June 13, 2017
Research: Branded Value Can Make Consumers Feel a Greater Affinity to Brands and Drive Incremental Spending
Blackhawk Network recently released its latest research, “Branded Value: Rewarding Experiences Driving Consumer Engagement and Spending.” More than 1,000 Americans were surveyed in October 2016 about how branded value motivates shoppers to spend and engage with brands, thereby measuring the value of brands in today’s economy.
Blackhawk’s research found that branded value can make consumers feel a greater affinity to brands and drive incremental spending. Responses from surveyed users of a variety of different types of branded value demonstrate it can be a powerful sales and loyalty driver.
The study revealed:
- Of surveyed gift card users: 95 percent are satisfied and 70 percent very satisfied when receiving a gift card. Consumers report spending, on average, $27 over-and-above the original value of the gift card.
- Of surveyed egift users: 93 percent are satisfied and 64 percent very satisfied when receiving an egift. They spend, on average, $29 over-and-above the original value of the egift.
- Of surveyed rebate users: 82 percent would likely recommend a retailer offering a rebate, and 83 percent report that a retailer offering a rebate makes it more likely that they’ll end up making a purchase.
- Of surveyed alternative payment users: Mobile payment options make 26 percent feel more loyal to the brand/retailer in question. Seventy-seven percent would likely recommend a retailer offering a form of alternative payment (like a mobile wallet) and 78 percent also believe that a retailer offering a form of alternative payment ups the likelihood of them making a purchase.
- Of surveyed loyalty program users: More than a third (36 percent) feel more loyal to a brand/retailer after redeeming loyalty points from it. Eighty-five percent would likely recommend a retailer offering loyalty points. Eighty-nine percent also report that a retailer offering loyalty points increases the likelihood of them making a purchase.
To view the ebook detailing the full findings, click here.