Spring and PREIT Partner Launch Mall-Wide Shopper Rewards and Digital Marketing Program

Chicago, Ill. (June 16, 2016) – Spring, the only platform that connects digital marketing with real time payment data and in-store sales, announced a partnership today with PREIT (Pennsylvania Real Estate Investment Trust) to power the company’s PREIT Perks, a mall-wide shopper rewards and digital marketing program. The announcement significantly expands the Spring network reach to millions of shoppers across 11 states. PREIT launched the first PREIT Perks program at the Cherry Hill Mall in New Jersey.

“The Spring platform dramatically improves the shopping experience while giving PREIT retailers visibility into consumer behavior at PREIT malls they’ve never before had,” said Bruce Mitchell, CEO, Spring. “Since launching the first mall-wide program, we have seen a significant increase in how quickly customers return to the mall and in how much they spend. We’re thrilled to partner with PREIT as they continue to grow their mall properties.”

The Spring platform solves the issue of offline attribution, and has proven successful at increasing foot traffic, sales and a guaranteed return on investment for local retailers, restaurants and national franchises. With the addition of Cherry Hill, Spring continues to build a network that has access to over $60 billion in annual consumer spending across thousands of retailers and over 1 billion annual consumer store visits.

“Since our founding nearly 60 years ago, PREIT has been committed to optimizing experiences for both the shopper and the retailer,” said Joseph Coradino, CEO, PREIT. “With this partnership, we are leveraging Spring’s innovative technology to stay true to that commitment and really elevate the retailer-shopper relationship. As we roll these programs out over the next several months, it will be a win-win for all involved.”

Retailers now have a performance based solution that can drive revenue, build a customer database for remarketing and get guaranteed results. Through partnerships with MasterCard, Visa and American Express, Spring uses real-time spend data, enabling retailers to engage high intent shoppers while they are in the mall and structure incentives by spend amount, time frame or specific location. Redemption of rewards is automatically administered by the platform and there is no operational burden, change at the point of sale, or involvement by the retailer staff.

Customers enroll through a quick one-step process that links their existing credit or debit card to the Spring Network. Members can link up to 15 of their cards and will automatically receive real time notifications for cash back rewards and earn credit for purchases made at every store in the mall.  Members can use their earned cash value across the mall at a retailer they choose.

PREIT (NYSE:PEI) is a publicly traded real estate investment trust specializing in the ownership and management of differentiated shopping malls. Headquartered in Philadelphia, Pa., the company owns and operates over 25 million square feet of retail space in the eastern half of the United States with concentration in the Mid-Atlantic region’s top MSAs. Since 2012, the company has driven a transformation guided by an emphasis on balance sheet strength, high-quality merchandising and disciplined capital expenditures. Additional information is available at www.preit.com, on Twitter or LinkedIn.

About Spring 
Spring operates the Spring Network, which is immediately available to national and local merchants who want to grow revenue through performance-based marketing. Merchants simply opt-in to Spring and can immediately start running promotions – with no change to equipment or operations – adding the ability to track revenue and transactions delivered in real time and increasing consumer visits and spend per visit. Spring has partnerships with four of the nation’s largest shopping mall operators – including Simon Property Group, Starwood Retail Partners, Taubman Centers and PREIT – reaching a network of more than 300 malls across all 50 states. Learn more at www.springnetwork.com.

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