Win your share of holiday spend in 2023 with Card Linked Offers
Traditionally, the period between Thanksgiving and Christmas brings in more retail sales than any other time of year. Recently, however, consumers have begun shopping earlier, driving merchants to begin their holiday promotions in early October. Additionally, consumers are buying and giving gift cards up to the holiday itself resulting in “sales tail” when retailers see purchases driven by gift card redemptions spill over into the new year. The bottom line- according to Insider Intelligence, overall consumer retail spending is expected to rise approximately 4.5% to more than $1.3T during the 2023 holiday season.
The rise in holiday spending only tells part of the story. According to the Numerator Economic Impact on 2023 Holiday Shopping report, over 50% of consumers expect inflation or a potential slowdown of our economy to impact 2023 holiday celebrations and shopping. To save money, two-thirds of shoppers say they’ll buy holiday items on sale and half will buy fewer items. With pressure on family budgets, consumers will continue to find ways to cut costs with 47% of consumers seeking out coupons, sales and other means to save money during the holiday shopping season.
Spread holiday cheer with cash back offers
To succeed this year, retailers and brands will need to rethink their marketing mix and explore more cost-effective programs that reach interested customers with the right offers that gets them to spend. Retailers will need to look for new ways to get in front of customers with offers that leave shoppers knowing they are getting a good deal. They will also need to look for new channels to reach busy shoppers and cut through all the holiday noise.
One proven approach is for retailers to partner with financial institution loyalty programs and provide cash back offers when purchases are made by program members. From attracting and retaining new customers, to building basket size, increasing trip frequency and rewarding loyal customers, merchant funded Card Linked Offers (CLOs) deliver unrivaled attribution and Return on Ad Spend (ROAS) measurement. CLOs deliver a measurable, targeted and personalized consumer experience that can be a critical competitive advantage for merchants during this essential holiday selling season.
Engaging consumers on their terms with a relevant, frictionless savings—linked directly to their debit, credit, or loyalty program—has earned a seat at the marketing planning table. In fact, a TD Bank study recently found that 76% of respondents use bank cards during the holidays to earn rewards and cash back on their spending.
Valuedynamx can help
Retailers and brands must engage 2023 holiday shoppers more cost effectively while incentivizing them to spend. Planning now with a nimble and attributable medium like merchant funded CLOs through Valuedynamx will provide the competitive advantage you need to succeed in the upcoming holiday shopping season.
