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Blackhawk Network's Rebates Redemption Platform Surpasses 1 Billion Rebate TransactionsAs consumers increasingly look for ways to stretch their dollars amidst ongoing economic challenges, global payments provider Blackhawk Network has announced that it has surpassed more than 1 billion rebate transactions processed via its rebates redemption platform. The platform enables businesses to monitor rebates and promotions. As clients like CPG brands tailor rewards programs and promotions, they can rely on Blackhawk's technology to provide the validation and disbursement mechanisms needed to deploy the rebates digitally or by mail. Research1 found that nearly nine in 10 shoppers (89%) have changed or are considering changing how they shop as a result of inflation. Consumers are actively seeking out deals, promotions and other ways to save, and in the months to come, nearly 60% of survey respondents1 are planning to continue using-or more frequently use-deal-seeking tools (like rebates). "Companies everywhere are competing for share of wallet as people become more conscientious about how they spend their money. The knee-jerk reaction for most businesses is to offer one-time instant discounts, but those are one-and-done, short-term solutions. There are more viable, lucrative, long-term solutions that benefit businesses and consumers alike and create ongoing engagement," said Jeff Haughton, SVP, Incentives, Corporate Development & Strategy at Blackhawk Network. "For instance, when people receive a rebate, especially a branded one like a prepaid or gift card with the company's log, it can create a halo effect of positive brand affinity for the business issuing the reward. Rebates are a way for businesses to give consumers a price break when they need it most, and shoppers are more likely to engage with and return to that brand in the future-driving significant spendback and loyalty along the way. We are increasingly being asked to help businesses to create or revive legacy rebate programs as a result of this shift toward more active deal-seeking. Forward-thinking businesses can lean into rebates as promotional solutions to help drive foot traffic, boost sales, turn over excess inventory and more-driving loyalty along the way." There are numerous bottom-line benefits for businesses that offer rebates. Research2 has found that reward-based promotions, like rebates, outperform instant discounts; reward-based promotions can drive more revenue (58% more) and offer an 8% greater return on marketing investment than instant, one-time discounts. Rebates also help businesses reach more tech-savvy and younger consumers since they can be digitally redeemed and digitally delivered. To learn more about Blackhawk's expansive suite of rebate management solutions, click here. About Blackhawk Network: Blackhawk Network delivers branded payment solutions through the prepaid products, technologies and network that connect brands and people. We collaborate with our partners to innovate, translating market trends in branded payments to increase reach, loyalty and revenue. We reliably execute security-minded solutions worldwide. Join us as we shape the future of global branded payments. Learn more at blackhawknetwork.com.
1 "Inflation (and More)" is an internet-based survey conducted by Survey Monkey on behalf of Blackhawk Network in June 2022. The sample size included 3,206 U.S. respondents ages 18+.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221129005460/en/ |
