A couple weeks ago (Sept. 16), Quartz revealed the secret behind consumers' rapid uptake of Walmart's app in recent months.
As shown in the above graph, Walmart's app has grown faster than any retail app in the U.S., jumping from 4 million users to 14 million in August 2014. The reason for its climb? The launch of "Savings Catcher" - a comparison tool that lets customer scan their receipts to compare Walmart's prices to those of competitors.
Savings Catcher lets customers check if competitors' prices are lower than what they paid and if so, get an eGift card for the difference.
Most of us are familiar with Walmart's "Everyday Low Prices" slogan, which means the company doesn't promote sales per se. Savings Catcher complements the company's pricing strategy in that if a customer finds a competitor's price to be lower than what they paid, they can obtain an eGift card for the difference.
"With 22 million users as of June 2015, Walmart’s app is now the most popular among retailers after e-commerce heavyweights Amazon and eBay, according to an upcoming report from comScore," wrote Quartz's Shelly Banjo. "And at more than 400% year-over-year growth, it’s on pace to surpass eBay."
“Customers would come to the stores with the 15 flyers they look through every week to find the best prices on toilet paper,” Helen Vaid, vice president of customer experience at Walmart.com, told Quartz. “We thought, what if Walmart could take away that need to scour the market every time you walked into a store?"
Walmart identified what its loyal shoppers were already doing manually and automated it within its app.
Essentially, Walmart facilitated the price comparison process many of its customers were already undertaking, and in doing so increased the appeal of its app significantly - well, by 400% year-over-year, to be precise.
So the take-home message here? Figure out what your loyal shoppers are already doing manually (or in separate steps in-store and online) and automate it within your branded app.