While the program is modeled after other daily offer sites, SnapFinds is unique, says SnapRetail Director of Merchandising Traci Tarquinio.
“Our vision is about exclusive, unique product offerings, not as much about deep discounts,” Tarquinio says. “Also, we want to include the retailer in the daily deal idea that’s exploding right now, which allows them to compete with bigger vendors and flash sale sites.”
SnapRetail works with vendors to negotiate a series of offers, lasting anywhere from one to three days, and then retailers choose which offers to participate in, regardless of whether they carry that particular vendor or product.
“The retailers don’t have to carry that product in store, so there’s no inventory investment or risk,” Tarquinio says. “This also allows retailers to test new products or vendors without purchasing inventory.”
SnapRetail then builds a personalized deal page for the retailer at no cost and contacts the retailer’s customer list. The customers then purchase the product, the vendors ship it to the store and the customers come in to pick it up, helping drive customer traffic to the store. The program is free to use for retailers and they earn a commission off the sales.
The program had a soft launch over the holidays with a group of 300 retailers, and Tarquinio says the overall response has been positive.
“Retailers had great response to these offers. One retailer said her sales increased 30 percent thanks to the program,” Tarquinio says. “Vendors are also thrilled because it’s a lead generator for them as well, since they’re getting new retailer leads.”
So far, the majority of SnapFinds vendors have been on the gift side, but Tarquinio says she is hoping to expand.
“Currently we’re working with gift vendors, but we’re looking at getting more into the home décor side and possibly some accessories lighting,” Tarquinio says. “We also have some home accent vendors that are great for lighting retailers looking to expand into that category.”
For more information on SnapFinds, check out the program’s website.