Here's what kept holiday shoppers loyal
Cashback rewards drove online shopper purchase decisions during the holidays, according to a new survey.
A report from Swagbucks, a Prodege company, shows that consumer promotions strongly influenced retailer preference.
Most significant for the retail industry was that 76% of respondents reported that the availability of cash back and other third-party rewards significantly influenced their decision on where to shop online during the holidays. Online retailers who offered higher cash back amounts increased their Gross Merchandise Sales (GMS) during the holidays.
Cash back rewards sites have grown in popularity and are now a multi-billion dollar industry. Prodege's portfolio of cash back brands grew 74% year-over-year and generated over $50M in ecommerce transactions during the Black Friday - Cyber Monday shopping period.
The Swagbucks post-holiday study revealed that experience and live entertainment still featured prominently in gift giving. When compared to 2016, 83% of respondents gifted experiences about the same or a lot more than the year prior.
Gift cards also remained an incredibly popular gift item during the holiday season. And the study showed that in 2017, virtual or e-gift cards made up an increasingly larger share, increasing to 45% of all gift card gifting by survey respondents. This trend is reinforced by the 110% annual growth at MyGiftCardsPlus.com, Prodege's retail gift card mall.
Consumers can join Swagbucks, MyPoints and ShopAtHome for free and can shop and earn rewards at all three locations via desktop. Swagbucks and ShopAtHome are also available via mobile on iOS and Android.