Swagbucks releases findings on how cash back rewards positively influenced holiday spending trends in 2017
LOS ANGELES, Jan. 23, 2018 /PRNewswire/ — Swagbucks, a Prodege, LLC company, released the findings of a study on the impact that cash back and other third-party rewards had on consumer shopping and purchase decisions during the recent 2017 holiday shopping period.
In addition, it announced that Prodege’s family of cash back and rewards sites, including Swagbucks, MyPoints.com, and ShopAtHome.com, crossed the important milestone of awarding over $500 million to their 40 million members in free gift cards and cash rewards.
The study’s results, drawn from over 1000 US respondents who shopped online between November 24 (Black Friday) and December 23, indicate that consumer promotions strongly influenced retailer preference.
Most significant for the retail trade was that 76% of respondents reported that the availability of cash back and other third-party rewards significantly influenced their decision on where to shop online during the holidays. Prodege’s proprietary data on shopping activity corroborates this; online retailers who offered higher cash back amounts increased their Gross Merchandise Sales (GMS) during the holidays.
Cash back rewards sites have grown in popularity and are now a multi-billion dollar industry. Prodege’s portfolio of cash back brands grew 74% year-over-year and generated over $50M in ecommerce transactions during the Black Friday – Cyber Monday shopping period.
“Rewarding our members and offering them unbeatable savings is core to what we do every day,” said Chuck Davis, CEO and Chairman of Prodege. “As we see shopping and spending trends rise, we take great pride in the ability to provide savings for our members.”
The Swagbucks post-holiday study revealed that experience and live entertainment still featured prominently in gift giving. When compared to 2016, 83% of respondents gifted experiences about the same or a lot more than the year prior.
Gift cards also remained an incredibly popular gift item during the holiday season. And the study showed that in 2017, virtual or e-gift cards made up an increasingly larger share, increasing to 45% of all gift card gifting by survey respondents. This trend is reinforced by the 110% annual growth at MyGiftCardsPlus.com, Prodege’s retail gift card mall.
Consumers can join Swagbucks, MyPoints and ShopAtHome for free and can shop and earn rewards at all three locations via desktop. Swagbucks and ShopAtHome are also available via mobile on iOS and Android.
Swagbucks is one of the web’s leading rewards programs, rewarding its millions of members with free gift cards for their everyday activities and purchases online. Members use Swagbucks.com’s website and mobile apps to search, shop, watch videos, take surveys and more, earning points that are redeemable for gift cards to major retailers including Amazon and Walmart. To date, Swagbucks and its sister cash back shopping sites, MyPoints.com and ShopAtHome.com, have awarded more than $500 million in gift cards and cash rewards to their members and counting. Swagbucks also empowers hundreds of retail partners like Amazon, Walmart, Target and many more, as well as premium content providers like AOL and Hulu, to reach its millions of active, engaged members. Headquartered in Los Angeles, CA, Swagbucks is a subsidiary of Prodege, LLC, and partner site to the giftcard mall MyGiftCardsPlus. For more information, please visit www.swagbucks.com.