The EOFY is an important time of year in the retail calendar. It’s a time to get your accounts in order and take stock of where you’re at. It also presents an opportunity to take advantage of a naturally high peak in sales, as consumers look to make the most of the tax-time sales and turn their EOFY into an EOFYAY.
Here, at Cashrewards, we love EOFY and look forward to it as a time for us to deliver exceptional results for our brand partners. We were 'accounting' on some awesome outcomes, and we got them.
This EOFY we saw strong wins across the board, with our strong performers being tech & electrical, home & kids, fashion and QSR. We saw a 148% increase in total transaction value for Quick Service Restaurant (QSR), a 28% increase in shops for fashion and a 44% increase in active members for home & kids compared to our 2022 EOFY campaign.
Cashrewards Client Services Manager, Arushi Srivastava, says, “EOFY provides a hat-trick of benefits for our members; amazing sales, our wide range of brands, many of whom offer tax deductible items, and of course, cashback. Brands can take advantage of that and provide a win-win situation for both them and our members, simply by getting in front of them.”
As one of the biggest sales events on the shopping calendar—with over $9.3 billion spent throughout the period*—EOFY is the perfect time for people to make those bigger purchases.
According to Karissa Fletcher, Chief Marketing Officer at Shopper Media Group, it’s vital that brands consider consumers as well as businesses when planning their EOFY campaigns, “End of Financial Year sales trends have evolved. What was traditionally a business-to-business focus in the lead up to the financial year-end now presents an opportunity for brands to supercharge their marketing to consumers.”*
In this new retail landscape, brands need to find new ways to make their marketing budgets go further, and with recent internal research finding that, with the rising cost of living, 60% of members plan to increase their spending with Cashrewards in order to save*, there’s no better place than Cashrewards for brands to receive a EOFY boost to reach our high value members during the key retail periods.
If you’re looking to accelerate your sales during these key periods, you could engage with Cashrewards and, like our members, turn an event like EOFY into an EOFYAY.
Get in touch with your account manager to see how your brand can take advantage of Cashrewards retail campaigns.
Sources:
- Cashrewards Cost of Living Survey 2022
- *Australian Retailers Association EOFY 2023 Media Release
- B&T 2022 Shopper Study