Barclaycard has partnered with new technology company Flubit to bring to market a new type of retail offering which it claims will benefit both consumers and e-tailers.
The new proposition being developed (consumer launch expected in Q4 2014) is an online shopping platform that creates private offers for consumers on products that they are ready to buy.
When a customer posts a link to an item they want to buy into the bespoke offers website, the platform will automatically work with the registered merchants to seek to find a better deal. Consumers find savings on items they want to purchase and merchants are able to reach consumers at the point they are about to purchase with private, time-limited personal offers. This enables them to realise higher conversion rates without having to offer open market discounts or sacrifice margin, marketing budget, or commission.
Flubit was founded in 2012 by Bertie Stephens and Adel Louertatani and already has hundreds of retailers signed up.
To mark the impending consumer launch, Flubit is waiving the normal £500 sign-up fee for retailers. Interested online retailers can find out more by going to www.weflubit.com
David Herrick, managing director of Barclaycard’s Digital Marketplace, said: “We were immediately impressed with the potential of Flubit and the close affinity it has with our own service bespoke offers, which launched last May.
“Bespoke offers already provides customers with relevant, tailored offerings but our partnership with Flubit will allow consumers to get private, discounted prices on the things they are looking to buy. As for e-tailers, they can secure the purchase by offering a bespoke price (in private) without the need to offer open market discounts. With access to 1 million active users (and growing), this is a huge opportunity for online and independent retailers to generate leads and sales.”