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 today’s economic environment, savvy shoppers are prioritizing value and waiting for wallet-opening moments to make smart purchases. This is a part of the reason why Rakuten continues to see growth on its platform.
Big Give Week 2023: More stores, shoppers, and sales
Rakuten exists to create the most rewarding place to shop. Once a year, we get to celebrate this in a big way. Rakuten’s Big Give Week (BGW) is an eight-day celebration of what we do best: connect partners to millions of shoppers and give eager shoppers some of the biggest Cash Back rewards of the year.
With each year, the excitement around Big Give Week grows. BGW 2023 brought more stores, shoppers, and sales than ever before! This year’s Big Give Week, our Festival of Savings, saw a 3% year-over-year increase in participating partners with over 710 partner brands. And our partners weren’t the only ones who showed up. Big Give Week 2023 saw 1.2 million buyers unlocking extra savings and rewards on their favorite brands, products, and services.
Big Give Week drove an influx of new shoppers, increased engagement, and sales.
We launched a fully integrated Big Give Week campaign with the goal to drive awareness, signup, and shopping. Our investment yielded undeniable results, illustrating consumers eagerness for rewards and savings.
Rakuten saw significant spikes in member growth and activity:
- Big Give Week saw a 99% increase in sign-ups, 132% increase in first-time buyers, and 44% increase in shopping trips compared to the week prior.
- Compared with 2022, we saw a 45% increase in member signups, 28% increase in first-time buyers, and 6% increase in shopping trips during Big Give Week 2023.
- Shoppers spent 11% more per order in Big Give Week 2023 than BGW 2022.
- Big Give Week participants saw a 133% increase in sales, 792% increase in shopping trips, 108% increase in orders, and a 12% increase in average order value (AOV) compared to non-participants.
Driving long-term loyalty through retail sales events
As shoppers get smarter and savvier, retail sales events like Big Give Week continue to emerge and grow. Consumers are capitalizing on the opportunity to save on their favorite brands and products throughout the year. Smart marketers will take advantage of these customer-centric events to engage shoppers with incentives and excitement when they’re most intent on spending.
Looking at the performance of this year’s Big Give Week, we see these retail moments are effective at incentivizing shoppers into action. But beyond driving one-off sales, there’s a greater value that they bring to the table. Retail sales events are critical to driving long-term loyalty, which is increasingly difficult to maintain in a saturated and competitive market. Shoppers have more options and channels than ever before and use this to their advantage to shop around carefully. Retail events are a high-performing touch point that helps retailers “step on the gas” by highlighting special incentives that won’t be on offer most of the year.
Retail sales events are valuable opportunities to attract new shoppers and steal loyalty from the competition. By strategically investing in events when and where they know their audience will be engaged, marketers can continuously activate those shoppers and stay top of mind. Conversely, marketers that don’t actively manufacture multiple high points through the year run the risk of letting customers lose interest in their brand.
Get Ready for The Big Stack 2023!
The summer season is a crucial time for strengthening relationships with your customers to keep shoppers engaged and stay top of mind heading into the holiday season. Fortunately, July hosts some of the largest annual retail events, including Rakuten’s Big Stack Event. Retailers can capitalize on increased online traffic and in-market shoppers during these popular shopping days. The Big Stack takes place July 10 – 12th, and offers Rakuten shoppers 10% cash back across every category. Whether you have a sitewide promotion, back-to-school sale or new arrivals, elevated cash back will help you capture market share and boost summer sales.
Get in touch to participate in The Big Stack 2023!