Shopper Republic has launched Fast Cash, a digital cashback and GWP (Gift With Purchase) system that dramatically reduces the traditional claims cashback process from an average of 50 days from purchase to just 24 hours.
Fast Cash sees consumers upload their product photo and receipt via their smartphone and an eDM with a cash voucher is returned to them within 24 hours so that the promotion reward can be redeemed.
Shopper Republic Business Development Director Jason Bentley said: “With 76% of purchase decisions made at the point of purchase, cashbacks remain a critical element of product marketing strategies, but the long lead times to redemption – consumers wait an average of 50 days from purchase – means the mechanic has not kept pace with the digital world.
“Fast Cash puts the promotion reward into the hands of the consumer within 24 hours of purchase and we see this as a revolution in cashback management. Our research tells us that 85% of consumers will participate in a promotion if the reward is instant, and in the world of cashback promotions, Fast Cash is as instant as it gets.”
Fast Cash is also significantly cheaper than existing cashback systems in Australia. The cost of a cashback fulfilment with Fast Cash is 50% cheaper than current cash back redemption costs.
Shopper Republic is a new specialist shopper marketing division that uses global insights and deep retailer collaboration to assist brand sales and awareness in-store.
Shopper Republic develops omni-channel shopper marketing strategies, utilising physical retail environments and digital marketing with a focus on social media integration at the shelf. Executions can include shopper promotions, multi-platform digital, experiential, creative and point of sale campaigns, as well as retail staff programs, including incentives and e-Learning.
Shopper Republic is a division of CROSSMARK, Australia’s largest marketing and sales services company.