As part of its new agreement with Ibotta, Walmart will join the Ibotta Performance Network, the first digital network that enables cash rebates to be delivered in a coordinated fashion across large third-party sites.
Walmart and free-to-use cash-back rewards platform Ibotta have come to a strategic agreement to create and launch a new digital offers program on Walmart.com and the Walmart app. This new program will enable Walmart customers to access hundreds of cash rebates on popular products.
An expansion of the relationship that Walmart and Ibotta forged in 2018, the new program will permit shoppers to earn cash rebates on top of the savings they get through Walmart’s everyday low prices. Uniquely, rebates will be redeemed and cash provided directly to customers’ Walmart accounts to be used for future Walmart purchases, applied toward a Walmart+ membership, used for grocery delivery and more. Walmart and Ibotta also foresee integration opportunities with the retailer’s broader financial services offerings.
“We’re pleased to partner with Ibotta to bring unmatched digital offers to Walmart shoppers while still giving customers a consistent way to save,” noted Janey Whiteside, EVP and chief customer officer, Walmart U.S. “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.”
As an additional part of the agreement, Walmart will join the Ibotta Performance Network (IPN), the first digital network that enables cash rebates to be delivered in a coordinated fashion across large third-party sites such as social media networks, recipe sites and other platforms. Walmart customers on those platforms will receive digital offers for relevant products, which they can choose and seamlessly add to their Walmart digital cart for online or in-store shopping.
“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, founder and CEO of Denver-based Ibotta. “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 Platforms. Walmart’s participation in the IPN will further enhance our ability to drive significant traffic and sales to their stores and digital properties.”
Bentonville, Ark.-based Walmart operates about 10,500 stores and clubs under 48 banners in 24 countries, and e-commerce websites, employing 2.2 million-plus associates worldwide. Walmart U.S. is No. 1 on The PG100, Progressive Grocer’s 2021 list of the top food and consumables retailers in North America, while Walmart-owned Sam’s Club ranks No. 9 on the list.