Thanx’s mission is simple: enable merchants to effortlessly identify, engage,
and retain their best customers. Thanx founder Zach Goldstein first developed
this perspective while working at Bain & Co., where he saw leading retail and
technology companies struggle to generate repeat business. All conceptually
understood that the top 20% of customers drive 80% of profits, but none could
connect with these high value individuals. Zach also noted that consumers
wanted an improved shopping experience, where their favorite brands didn’t ask
them to carry plastic cards or go through numerous steps at checkout.
Determined to find the right solution, Zach enrolled in Stanford’s MBA
program. He quickly discovered the complexity of existing customer retention
technology, as costly point-of-sale integrations chewed up valuable resources
without the promise of generating actionable insights. This led to Zach's big
idea. By eliminating point-of-sale integrations, and integrating directly
into customers’ preferred method of payment, Thanx could provide merchants
the real-time data they need to make sure loyal customers receive the
experience they deserve — and make the entire process effortless.
After running this concept by more than 300 merchants and receiving positive
encouragement, Zach made the call. Fast forward to today, and Thanx is a go.