Distributor United Natural Foods Inc. (UNFI) is helping grocery retailers monetize shoppers’ savings via a partnership with blockchain-based digital coupon platform CoupDog.
CoupDog’s solution integrates a secure, scalable distributed ledger with popular mobile wallets such as Apple Pay and Google Wallet, as well as Retailer Load2Card platforms. It also fully supports the new 8112 Universal Digital Coupon (UDC) format, which enables customers to redeem coupons from mobile phones instead of having to print or cut out paper coupons.
In announcing the partnership yesterday, Providence, RI-based UNFI said CoupDog gives its more than 30,000 retail customers access to an easy-to-use, trusted digital coupon platform that can drive higher participation in manufacturer-funded coupon redemption. UNFI noted that by leveraging its supplier network, it can also improve supplier marketing and merchandising and improve overall deals and offers for consumers.
“Retailers depend on UNFI to help them discover what’s next, introduce them to new opportunities to drive growth and efficiency, and deliver insights and expertise that help them succeed in the marketplace. To that end, we are excited to work with CoupDog to unleash the latest in digital technology to redefine grocery coupons,” UNFI President Chris Testa said in a statement. “Our focus is on solutions that empower retailers to grow and thrive while improving the customer experience for customers.”
Historically, retailers have had to balance the savings, promotional and loyalty benefits of coupons with concerns about fraud. Toronto-based CoupDoug said its platform addresses that by leveraging blockchain, a distributed ledger technology that consists of an expanding list of digital records — called blocks — that are immutable and securely linked. On the consumer side, this means an easier, hassle-free way to discover and redeem digital coupons from national, regional and emerging CPG companies.
“These technologically advanced coupons not only provide a more reliable and secure transaction, but they are also structured to reduce costs, improve cash flow, increase customer loyalty and increase profits for retailers,” according to Testa.
CoupDog noted that digital coupons from the platform seamlessly integrate with retailers’ point-of-sale, e-commerce and marketing solutions. The technology company also said it manages coupon acceptance, validation and redemption – without the need for additional labor from retailers – and the solution integrates with UNFI’s current settlement service for paper coupons, speeding up payments to retailers.
“We are very excited to be working with UNFI to empower independent merchants to deliver a modern, simple, easy-to-use digital coupon platform,” said Rob Balfour, CEO of CoupDog. “We are proud to provide these retailers with best-in-class advertising tools, enabling them to deliver compelling promotions and significant cost savings to their customers.”
North America’s largest publicly traded grocery distributor, UNFI operates 56 distribution centers and supplies more than 30,000 retailers in the United States and Canada, including health food stores, independent retailers, conventional supermarket chains, e-commerce retailers and food suppliers.
