The 2023 holiday shopping season proved to be difficult for consumers due to rising prices, making it challenging for them to manage their spending. In response to this, card-linked offers became an attractive option for budget-conscious shoppers, as many merchants and card issuers utilized item-level receipt data to provide tailored discounts and rewards to consumers looking for deals. A survey of over 2,000 consumers found that nearly 63 million of them were highly interested in using card-linked offers for their holiday purchases, with two-thirds of cardholders actually utilizing these offers.
The survey also revealed that interest in card-linked offers was particularly high among consumers with children and millennials, with a significant percentage expressing a strong likelihood of using them during the holiday season. The availability of discounts, good cash-back rewards, easy checkout, and the opportunity to discover new merchants were key drivers of consumer interest in card-linked offers. Furthermore, the data indicated that over half of consumers are at least somewhat likely to switch to merchants that provide product-specific card-linked discounts and rewards, emphasizing the effectiveness of tailored and relevant card-linked offers in engaging both holiday and everyday shoppers.
Overall, leveraging item-level receipt data to provide tailored card-linked offers can be an effective strategy for engaging consumers during the holiday season and beyond. By personalizing and tailoring their product-specific card-linked offers, retailers can drive consumer spending, attract new customers, and foster long-term customer loyalty.
In conclusion, the 2023 holiday shopping season saw a surge of interest in card-linked offers, driven by the desire for discounts, rewards, and an easy shopping experience. The data suggests that tailored and relevant card-linked offers have the potential to significantly impact consumer behavior, making it a compelling strategy for merchants and card issuers looking to attract and retain customers.