This annual event has quickly become a key date in the calendar for millions of shoppers as they seek out deep discounts in the lead-up to Christmas – and its growing popularity in the face of cost-of-living pressures has led businesses to implement earlier, longer and more sophisticated sales campaigns.
Last year, Australians spent more than $8.7 billion over the four days from Black Friday to Cyber Monday – up 22% from the $7.1 billion spent in 2022 (source: NAB).
“Our members are looking for the best deals online and they are finding them with Cashrewards. In fact, they spend 44% more online than non-members*. For advertisers looking for high-intent shoppers in any category, Circuit by Cashrewards is a must have media partner for Black Friday and Cyber Weekend.” - Lachlan Brahe, General Manager of Retail Media.
For brands, Black Friday weekend provides the most fertile territory for boosting sales and an ideal window to showcase new product launches. However, the longer-term opportunity lies in the capture and retention of customers where brands can leverage their customer loyalty programs into the holiday season and beyond.
At Cashrewards, Black Friday weekend is the holy grail for our growing membership of 2 million+ who not only shop the extra discounts on offer across their favourite brands but also get money back in their pocket in the form of cashback.
Equally for our brands at this time of year, Cashrewards has the audience sets, tools, technology and expertise to deliver incremental sales, and drive revenue growth and customers (while lowering the acquisition cost).
Here are our top three tips for how your brand can succeed with its retail media activity this Black Friday and throughout December:
#1 Capture shoppers with innovative Cashrewards campaigns
Businesses can leverage the Cashrewards platform with bespoke campaigns on all or any of the key shopping days such as Early Bird Deals, Singles Day, Black Friday, Cyber Weekend, and Cyber Monday.
The Cashrewards team are experts in crafting creative cashback offers, tiered incentives and cross-category selling that drive even higher customer engagement and conversion to purchase for your brand.
A global beauty brand wanted to capture eager shoppers looking to get the best deal in the Cashrewards Early Bird campaign. The brand saw an incredible 166% increase in revenue, an 85% year-on-year growth in the number of transactions, and a 74% uplift in new customers.
#2 Exclusive retail media placements
Cashrewards added a new dimension to its product offering in October last year that enables advertisers to create and nurture purchase intent through the platform.
Circuit by Cashrewards celebrated its first anniversary in October and is uniquely positioned as an Australian cashback platform that provides a retail media solution, offering a holistic view of the market and the customer.
This Black Friday, more brands can enjoy the benefits of Circuit by engaging consumers at every step of their path to purchase through strategic media placements, exclusive banner ads, and native content.
Across Black Friday and Cyber Weekend last year, a leading global airline took its member numbers to new heights with a 425% uplift and saw transactions soar by a huge 420%.
#3 Cross-channel amplification on social media, in-app notifications and email
Brands can gain access to Cashrewards’ suite of tools to create a consistent and personalised customer experience that drives engagement across all touchpoints.
Businesses are experiencing notable returns on their advertising spend by reaching the high-value members of the Cashrewards program using targeted channels such as email marketing, solus emails, in-app notifications, paid and organic social media and display advertising.
One campaign for Boozebud called Cashmas in July involved a 30 per cent cashback promotion, as well as a bespoke new customer promotion code that drove $235k in revenue in one day.
To discover how you can maximise sales and gain high-value customers starting thisBlack Friday weekend, please get in touch with your Cashrewards account manager.
The IAB’s recent publication of the Retail Media State of the Nation report provides informative insights into the growth of the retail media sector and the factors the industry needs to address to deliver further success for brands and marketers in the future.
In just a matter of weeks on Friday 29 November, Black Friday will kick off a weekend and indeed a month of heightened retail spending in Australia. Yes, the biggest shopping days of the season are upon us and consumers and retail brands alike are getting set to capitalise.
A sneak peek at upcoming opportunities with Cashrewards.