Why Simple And Instant Is The Secret To Making Rebates Truly Rewarding - Ingo Money

Why Simple And Instant Is The Secret To Making Rebates Truly Rewarding

October 17, 2019

Rebates and cash-back offers sound great in theory — the customer purchases something they wanted anyway, and get a small incentive payment to reward them for making the buy. It is unsurprising, therefore, that they are so popular with consumers. One study found that 75.4 percent of consumers said they were more likely to make a purchase if a product offered a rebate, while other research found that 84 percent of consumers view rebates as a savings opportunity, and more than half actively search out products with rebates.

In practice, however, the actual experience of accessing or cashing in a rebate often leaves much to be desired, such that customer enthusiasm for following through and collecting rebates pales in comparison to their enthusiasm for finding them in the first place. According to data from ConsumerAffairs, rebate redemption rates generally range widely — from 5 percent to 80 percent, depending on the value of the rebate. As for why people don’t redeem them, the leading reason is 41 percent forget to submit them, 25 percent lose a paper form necessary for redemption, 20 percent can’t be bothered and 14 percent give up because the process is too complicated.

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