- Anheuser-Busch InBev has announced a partnership with shopping app Ibotta wherein consumers receive cash refunds of up to $5 when they purchase AB InBev products from a range of grocery stores, bars, and restaurants.
- AB InBev's goals are to "enhance the consumer experience" and enable the company to "lead our industry in digital and mobile technology," Michael Zacharias, vice president of trade marketing, category leadership and sales technology for AB InBev, said in a statement.
- AB InBev is targeting deal-savvy millennials, many of whom have switched to craft beer.
According to a 2015 Nielsen study, millennials are hesitant to compromise quality or taste when purchasing alcohol.
However, millennials also are likely to use mobile apps to download coupons or discounts when they shop and dine. Appealing to that purchasing behavior is what AB InBev believes will make this partnership with Ibotta a success.
AB InBev has turned to innovation to promote many of its brands. The Bud-E Fridge smart refrigerator integrated e-commerce with the Bud Light brand to facilitate consumer purchases through smartphones. In December, the company launched limited edition Oculto bottles that lit up thanks to smart label technology and LED lights.
The Ibotta partnership could drive sales in a tech-savvy market that hasn't been as keen on Budweiser and Bud Light as previous generations. The question is whether consumers will continue purchasing AB InBev products once the cash back promotion ends in February 2018.
AB InBev has been ramping up its marketing efforts to offset falling revenue and profits, particularly in the U.S. market, which the company reported in its latest earnings last month.