Targeting the student consumer market! Shopify and Student Beans reach a cooperation!

It is learned that according to foreign media reports, Shopify recently announced a partnership with the online coupon redemption platform Student Beans, which will provide students with exclusive coupons so that students can get discounts when purchasing some brands such as Disney, Amazon, Doordash, etc.

It is reported that through this cooperation, Shopify will provide merchants with Student Beans' single sign-on (SSO) technology to help merchants verify students' identities, and the single sign-on (SSO) technology will be integrated into merchants' online stores.

Additionally, Shopify merchants will be able to use Student Beans to set discount amounts and durations, and Shopify will provide merchants with a dashboard showing verification counts, revenue, and average order value.

Shopify claims that with Student Beans, students are five times more likely to convert into regular customers and are more likely to increase their online spending, with the average order value for students increasing by 17%.

It is learned that there are about 20 million students in the United States, and the student consumer market is worth about $303 billion, bringing about $595 billion in revenue to the U.S. economy each year. With the high inflation rate and the increase in the cost of living, young American consumers have begun to reduce their spending and look for discounts as much as possible when shopping.

According to a report by Student Beans, two-thirds (67%) of US students actively look for student discounts when shopping, and one in ten students will purchase from a new brand if there is a discount. In addition, almost all (92%) US students believe that brands that provide exclusive student deals care more about them and are therefore more likely to purchase.

The founder of Student Beans said: "For merchants, using SSO technology is more profitable and can greatly increase product conversion rates; for students, they can save money and buy more items, which is a win-win situation."

Editor ✎ Nicole/

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