More than 150 retailers including Macy’s, American Eagle Outfitters and Best Buy have expanded their content on RetailMeNot to include Cash Back Offers.
In the past 12 months, RetailMeNot Cash Back Offers have facilitated $77 million in retailer sales, with $2.7 million paid out to consumers. The average order value (AOV) when using a Cash Back Offer is $112, which is higher than RetailMeNot’s site average.
For example, a fitness apparel retailer partnered with RetailMeNot to promote a Cash Back Offer of $15 back on a $150 purchase. The retailer drove a 63% year-over-year increase in sales from RetailMeNot, with a 14% year-over-year lift in AOV. While the Cash Back Offer was live, the offer drove nearly one-third of total sales for the retailer.
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RetailMeNot Cash Back Offers can be found on the Cash Back Offers hub or directly on a merchant’s store page. Once consumers have logged into their RetailMeNot accounts, they can click to activate the offer.
Cash Back Offer payouts are then made via PayPal into the account designated by the consumer within two weeks following their purchase. Customers always can see the status of their pending and completed payouts in the RetailMeNot Wallet, a centralized hub that is accessible across all platforms for consumers to save and store deals, cash back payouts and more.
“Cash Back Offers attract a unique audience segment, and often result in these consumers stretching their cart size to meet a minimum spend,” said Marissa Tarleton, CMO of RetailMeNot in a statement. “Additionally, we are seeing improvement on customer lifetime value for retained and acquired customers who redeem a Cash Back Offer.”
