Cashback Deals – a success story
Cashback Deals – a success story
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It has been just over a year since myWorld introduced a new product that benefits shoppers and partners alike: Cashback Deals. The results of the past twelve months are extremely promising. Cashback Deal sales have risen steadily over the course of the year.
The past three years have had a profound impact on society and the economy. The pandemic, inflation and energy crisis have left their mark on our everyday lives. Above all, rising consumer prices have also had a lasting impact on consumers’ purchasing behaviour. Almost 50 per cent of consumers worldwide are reducing their daily purchases to the bare essentials and spending less on clothing, going out or travelling. The change in consumer behaviour is even clearer when it comes to choosing products: 60 percent of shoppers worldwide are now switching to cheaper products or making targeted use of vouchers and discount campaigns when making their purchases.
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What is bad news for the economy in general harbours great potential for myWorld. Because in times of inflation, we are helping people more than ever to save money on their everyday purchases. Our most effective “wonder weapon”: Cashback Deals.
Shoppers are increasingly looking for Cashback Deals
As a reminder: Cashback Deals reward myWorld shoppers with an increased Cashback amount. To secure the Cashback Deal of their choice online or directly in the partner’s shop, they simply have to redeem a corresponding number of Shopping Points. Customers can receive up to 25% Cashback in this way – a benefit that is very popular in the myWorld community, especially in times of inflation and the energy crisis. The analyses confirm this trend. Since the beginning of the year, the shopping volume that myWorld customers have generated via Cashback Deals has risen continuously. In the second half of the year alone, myWorld recorded a worldwide increase in Cashback Deal sales of over 50 per cent. No less impressive: Cashback Deals now account for over 20 per cent of myWorld’s total sales.
“We are seeing that myWorld shoppers are increasingly visiting our online portals to specifically search for Cashback Deals,” confirms Radovan Vitosevic, CEO of myWorld International AG. “This clearly shows that Cashback Deals have established themselves as a tool for our customers to save even more money on their everyday purchases. In addition, since the middle of the year we have been able to show our customers on myworld and in the myWorld App the Cashback Deals that interest them the most based on their previous click behaviour – this personalisation of our offer is certainly an additional success factor.”
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A power promotion tool for myWorld partners
Cashback Deals are also extremely useful for myWorld partners themselves. Entrepreneurs have known it for a long time: those who manage to keep customers enthusiastic about their own brand have a decisive competitive advantage. But how can you build up a loyal customer base without spending huge sums on marketing campaigns? For more and more myWorld partners, the solution is Cashback Deals. They can be created within seconds and do not require a significant marketing budget. What’s more, the red Cashback badge on myworld and in the myWorld App makes them highly visible to millions of myWorld shoppers worldwide who are specifically looking for Cashback Deals to save as much money as possible on their daily purchases.
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Thanks to these advantages, Cashback Deals have established themselves in the past year as an efficient, cost-effective tool for customer loyalty and increasing sales – with online partners, chain stores and especially in the SME sector. The latest analyses also prove how effective the Deals are as a marketing tool. Last year, one Cashback Deal led to an average of 40 transactions – a welcome increase in sales for myWorld partners. “Since we became a myWorld partner, our business has grown by 20 to 25 per cent year to year.
We have been able to achieve the greatest success for our company through the use of Cashback Deals,” confirms Sergio Michelotto, owner of Torrefazione Caffè Isola in Italy. Daniel Boris, a myWorld partner in Slovakia for many years, is also enthusiastic about the efficiency of Cashback Deals: “Cashback Deals make it easier than ever to increase sales. This feature is activated in just a few minutes and then works around the clock, 24 hours a day, seven days a week to increase my sales. It pays off!”
For Radovan Vitosevic, this is just the beginning of a long success story: “Cashback Deals are a real power promotion tool for our partners that is becoming increasingly popular – with partners and shoppers alike. Our marketing strategy for 2024 is therefore fully geared towards continuing this trend and continuously expanding the range of Deals on offer.”
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