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It’s no secret that cashback websites have increasingly become one of the best resources for online shoppers across the globe. Internet consumers are searching for the best deals and money saving opportunities, placing cashback sites at the forefront of capturing these value conscious customers.
Global performance network, Affiliate Window has undertaken a research study to analyse the value and scope of the cashback sector with impressive findings.
Quidco, the largest cashback brand in the UK has more than 3,500 retail partners and provides cashback to nearly 3m members. According to the data, Quidco generated nearly two million sales for retailers on the Affiliate Window network alone, with a sales value (in excess) of £180m in 2012.
Quidco reports that their members are set to receive around £5.8m in cashback each month in 2013. The brand further forecasts that next year sales revenue for their brand will reach £1billion, returning over £70m worth of payouts for their members. The UK’s biggest cashback site sees nearly 2m unique visitors every month, with the average family earning around £780 per year on purchases.
Andreas Andreou, Commercial Director at Quidco said: “We started 2012 with 1.7m UK members and finished the year with well over 2.7m. This phenomenal growth is driving incredible volumes for our retail partners as our members transact regularly, spending around £1,000 a year through Quidco.”
“Whilst we will continue to grow online cashback, our multichannel offering will see changes in 2013. These changes will benefit our members who will be able to get cashback when on the high street, and the retailer, who can generate incremental multichannel sales. In-store cashback and mobile is growing at Quidco and our members are starting to utilise cashback opportunities not only online, but in store with retailers such as Debenhams, Vodafone, Halfords and Cineworld. This is a trend that I see continuing well into 2013.”
The economic climate has led to a more positive consumer mindset towards discounts, which in turn, has seen a steady increase in the number of online shoppers aiming to get a better return for their spend, which is good news for cashback sites. With greater technological advances, cashback sites, in conjunction with their network partners, now employ sophisticated product placement tools and robust tracking and reporting capabilities allowing members a greater choice of retailers, products or services, specific to their needs.
“Cashback portals growth is representative of the changing purchase patterns of consumers looking for more value,” says Mark Walters, Managing Director for Affiliate Window. “However this is only one aspect of the cashback phenomenon, which can generally see retailers securing a good ratio of new to existing customers and higher than average order values. The portals themselves are also beginning to understand and share the power of their ‘big data’ and how this can enhance the experience for both user and retailer.”
As cashback sites continue to drive impressive levels of buying customers and offer a low-risk, pay-for-performance model, online retailers are undeniably presented with a compelling opportunity for acquiring and promoting to a growing market of advanced online shoppers.
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Published on: 8:17AM on 7th February 2013