The 2023 holiday shopping season saw consumers struggling with rising prices, making it challenging to manage their spending. To cater to the needs of budget-conscious shoppers, merchants and card issuers offered card-linked offers that utilized item-level receipt data to provide tailored discounts and rewards. The report, “Leveraging Item-Level Receipt Data: How Merchants Engaged Holiday Shoppers With Card-Linked Offers,” highlighted that nearly 63 million consumers expressed high interest in using card-linked offers for holiday purchases. The availability of discounts, cash-back rewards, easy checkout, and product-specific card-linked offers for daily essentials were key drivers of consumer interest.
Findings from the survey revealed that card-linked offers particularly appealed to top spenders, including consumers with children and millennials. These consumers expressed a high likelihood of using card-linked offers during the holiday season. Additionally, the report indicated that appealing and relevant card-linked offers could persuade even previously loyal customers to switch retailers. Over one-third of Gen Z individuals stated they were likely to switch retailers, suggesting a potential shift in consumer behavior. Overall, the study emphasized that leveraging item-level receipt data to provide tailored and relevant card-linked offers could effectively engage holiday shoppers and everyday consumers, driving consumer spending, attracting new customers, and fostering long-term customer loyalty.
In conclusion, card-linked offers became an attractive option for consumers during the 2023 holiday shopping season amid rising prices. Leveraging item-level receipt data allowed merchants and card issuers to provide tailored discounts and rewards that resonated with budget-conscious shoppers. The availability of discounts, cash-back rewards, easy checkout, and product-specific card-linked offers for daily essentials were key drivers of consumer interest. Furthermore, the report revealed a potential shift in consumer behavior, with a significant proportion of consumers expressing a high likelihood of switching retailers to access appealing and relevant card-linked offers. Overall, the findings underscored the effectiveness of leveraging item-level receipt data to engage holiday shoppers and everyday consumers, driving spending, attracting new customers, and fostering long-term customer loyalty.
