AUSTIN, Texas, April 6, 2017 /PRNewswire/ -- RetailMeNot, Inc., a leading digital savings destination connecting consumers with retailers, restaurants and brands, both online and in-store (www.retailmenot.com/corp), today released a new study titled "The State of Cash Back Offers" that analyzes consumer behavior regarding usage of digital rebates. The findings are based on a survey of more than 1,000 U.S. consumers, and results indicate a significant portion of consumers are uniquely attracted by cash back offers.
About one-third of consumers surveyed said they would be willing to shop at a new store if presented with a cash back offer. Nearly half (47 percent) indicated they would be more willing to make a purchase with the ability to combine a coupon with a cash back offer. And nearly 20 percent of consumers surveyed said they made a purchase or spent more than planned because of a cash back offer in the last 12 months.
According to the study, consumers have a strong preference for digital payout when it comes to cash back offers. Nearly all consumers (96 percent) prefer not to use mail-in rebates, and 70 percent prefer to receive payment from cash back offers in a form other than a check. With the prevalence of digital payout apps and services, most shoppers are more comfortable with a digital payout.
Additional insights on consumer demand for cash back offers can be found in the full study, available at www.retailmenot.com/cash-back-offers.
"Digital cash back offers are another great savings tool that resonates well with our large, high-intent audience," said Marissa Tarleton, chief marketing officer at RetailMeNot, Inc. "We know consumers want to save every time they come to RetailMeNot, and cash back offers, combined with other marketing vehicles like promotions and discount e-gift cards, are powerful incentives to drive consumers to shop online, on their mobile devices, and in-store."
RetailMeNot measured the performance of cash back offers with 33 large, national retailers. These offers typically result in improved time on site and a decreased bounce rate. On average, RetailMeNot Cash Back Offers have yielded the following results for retailers:
- 3.4x lift in conversion rates
- 46% increase in average order value
In addition to getting in front of the largest online deal-seeking audience, RetailMeNot Cash Back Offers also include actionable ROI-level reporting, complementing marketing tactics, and targeting based on the retailers' specific needs. All active cash back offers can be found at www.retailmenot.com/cashback.
"This is a great opportunity for retailers to drive positive business results," said Tarleton.
Interested advertisers (including restaurants, retailers and brands) can contact their RetailMeNot sales representatives or email John Theiss, senior vice president, retail and brand solutions at firstname.lastname@example.org.
The RetailMeNot Google Survey was conducted in January 2017 among 1,006 nationally representative U.S. consumers. The purpose of this research is to collect insight from consumers aged 18 to 65-plus on their preferences regarding rebates or cash back offers. Survey results have been weighted for gender, age and geographic region. Percentages may not total 100 due to rounding.
RetailMeNot looked at the performance of total promotional programs vs. cash back offer performance in Q4 2016 for a set of large, national retailers. Thirty-three retailers participated in a test pilot of cash back offers via RetailMeNot, and conversion rates, average order value, and ROI were all analyzed for the time period.
About RetailMeNot, Inc.
RetailMeNot, Inc. (http://www.retailmenot.com/corp/) is a leading savings destination connecting consumers with retailers, restaurants and brands, both online and in-store. The company enables consumers across the globe to find hundreds of thousands of digital offers to save money while they shop or dine out. During the 12 months ended December 31, 2016, RetailMeNot, Inc. experienced over 650 million visits to its websites. It also averaged 23.1 million mobile unique visitors per month during the three months ended December 31, 2016. RetailMeNot, Inc. estimates that approximately $4.4 billion in retailer sales were attributable to consumer transactions from paid digital offers in its marketplace in 2016, more than $600 million of which were attributable to its in-store solution. The RetailMeNot, Inc. portfolio of websites and mobile applications includes RetailMeNot.com in the United States; RetailMeNot.ca in Canada; VoucherCodes.co.uk in the United Kingdom; ma-reduc.com and Poulpeo.com in France; and GiftCardZen.com and Deals2Buy.com in North America. RetailMeNot, Inc. is listed on the NASDAQ stock exchange under the ticker symbol "SALE."
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SOURCE RetailMeNot, Inc.