AUSTIN, Texas, Oct. 24, 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), has reached an important milestone with Cash Back Offers this year. As of October 2017, more than 150 retailers including Macy's, American Eagle Outfitters and Best Buy have expanded their promotional content on RetailMeNot to include Cash Back Offers.
RetailMeNot Cash Back Offers can be found on the Cash Back Offers hub at https://www.retailmenot.com/cashback or directly on a merchant's store page. Once a consumer has logged into their RetailMeNot account, they simply click to activate the offer and are on their way to deeper savings. For an even faster route to savings, consumers using the new RetailMeNot Genie browser extension on Chrome will have promotions, including Cash Back Offers, automatically tested with the greatest applicable savings applied.
Cash Back Offer payouts are then made via PayPal into the account designated by the consumer within two weeks following their purchase. Customers can always see the status of their pending and completed payouts in the RetailMeNot Wallet, a centralized hub across all platforms for consumers to save and store deals, cash back payouts and more.
"Cash Back Offers attract a unique audience segment, and often result in these consumers stretching their cart size to meet a minimum spend," said Marissa Tarleton, CMO, RetailMeNot, Inc. "Additionally, we are seeing improvement on customer lifetime value for retained and acquired customers who redeem a Cash Back Offer."
In the trailing 12 months, RetailMeNot Cash Back Offers have facilitated $77 million in retailer sales, with $2.7 million paid out to consumers. The average order value (AOV) when using a Cash Back Offer is $112, which indexes above RetailMeNot's site average.
Recently, a leading fitness apparel retailer wanted to test new promotional approaches given a strategic limit on online promotions year-round. Upon partnering with RetailMeNot to promote a Cash Back Offer of $15 back on a $150 purchase, the retailer received a 63% year-over-year increase in sales from RetailMeNot with a 14% year-over-year lift in AOV. While the Cash Back Offer was live, the offer drove nearly one-third of total sales for the retailer.
"RetailMeNot Cash Back Offers are another tool that retailers can leverage to drive conversion and increased AOV," said Tarleton. "Consumers have told us Cash Back Offers help sway their purchase decisions, and the ability to stack savings types – a coupon code in combination with a Cash Back Offer, for example – is a huge incentive for consumers."
About RetailMeNot, Inc.
RetailMeNot, Inc. (https://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. 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. As wholly owned subsidiaries of Harland Clarke Holdings, RetailMeNot and Valassis, a leader in intelligent media delivery, are partnering to connect retailers and consumers through meaningful digital, mobile and print promotions both online and in store.
SOURCE RetailMeNot, Inc.