release. “The partnership is a win-win. We’re able to find new and exciting ways to help customers save even more with Walmart, all while propelling our business forward, driving loyalty and creating new ways for us to engage suppliers.”
Walmart will also be joining the Ibotta Performance Network (IPN), a digital media network that enables cash rebates to be delivered in a coordinated fashion across large third-party sites. Walmart customers will be presented with digital offers for relevant products while they are browsing social media channels, recipe sites and other third-party platforms, and customers can click to select an offer and seamlessly add it to their Walmart digital shopping cart for online or in-store purchasing.
“In expanding this important relationship, we are thrilled to bring the value of closed-loop cash rebates and the IPN to the world's largest retailer and all of its customers," said Bryan Leach, Ibotta founder and ceo. “Walmart has been an innovative leader in retail for six decades, and we are honored to work with them on this program and to be their exclusive third-party provider of digital item-level rebates on Walmart's platforms."