Ibotta and Instacart to Deliver More Savings for Customers
Ibotta, a provider of digital promotions and performance marketing solutions for CPG brands, and grocery technology company Instacart have formed a strategic partnership to provide Instacart customers with access to Ibotta’s catalog of digital coupons. As part of the Ibotta Performance Network (IPN), Instacart will aim to deliver a greater number of timely and relevant coupons to its consumers, helping them save money on their everyday purchases.
Ibotta will now be Instacart's preferred third-party coupon provider across all eligible categories of items on the e-commerce provider’s mobile app and website. For CPG brands, the collaboration provides a better opportunity to reach consumers across Instacart’s marketplace of more than 1,500 retail banners with a footprint of 85,000-plus stores in North America. Further, CPG brands can continue to employ Instacart’s retail media network to spur product discovery and incremental sales by engaging with consumers at the point of purchase.
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“We are excited to enter into this strategic partnership with Instacart, which represents the first grocery technology company to join the Ibotta Performance Network,” noted Bryan Leach, founder and CEO of Denver-based company. “The addition of Instacart will allow our 2,400 CPG brand partners to reach millions of additional consumers with targeted promotions on Instacart’s app and website, all while benefiting from our network’s unprecedented real-time measurement capabilities.”
“Instacart is committed to helping consumers find more value, and today’s announcement underscores our goal of making online grocery shopping accessible to all,” said Chris Rogers, chief business officer of San Francisco-based Instacart. “Our partnership with Ibotta is designed to benefit both consumers, by providing valuable savings, and CPG brands, by continuing to drive real business impact and consumer engagement. We work with more than 6,000 CPG brands, and we believe Ibotta will help us quickly scale our CPG-funded promotions business.”
The U.S. grocery industry is projected to grow 5.6% to $1.5 trillion this year, according to a report from New York-based data firm Coresight Research. At the same time, nearly twice as many Americans use digital coupons rather than paper coupons from a circular when shopping for groceries, a recent survey from Providence, R.I.-based United Natural Foods Inc. found.
Ibotta-provided offers will go live across Instacart’s platform later this year.
