RadioShack Says Foursquare Users Spend 3.5 Times More
RadioShack customers who use the location-based mobile application Foursquare generally spend three and a half times more than non-Foursquare users, said Lee Applbaum, CMO of RadioShack, while speaking at the Ad Age Digital Conference. The retailer noted that Foursquare users spend more because they tend to purchase higher-priced items like wireless devices.
"They are more tech-savvy, they're younger and they have higher disposable income," explains Adrian Parker, social media director for RadioShack. "Those consumers typically stay connected and are obviously a great target for mobile devices. We've sold more than 72 million cell phones in the last 10 years. It only makes sense that we use those devices that we sell as a medium to communicate to consumers."
As a result of strong redemption rates and promising revenue, RadioShack is extending its promotional deal with Foursquare through June. The promotion was originally slated to end last week.
RadioShack is giving Foursquare users who "check in" to its 5,000-plus locations special discounts for doing so. Those checking in for the first time receive 20% off qualifying purchases, as do "mayors" (designated users who frequently check into a location). All other users who check in receive a 10% discount.