New research* commissioned by Hawk Incentives, a Blackhawk Network business finds an increasing number of surveyed shoppers are finding deeper value in rebates over other promotions. The survey, which focused on consumer incentives across 11 categories, found a rise in the number of surveyed consumers actively searching out products with rebates.
“As rebates continue to evolve with innovations like instant redemption and loyalty auto-enroll, we are also seeing a rise in consumers’ preferences for rebates,” said Theresa McEndree, vice president of marketing, Hawk Incentives. “Our research finds that an increasing number of the shoppers we surveyed are finding deeper value in rebates than other promotions. Rebates help customers feel like they are receiving best-in-market prices while also engaging customers to promote future sales and drive store and site traffic.”
The research findings were based on a survey of more than 1,500 American adults on their preference and attitudes toward consumer incentives across a range of categories, including auto aftermarket, home building and remodeling, personal care products and utility providers.
Key findings from the survey include:
- Shoppers are finding deeper value in rebates over other promotions: When asked to choose an incentive they would prefer over all others, more than half of those surveyed opted for a physical or digital rebate in six of the 11 categories tested. Additionally, 84 percent of surveyed consumers think rebates are a great savings opportunity, up from 79 percent in a similar 2017 survey**.
- Consumers are increasingly searching out products with rebates: Offering rebates can help retailers boost sales and foot traffic by appealing to customers looking for the very lowest price. More than half (55 percent) of surveyed consumers are actively searching out products with rebates, a 20 percent increase over 2017 findings in a similar survey. Eight in 10 respondents also agree that rebates are an attractive option when researching products online.
- Rebates can play an important role in acquiring new customers: Delivering rebates effectively helps reinforce purchasing behavior while also helping businesses gather data to help inform them on shopper and purchasing trends. Nine in 10 survey respondents would take additional action during rebate redemption if prompted, including completing a survey or review, enrolling in a loyalty program or referring a friend, a 13 percent increase over 2017 findings in a similar survey.
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