Fana announces that it is launching an innovative, digital solution that will boost philanthropy by bringing non-profits, e-commerce and consumers together on one platform. The solution will turn every checkout into a giving opportunity while simultaneously boosting merchant reputation and conversion rates. Fana will primarily target digitally native Gen Z and Millennial consumers, a segment of the population that has a lower affinity with charitable giving, yet are highly concerned about social and environmental issues.
To achieve impact, Fana is working with non-profits and online merchants across all sectors, from airlines to retailers, creating a convenient, checkout-linked donation function that is connected to an in-app “giving wallet” held by the consumer. Donations are funded by the merchant, who adds a percentage of basket size at each checkout.
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In app, users will be able to freely allocate these donations to a wide selection of participating non-profits, creating a portfolio under “My Impact”, as well as have the opportunity to add a small sum of their own. Consumers are rewarded with shareable digital collectibles that double up as transparent statements on the impact of their contribution.
”Instead of commercial brands giving large budgets to a single charity of their choice, we will now enable consumers to make that choice personally, one dollar and one check out at a time,” explains Robin Yan, Fana’s co-founder & CEO. “We are effectively blending the younger generation’s trust of e-commerce brands with the power of giving. This is done by providing a no-fuss, transparent platform that makes donating easier and rewarding. By appealing to a younger generation, we aim to further boost their brand loyalty to our partner merchants, but also improve customer conversion, repeat purchases and higher spending.”
Research shows that 50% of younger generations have not yet chosen a charity to support1, stating that a lack of personal choice, no visibility on what happens to their donation, no sense of reward for their efforts and the rising cost of living hampers their willingness to give. From a merchant perspective, research by Amasty2 has revealed that “66% of consumers are ready to pay more for products from companies that support charities and have a social position similar to their own.” The data has also shows that using checkout donations “can increase sales by up to 29%”.
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