Typically, this amount is between 0.5% to 10%, depending on the transaction volume Honey brings the partner.
The partner pays Honey a percentage of the transaction value based on its contract negotiations with the partner. Honey earns a commission from its partners every time a user redeems a discount code or coupon through its app or browser extension. Let's look at the affiliate structure in detail. Honey makes money by charging its partner's affiliate commissions for bringing them business. Some of its partners include Home Depot, eBay, and Microsoft. Honey gift cards are redeemable at any of its 5,500 partner retailers online. Users can cash in their Honey "Gold" tokens for digital gift cards. Honey users can sign up for the "Honey Gold" service, where they earn Honey's dedicated cryptocurrency as a reward for using the app or browser extension.
The primary advantage to the user is that they don't have to spend time locating discount codes of coupons online, saving them time and money on their transactions. Honey automatically applies the discount to their purchase when the user checks out. The search takes seconds, issuing the user with the best discount code it can find for the product or service. When the buyer enters the retailer's checkout, the app automatically scans the internet or website for coupons and discount codes relevant to the purchase. You also have the option of using the dedicated iOS or Android app. To access Honey, users must download the browser extension for their OS. Honey states its users receive average annual savings of $126 on their online purchases, with an average discount rate of 17.9% per transaction. The extension also compares pricing from sellers on Amazon, providing the user with the best price for the product on the site. Honey scrapes the web for discount coupons and codes when a user enters the checkout phase of the buyer journey. It also provides mobile apps for iOS and Android users. The company offers a browser extension for Chrome, Firefox, Edge, Safari, and Opera users.
IPad 3, iPad 4, iPad Air, iPad iPad, iPad Mini 2, iPad Mini 3, iPad Mini 4, 9.Honey partners with over 30,000 brands and online retailers across several categories like tech and electronics, groceries, travel, consumer goods, fashion, and more. IPhone 12 Pro Max, iPhone 13 Pro Max: 1284x2778 IPhone Xs Max, iPhone 11 Pro Max: 1242x2688 IPhone X, iPhone Xs, iPhone 11 Pro: 1125x2436 IPhone 6 plus, iPhone 6s plus, iPhone 7 plus, iPhone 8 plus: 1242x2208 IPhone 6, iPhone 6s, iPhone 7, iPhone 8: 750x1334 IPhone 5, iPhone 5s, iPhone 5c, iPhone SE: 640x1136 IPhone: iPhone 2G, iPhone 3G, iPhone 3GS: 320x480
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