61% of respondents say cashback is their preferred way to be rewarded vs points
Research released by Australia’s newest cashback platform, Kickback, shows more than half of Australians prefer cash to reward points in exchange for their loyalty. The survey of 500 credit card holders was conducted in March, with 61% of respondents saying cashback is their preferred way to be rewarded.
Kickback co-founder David Boyd said Coronavirus was driving renewed interest in reward programs, as budget friendly shoppers seek more bang for their buck. He adds that ecommerce spending was growing before COVID and has now exploded.
“Ecommerce spending has doubled in the past six months and more retailers are getting online,” he said.
Mr Boyd said that while Australian interest in cash back was strong, earning money back on credit cards, debit cards and Buy Now, Pay Later services like AfterPay was rare in this country. “Kickback is poised to support the growth of the thousands of new online retailers and millions of new shoppers driving the ecommerce trend.”
A Covid Silver Lining
Brothers Andrew and David Boyd launched Kickback.com.au just two weeks after COVID was declared a pandemic by the World Health Organisation. David Boyd said the decision to launch took courage but is ultimately paying off with more than 400 merchants since partnering with the service and more than 6,500 members joining to earn cashback.
“The Kickback brand name is a bold choice. It instantly tells shoppers that they’ll get something back on top of their shopping.”
He said Kickback had a clear point of difference to other rewards services, that is easily understandable to Australian shoppers.
“The more you shop with Kickback, the more cash back you'll earn. We're doing that by bringing the rewards structure from the airline, frequent flyer and hotel loyalty programs to cashback shopping.” Mr Boyd added Kickback had a tiered structure, meaning that the more members use the platform, the further they ‘level up’, unlocking cash bonuses and increased benefits. Kickback is also developing innovative new features never seen before in Australia.
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