Cashrewards may be just the incentive Australian retailers need to encourage consumer expenditure in the later half of 2015. New research has revealed that an increase of 50% of Australian shoppers would spend more in the second half of 2015, which is just the news retailers need in the lead up to Christmas. Key insights from the Cashrewards survey also exposed that across all demographics, 90% would purchase on sale or through a promotion. Shoppers are mostly enticed by discounts, coupons and rewards.
The research recently conducted surveyed 1000 Australians of various demographics. Andrew Clarke, founder of Cashrewards said, “ The outlook for retailers through till the end of 2015 is looking very positive”. He goes on to say that, “spending has always been a barometer of consumer confidence in the economy, and low interest rates may be a contributing factor towards the positive sentiment about spending”.
One of the more interesting facts to emerge from the survey, was the revelation that the 2015 spend trend seems to be dominated by the 18-24 year old age bracket, with 64% saying they will spend more this year than last. Additionally, they are the age bracket that plan to spend more online this year compared to the over 55’s – who plan to spend more in-store.
Coinciding with the increase in online spending by younger demographics, was the reveal that the 18-25 year old bracket are largely motivated by online cash back rewards. “The fluctuating employment rate and Australian dollar certainly don’t seem to have deterred spending by the 18-25s, which may indicate that this age bracket isn’t as affected – or just that they don’t allow it to affect their planned spending” – comments Clarke. There is the possibility that they could be savvy shoppers or just a simple coincidence.
So how does the Cashrewards concept work? With over 700 retailers across all categories, Cashrewards offers the nation’s highest cash back rates. The free membership allows visitors to browse, compare prices and receive an average of 10% to 20% cash back on every item purchased. Through coupons and special discounts shoppers can save up to 50% of their online purchases.
Members simply click through Cashrewards to the website of their choice and purchase as per usual. Cashrewards then credits the cash back directly to the shopper’s nominated bank account. With new deals available on a daily basis, the participating brands include big name retailers such as: Woolworths, Coles, eBay, Chemist Warehouse, Priceline, The ICONIC, ASOS, David Jones, Saks Fifth Avenue, Lorna Jane, Virgin Australia, Telstra, Vodafone, Microsoft, Sony and Groupon – just to namedrop a few.
For further information, visit Cashrewards.