The location based services leader Foursquare has teamed up with American Express to offer Groupon-like discounts to users who check-in at participating retailers, such as $10 for the price of $5. In effect, the hope is that this type of real-life connectivity will draw more interest from retailers looking to increase customer engagement and encourage trips to their locations by leveraging LBS.
Early feedback on the benefits and functionality appears very positive, particularly from consumers. The potential applications for this type of LBS-payment duality are virtually limitless, and could be particularly interesting for grocery retailers looking to drive increases in customer traffic and encourage consumers to explore new areas of their store. Imagine a grocer who offered a similar promotion where shoppers could earn $5 in their personalized digital wallet, to be spent anytime they chose, for checking in at their location and then scanning the barcode of a certain product or group of products. With Accelitec software much of this is possible today, and could be a very powerful way for brands and retailers to cooperate in the launches of new products, while simultaneously rewarding their customers and driving loyalty to the brands and retailers alike.