(www.gawkwire.com) – A new research report identifies the global cashback industry leaders, the growth of the industry, its important role in worldwide ecommerce, and the trends and challenges faced by this quickly growing industry.
“We set out to identify the scope and scale of the cashback industry for the first time and to look at what is driving the fast growth of this $84 billion global industry that has a huge impact on ecommerce, online retail strategies and the incentives that convince consumers to buy online,” said Douglas G Hall, lead author of the report.
$84 Billion Global Industry
The new report, “2015 Cashback Industry Report: A Global Industry Comes of Age” provides the first in-depth profile and analysis of the global cashback industry. The report includes:
- Overview of the estimated $84 billion-plus cashback industry including consumer and business drivers
- profiles of 235 leading cashback companies worldwide, including 51 US, 48 UK, 35 EU, 35 Indian,19 SE Asian, 14 Australian, 12 Chinese, 12 Latin American and nine other cashback leaders
- in-depth analysis of cashback markets and prominent companies in North America, UK, India, China, EU, Australia, Southeast Asia and Latin America
- highlights of emerging technologies and innovators
- industry influencer identification
- analysis of the challenges, trends and future projections for the industry.
Hall, a global financial payments consultant, said there was a lack of research identifying the scale of the cashback industry, what industry leaders are doing worldwide, and its impact on online shopping and sales.
“With an industry that totals more than $84 billion in sales, there was a surprising lack of research available,” said Hall. He said tens of thousands of retailers are actively using cashback as a marketing strategy and millions of consumers are spending billions of dollars shopping online.
Global Report Highlights
The report identifies several key cashback industry insights:
- profiles of 235 leading global cashback companies
- 64% of online consumers belong to a loyalty rewards site
- 71% of online shoppers want products with high cashback rebates
- global e-commerce was $840 billion in 2014
- Online Performance Marketing (OPM) sites generate 10% of UK ecommerce retail sales or 1% of GDP from cashback, vouchers, coupons and related online marketing strategies
- combined B2B and retail e-commerce will hit $12 trillion worldwide by 2020.
“For the first time, the cashback industry has a reference point, insight into best practices globally and where the industry is going in the future,” Hall added.
Consumer Preferences & Industry Trends
The report also analyzes four key industry trends the cashback industry and online retailers need to follow closely:
- online shopping consumer preferences and cashback adoption
- a shift from coupons and daily deals to cashback as a primary marketing strategy
- impact of mobile technology in new markets such as India and China and challenges in mature markets for the US and UK
- new technologies, innovators and the potential for impact and disruption as the cashback industry matures.
The “2015 Cashback Industry Global Report” is now available for purchase at www.cashbackindustryreport.com.
Lead author Douglas G Hall is a global electronic payments consultant with Global Payroll Gateway Inc in Los Angeles. With more than 40 years of payment processing, sales and marketing experience, he is an active speaker and presenter in the electronic payments industry. Co-author Jeff Domansky is a social marketing consultant.