Increasingly consumers want a quick and seamless payment experience, which is exactly what digital wallets provide. This is why experts predict digital wallets will overtake plastic cards by 2030. Customers are sick of toting plastic, but they’ll never tire of unlocking great deals and personalized offers. Here are three ways that brands can use them to unlock the key to modern loyalty marketing.
Fondue, an Israeli startup that just received $10.5 million in a seed round, is looking to “crush” the prevalent coupon code system and replace it with a cash back program it says is more profitable and higher converting for brands. Shoppers are given options to redeem offers as cash back, as a site credit or as a higher-value gift card.
Card-linked offers, such as “get 5% cash back at Retailer X,” have become ubiquitous in online banking. And although targeting has improved, they’ve looked fairly similar for a while. Consumers ask “Why don’t I get offers from merchants I spend the most with?” The answer has to do with the limitations of bank-transaction data.
In the weeks after the holidays, many retailers simply resign themselves to sluggish traffic and anemic sales totals. The good news is that it doesn’t have to be that way. Although you may not be able to replicate the fever pitch of the holiday shopping season, with the right strategy in customization, fulfillment, customer service, and discounts, you can stimulate retail activity and avoid the post-holiday blues.