Denver-based SoRewarding, a social network that lets consumers create and request their own deals, launches Thursday, April 26 by filling its first consumer deal request with member merchant Whole Foods Market. Turning the world of group deal sites on its head, SoRewarding.com is a conduit for the consumer to negotiate the offer they want directly with the merchant they choose, without any pre-negotiated terms or third party interference.
Amy Watkins of Denver requested the Whole Foods deal, and was thrilled to hear it had been accepted. “I can’t believe Whole Foods accepted my deal request for a $20 gift card for just $10! As a mom, I’m always looking for ways to save money while giving my family the best. SoRewarding.com and Whole Foods just made that a lot easier this month,” said Watkins.
“Driving donations to non-profits in our communities via SoRewarding will have a major impact on groups who truly make a difference in the lives of others," says Heather Larrabee, Associate Marketing Coordinator for the Rocky Mountain Region of Whole Foods Market. "We are thrilled to participate in this inaugural deal and are excited about this revolutionary new model.”
In celebration of filling SoRewarding’s first consumer deal request, Whole Foods Market is extending the deal to the first 500 SoRewarding members who purchase it.
SoRewarding’s proprietary Consumer Driven Deals (CDD) feature is simple and easy to use, connecting consumers directly to merchants in a social networking setting. To participate, both merchants and consumers simply request an invitation via the SoRewarding homepage, and upon receipt, create their unique, free profile page. Members looking for a great deal just need to gather a group of 10 or more friends or buyers and submit their deal request to the merchant via their SoRewarding profile page or smartphone app. Each time an offer is purchased, each individual buyer can select a participating SoRewarding non-profit organization to receive a cash donation.
Once a merchant receives an offer request, they have 24-hours to accept, reject or counter-offer the request, which can be done from the SoRewarding dashboard, or from a smartphone. The merchant has the power to control all terms and conditions of the offer with the click of a button.
In addition to benefiting consumers and non-profits, SoRewarding stands alone in benefitting the merchant as well. There are no fees to become a member, and merchants who sign up and enable their Consumer Driven Deals in the first month (through May 25, 2012), will retain 85 percent of the revenues generated through their deals for as long as they are SoRewarding members. Additionally, merchants who sign up after the first month will retain 75 percent of their consumer driven deal revenues for the life of their account; which is by far the highest profit commission paid by any group buy deal site.
“In this economy, consumers are looking for a way to save money, and companies are looking for ways to both retain existing customers while attracting new ones,” said Marion Mariathasan, SoRewarding CEO. “People are tired of receiving dozens of emails every day and scouring them for deals that might be of interest to them. With SoRewarding, consumers can easily connect to the merchants that appeal to them most.” Continues Mariathasan, “We have automated everything; connecting consumers, merchants, schools and non-profit organizations together through our social network. Saving money, making money and raising money has never been So Rewarding.”
SoRewarding’s non-profit partners include the Ronald McDonald House Charities of Denver, Make A Wish Foundation of Colorado, Big Brothers Big Sisters of Colorado, The Rise School of Denver, Colorado Uplift, Seeds of Hope, Rocky Mountain Multiple Sclerosis Center, the Morgan Adams Foundationi, My Sister’s Closet, Mile High Leaps and Bounds, and the Colorado Youth Tennis Foundation.
SoRewarding is currently an invitation-only network. Consumers, merchants and non-profits interested in joining should visit www.SoRewarding.com to request an invitation.