Transitions “Cash Back” to “Cash Forward” as the new standard, working with leading brands.
Acorns, the country’s fastest-growing micro-investing app, announces the launch of its Found Money program featuring participating retailers Hotel Tonight, JackThreads, Jet.com, 1-800-Flowers.com and Dollar Shave Club. This innovative new program allows brands to automatically invest in their customers’ futures as a reward for shopping with them, shifting the paradigm from cash back to cash forward. When customers spend money with these brands using the same cards that they have linked to Acorns, the companies will make an investment in their Acorns accounts.
“We know our guys are going to love the Found Money program,” said Mark Bufalini, Director of Marketing for JackThreads. “The majority of our audience is millennial guys who watch their money carefully. This partnership with Acorns allows us to reward them for everyday purchases by investing in their future and really goes a long way in strengthening our relationship with our customers.”
Found Money is a win-win proposition. Acorns’ customers — 75 percent of whom are millennials — are building wealth with each found dollar. Participating brands are attracting and engaging millennials in a meaningful and sustainable way. “While our customers enjoy living in the now, they’re also smart and forward thinking,” said Sam Shank, CEO and Co-Founder of Hotel Tonight.
“Cash Forward sets a new standard for customer rewards,” said Tom Hartnett, President of 1-800-Flowers.com. “Bringing a smile to someone’s day by sending them flowers has long made our customers feel good about their purchase. Now they’ll be even more excited about it, knowing that we’re investing in their Acorns account each time they shop with us.”
Brands collaborating with the Found Money program will have a continuous presence in customers’ Acorns accounts with their investments clearly highlighted within the app experience. More merchants will be added in the coming months, providing even more opportunities for Acorns investors to build wealth in the background of their lives.
“Loyalty programs have been the same for eons,” said Noah Kerner, Acorns CEO. “Everybody’s doing cash back. This generation wants cash forward. They want brands that take a vested interest in them. What better way to do that than to invest in their futures?“