Shoppers are savvier than ever, here’s how to reach them
Marketers need to deliver the right message to the right audience – at exactly the right time. Cashrewards' CMO, Nicole Bardsley*, explains how.
Ever shopped around online for the best deal? Combed through customer reviews before deciding what to buy? Maybe you’ve delayed a purchase until it’s on sale.
Of course you have. Most of us have. Today’s customers – including you and me – are savvier than ever. We have access to more information, more products and more brands than ever. And younger consumers are only getting savvier.
Our research has found that 80 per cent of millennials compare prices before they purchase, and we know that Gen Z shoppers are increasingly using sales events like Cyber Weekend to stock up on Christmas presents, months ahead of time.
Throw in a cost-of-living crisis – making consumers even more deliberate in their decision-making – and it’s clear that brands have their work cut out for them.
But just as technology has empowered shoppers, it can also empower marketers.
Cashrewards’ new retail media offering, Circuit, enables brands to reach specific audiences at the exact moment of purchase… and sometimes even before shoppers themselves know they’re about to purchase.
Circuit offers brands custom placements across Cashrewards’ platform, from homepage tiles to space in email newsletters.
And we are uniquely placed to unlock new opportunities for advertisers. With more than 2000 brand partners spanning more than 20 categories, from travel to beauty and groceries, Cashrewards has one of the most holistic views of the market.
Let’s say you’re a luggage brand and you want to reach travellers who might be in the market for new luggage. Cashrewards can offer you cross-category placements targeting shoppers who have just booked flights.
Or perhaps you’d like to reach shoppers who are further down the sales funnel and who are already searching for luggage.
After all, if Cashrewards members are browsing for a specific product on our platform, it’s unlikely they’re just window shoppers; rather, they have decided to purchase and are comparing brands and offers. All that’s left is for them to make a decision. What better moment for your message and brand to reach them?
Nicole Bardsley, CMO Cashrewards
An engaged audience
Cashrewards is not the only Australian platform offering a retail media solution. Retail media is exploding, with PWC recently valuing Australia’s retail media market at $850m, and predicting that that value will soar to $2bn by mid-2025.
This growth is driven in part by brands’ demand for first-party data and by the opportunity to reach audiences who are poised and about to spend.
What makes Cashrewards’ offering unique compared to others in the market is that we are the first Australian cashback platform to offer a retail media solution and we have uniquely holistic view of the market. We also have a uniquely engaged customer.
Cashrewards members are affluent, aspirational and they shop 44 per cent more often than non-members and spend 45 per cent more online when they do.
And they love us. Scroll through the customer reviews on our website and you’ll encounter glowing comments. One customer once told me that she views Cashrewards as her “secret savings account”. It’s little wonder our membership has climbed by 44 per cent in the past year.
Our members love spending with us and our partner brands. That sentiment can only drive brand loyalty.
Making marketers make their budgets go further
This is a unique moment for brands. Acquisition costs are rising, marketing budgets are shrinking, and the media industry is fragmenting. In this environment, cash back is an appealingly cost-effective solution for brands, too.
That’s because Cashrewards offers a pay-on-performance model, which means that our brands only pay when customers spend. In other words, it’s near-zero risk to brands.
We believe that Circuit will be a game-changer for brands and enable them to reach engaged shoppers at every stage of their purchasing journey. As consumers become more and more savvy, it’s up to marketers to stay one step ahead; Circuit helps them do exactly that.
*Nicole Bardsley is the Chief Marketing Officer at Cashrewards, and has spent 20 years delivering brand strategies for iconic UK and Australian businesses including Optus, Virgin and Westpac, where she was Head of Brand, Advertising & Social.
CONTENT SPONSORED BY Cashrewards
