Rakuten

Research conducted by Rakuten and Vogue Business found spend from younger luxury buyers is growing 3x faster than other generations. How have designer brands evolved to win the attention of the new luxury buyers?

People are feeling increased pressure. They’re going to have a new demand for discounts as they prioritize needs over wants and make clear tradeoffs. Here’s a closer look at what’s driving this shift in consumer behavior and purchasing decisions.

To maintain attention and drive sustained spend throughout the remainder of Q3 and Q4, consider the following tactics when planning your second half cash back strategy with Rakuten.

Back-to-school is a long season with the potential to significantly impact brands’ bottom lines and set the foundation for Q4 success. Set your brand up for success with these steps.

In recent years, retail has proven to be flexible and adaptable, weathering economic headwinds and changing consumer behavior. How can retailers continue to maintain their resilience?

Investing in a cash back strategy is a great way for marketers to win the wallets of shoppers who are getting smarter and savvier across the board.

As technology advances and options expand, customer expectations continue to skyrocket. Consumers expect convenience, to be rewarded on their everyday purchases, and a connected experience regardless of where the touchpoint is taking place. Brands are challenged with how to meet these demands in a way that adds value to their customers.

From loyalty programs and cash back incentives to the rise of retail events, consumers have an arsenal of tools at their disposal for saving big on almost any purchase these days.

In recent months, businesses have shifted from a growth mentality to one that focuses on efficiency. They’re scrutinizing their spend, and consequently, marketers are being asked to do more with less.

Younger consumers have the urge to splurge. Recent data from McKinsey found that 61% of Gen Z intend to splurge in 2023. Similarly, Visa found Gen Z to be the only age group that, in any given month in the past 2.5 years, was spending more than they were a year prior.

What do travel, footwear, and pets have in common? If you guessed these are some of the faster growing categories on Rakuten as of recent – that’s right. While economic pressures are driving a focus on value and savings, we’re continuing to see shoppers spend money.

In Rakuten’s last blog post, we talked about Gen Z being a key driver of retail spend. In this piece, we will dive into a few pro-tips on how to enhance their in-store shopping experience.