One of the newly introduced loyalty program is the rewards for shopping. Since the inception of online shopping, a lot of rewards program have been introduced to help in retaining loyalty of clients. These reward programs offer shopping incentives that could be cashback, points-based, hotel points, carbon offsets, charity donations and frequent-flyer-miles-based for airline among others. The rewards for shopping has been growing at fast rates especially in big markets such as Canada, US, UK and Australia. The roots of this market reward can generally be traced back to the traditional offline shopping that was not as competitive as the online shopping has become. However, the reward programs generally add great value to the shopping plan of he customer that cannot be matched by the offline shopping.
The rewards for shopping comes in a wide range of options hence clients should put due diligence to search for the shops that will give them the best offers. Sites that offer rewards in form of points tat can be rewarded in cash can be hard to determine customer value since currencies vary.
It is imperative to understand that shopping rewards are normally proportional to the amount of shopping an individual does. The reward is calculated depending on the amount that has been spent. Online shopping that involves shopping sing a credit card or online account makes it easy to trace the amount that has been invested by an individual. For example, for every $100 spent, a reward program may award $2 back which helps to increase shopping value of the clients.
It is essential to understand that clients do pay for the incentives that are offered by the credit cards. The penalties that are applied on late payments, inflated purchasing charges, interest charged on the credit offered, etc are the ones that are used in giving the incentives.
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