In the US e-commerce market, no player has claimed brand leadership as the most trusted coupon provider for consumers. Somewhat surprisingly, while Honey is the most widely recognized brand, it has achieved only 5% market share of e-commerce consumers.
<aside> <img src="/icons/square_gray.svg" alt="/icons/square_gray.svg" width="40px" /> Our thesis is that no company has built a coupon service with a true focus on user experience and customer needs. Customers feel that existing tools are unreliable, often fail to find working coupons, and ultimately serve as funnels to cash-back programs.
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This leaves a gap in the market for a truly user-focused coupon service that focuses on what users actually want in a coupon product. Namely, more coupons that actually work across all stores, simplicity, speed, privacy, and reliability. Secondarily, personalization, notifications, price comparison, a simple and universal cash-back program, a better mobile coupon experience are also desired features based on our research.
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| Competition | SimplyCodes |
|---|---|
| Competing products cover a maximum of 30,000 stores, emphasizing affiliate partners and major retailers. | SimplyCodes covers 400,000+ stores, utilizing AI and crowdsourcing to ensure coverage and accuracy. We cover all store categories and types, including newer and niche stores. |
| Competing products pay cash back for a limited set of stores (affiliated partners only, between 5,000 to 30,000 stores), sometimes with complex exclusions. Customers complain about missed reward payments and slow customer service. | SimplyCodes pays universal rewards. Every single checkout at any store earns rewards without exception (over 400,000 stores and counting). We keep it simple. |
| Competing brands lack compelling mobile app experiences that solve key user pain points. Consumers have yet to widely adopt a coupon app as their starting point for mobile shopping. | SimplyCodes offers the industry’s first truly personalized mobile coupon shopping experience, learning your preferences and offering targeted recommendations that users love. |
| Competing products are uni-directional, meaning the coupons are curated by the company and provided to customers. Customers only shop on these services. | SimplyCodes is bi-directional, meaning our customers share the content that appears on our app. SimplyCodes members earn rewards, perks, and status for helping other shoppers save. |