Cash Back is the value shoppers are looking for
Though more deliberate with their dollars, consumers are still eager to buy and are outspending compared to last year. The average shopper is looking to spend their money with brands that can offer them value. Rakuten Chief Revenue Officer, Julie Van Ullen, recently dove into the current retail environment and consumer behavior in a segment with Bloomberg Business.
Rakuten Chief Revenue Officer, Julie Van Ullen, recently dove into the current retail environment and consumer behavior in a segment with Bloomberg Business. Keep reading for our recap.
Though more deliberate with their dollars, consumers are still eager to buy and are outspending compared to last year. The average shopper is looking to spend their money with brands that can offer them value. Companies that have adopted a heightened level of cash back have reaped the benefits. “It doesn’t devalue a brand to offer something like cash back”, states Julie Van Ullen. In fact, cash back is the type of value shoppers are looking for. Categories that have adopted a higher level of Cash Back compared to last year are seeing significant increases across number of shopping trips, average order value, and more. Categories that have leaned into this Cash Back strategy in 2024 include pets having grown 100%+ in trips year-over-over, as well as appliances and hardware, marketplace, home and garden, and travel with YoY strong growth.
Cash Back offers consumers the value they demand
In a market where acquisition costs are rising and consumer expectations are evolving, brands must rethink the ways in which they attract and retain buyers. Adopting a Cash Back strategy allows brands to deliver the value consumers continue to demand.
Cash Back programs offer a compelling solution to win wallets and drive revenue. By delivering tangible value and fostering long-term relationships, these programs have become foundational to any successful performance marketing strategy. At Rakuten, we work with our merchant partners to create insight-driven performance programs that respond to the business, the market, and consumers. That means using a strategic combination of Cash Back, media, and targeting to serve shoppers the right rate at the right time. This drives better experiences for our members and stronger results for merchants.
Ready to connect with your ideal shoppers? Connect with us at Rakuten and we’ll help you create the Cash Back strategy that’s right for you.
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