American Thanksgiving is around the corner, which means Black Friday and Cyber Monday are imminent. With a whopping $691.9 billion in holiday sales last year (Nov. and Dec.), Black Friday and Cyber Monday have become two of the highest traffic days for retailers both in-store and online.
With 174 million Americans hitting the stores on Black Friday, how can you guarantee that your products get the exposure they deserve?
Incentivizing consumers to buy your products on one of the busiest shopping days of the year is easier than it sounds.
Consumer rebates not only pay consumers to buy your product but also provide you with opt-in data and insights and enable you to feed the rebate program funds back into your brand with Merchant Category Code (MCC) and Merchant ID (MID) restrictions.
Get Started With a Holiday Rebate Program
What Does This Mean?
If you're already going to be offering a Black Friday promotion or discount, there is an opportunity to bundle the promo with rebates, which are known to incentivize consumers to make a purchase. Together, the combination will deliver a competitive edge without additional price discounting.
With the average consumer spending around $350 and millennials spending more than $400 over the Thanksgiving holiday, you can use a rebate program to boost spending at your store with a 'spend $200, get $50 back' type promotion. And with MCC and MID restrictions, funds can be restricted to your brand or product ecosystem to ensure marketing spend is recouped.
"Boost your sales during that January slump with delayed card activation. Configure cards so consumers only get access to funds in the New Year."
Consider a Mobile and Online Rebate World
With so many purchases being made online (25.5M on Black Friday and 81M on Cyber Monday), virtual rebates are a great way to address such a large portion of the consumer base. Even purchases made in-store can be eligible for your online promotion by simply capturing their email at the POS terminal.
Virtual rebates enable you to fully brand your rebate experience or integrate with APIs for the ultimate user experience. Integrate surveys, data capture points, and even display ads into the online redemption process and feed your data pool with relevant consumer data you can use for future marketing efforts and market research.
So What Are the Benefits?
- Recoup rebate spend with MCC and MID restrictions to your brand
- Fully brand the customer experience (cards, collateral, redemption site, cardholder site)
- Delayed card activation to prompt users to return to shop during the January slump
- Cardholder and transaction data to inform future marketing efforts or strategic partnerships
Ready to Take the Plunge?
Resources
Deloitte Holiday Retail Consumer Survey 2018
