Shopify partners with Student Beans to launch student verification technology

Canadian ecommerce giant Shopify has launched a partnership with online coupon redemption platform Student Beans.

Student Beans offers exclusive coupons for students and provides free coupons to allow savings to be made at some of the world’s biggest brands including Disney, Amazon, Doordash and more.

As part of the tie up, innovative single sign-on (SSO) technology can now be used by one million Shopify merchants to verify student customers.

The release will allow merchants to seamlessly integrate Student Beans’ student verification technology into online stores, providing a gateway to success with Gen Z.

By enabling this discount technology on-site, students shoppers are not only five times more likely to convert into purchasing customers, they’re also more likely increase basket sizes at checkout, boosting order values on average by 17%.

The student discount market is worth an estimated $303 billion in the US alone.

Online coupon redemptions at basket checkouts have grown amongst student Gen Z consumers and are set to continue as young US consumers try to ease the impact of the cost of living crisis by making savings where they can, as inflation continues to peak at historic highs.

Each year, 20 million students bring in an annual income of $595 billion to the US economy. Almost two thirds (60%) of this is spent on discretionary items (such as hospitality, leisure, travel and tech).

According to reporting by Student Beans, two thirds (67%) of US students actively search for student discounts, and one in ten will purchase from a new brand if a discount has been provided. In fact, almost all (92%) of US students believe brands which provide exclusive savings for students care more about them.

“Since its inception, innovative SSO technology has proven popular with our existing brand partners and student users alike – providing brands with lucrative opportunities to grow their conversion rates, and support young people in saving money on their favorite brands with exclusive discounts,” Student Beans founder and CEO Mike Eder said.

“The global student population is huge and continuously growing, with US students collectively spending an annual $303 billion, so we’re extremely excited to offer a gateway for merchants to grow their consumer base of money smart students.

Shopify brands will have control of their own discount amount and duration, as well as access to a dashboard showing the number of verifications, revenue made, and average order value.

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