The
UK’s number cashback and rewards site, Quidco, has partnered with Visa
to grow its card-linked offering in a move set to increase high street
sales for it’s retailers by 100 per
cent to over £60m. It also expects an additional 500,000 new customers
to join as a result of more retailers and more offers.
Card-linked
offers enable Quidco members to earn cashback when they shop on the
high street as well as utilising the online service, by registering
their debit and credit cards with the site, activating deals and paying
as normal.
The Visa partnership, combined with Quidco’s existing tracking provider, will give Quidco the ability to track sales for 100 per
cent of merchants in the UK, opening up the option for retailers to
offer cashback rewards to customers when they purchase in-store. GAP,
Mothercare, Hotel Chocolat and 7 other retailers are the latest new
brands to come on board as a result of the Visa partnership.
There
are currently 40 active retailers on the card-linked platform and
Quidco expects this to double over the coming year thanks to the Visa
partnership. It consequently forecasts an extra £1m in cashback for
members over the next 12 months.
Andreas
Andreou, Quidco’s Commercial Director, said: “Visa is a global name
that retailers know and trust, and the infrastructure provided by this
partnership will really help us as we seek to further establish our high
street offering.
The
growth of card-linked offers is fantastic news for customers, allowing
Quidco to further represent that customers’ value to the businesses they
shop in on the high street as well as online, and make sure they are
rewarded accordingly. It boosts loyalty with a whole host of retailers
without the need for a second card that they’d have to carry around with
them at all times. This new partnership will allow us to engage with an
even wider range of brands, giving our members greater flexibility when
choosing where to shop.
He added “The
benefits to retailers are significant too. The data generated through
card-linked can offer them a unique insight into the behaviour of their
multichannel customers, including how frequently they purchase,
demographic data and what types of offers are most effective in
prompting people to make a purchase. Importantly, they can also
personalise offers and target new and competitors customers with unique
offers. We expect the scheme to double in size to over 80 retailers on
the platform 12 months from now, and predict an uplift in turnover for
these brands of over 100 per cent as a consequence.”
Quidco
plans to focus on recruiting new retailers in the fashion, electronics
and home categories, as well as ‘every day spend’ to help get customers
rewards everyday on their essentials like groceries and toiletries.
In
addition to the Visa partnership, the business is exploring a number of
other avenues that would enable it to develop its card-linked offering.
These include geo-targeting and beacon technology, which would allow
Quidco to better localise and personalise content shared with members as
they shop on the high street.
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