Fetch Rewards Surpasses $100 Billion in Actionable GMV Across US Retail Sales, Equivalent to Nation’s Seventh Largest Retailer
Fetch Rewards, America’s No. 1 Rewards App, is now equivalent to the nation’s seventh largest retailer for annualized gross merchandise value (GMV) flowing through the platform, surpassing the $100 billion mark. With 208% year-over-year growth of annualized GMV, Fetch is pacing to crack the top 3 retailer-equivalent mark within 12 months, joining Amazon and Walmart atop the list.
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Fetch Rewards is a new category of shopping app, separating from traditional shop-and-save apps through a new experience that brings a fun, social and rewarding experience every time a transaction is submitted. As reported by App Annie, Fetch Rewards has over 11 million monthly active users opening the app to scan receipts from any retailer and getting rewarded every time. This frictionless experience is in large part why Fetch has become the fastest growing and largest rewards app in less than 5 years’ time.
“Entering 2020, we were accepting receipts from grocery food retailers, including mass, club, convenience, grocery, drug and liquor stores,” explains Wes Schroll, Founder and CEO of Fetch Rewards. “When we dug into the types of receipts shoppers were trying to submit to Fetch, we were astounded at the growing velocity within other retail categories. So we opened it up so our users could submit any receipt. We’re now seeing substantial growth in all retail categories and expect that to become a much larger percent of our business and value to our shoppers.”
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To put the milestone into perspective, shoppers using the Fetch Rewards platform are submitting over 25 receipts per month on average, bringing their entire shopping life into view. Brands and retailers who partner with Fetch gain access to incent these shoppers and win a larger share of that household’s category spend.
“The power of the Fetch platform truly rests with the shoppers. They are creating tremendous value for brands and retailers, and they should be rewarded for it. Rather than splintering the rewards experience as has been done for ages, we are bringing it all into one place and giving brands and retailers the ability to engage in a more meaningful way,” said Schroll.
