REBATE PROGRAMS RETURN MORE THAN $8 BILLION TO US HOUSEHOLDS
The typical rebating household saves almost $150 annually
June 2, 2011 (Lewisville, TX) – What would you do with an additional $150? Nearly half of American households get to answer that question each year.
Parago (www.bhengagement.com), a leading provider of innovative reward programs that drive behavior and promote brand loyalty with consumers, estimates that the typical American household that takes advantage of consumer rebates saves an average of $150 annually.
Rebates have grown in the last few years as value-seeking has become mainstream and popular with the average consumer. They serve as another valuable money-saving tool in the arsenal, with coupons, deal of the day sites and more that consumers are voraciously leveraging to save money. In fact, consumers can even get products for free with rebates, as highlighted in the April 17th article “Score Free Stuff” in the Richmond Times-Dispatch. As indicated by a survey completed by Parago in February 2011, 47% of consumers submitted at least one rebate in the past twelve months.
Based on an analysis of active 2010 programs, the market for corporate-funded rebates is estimated at more than $8 billion dollars, issued back to American households last year alone.
“Rebates are an easy and economical way for consumers to save on everyday purchases, which makes them enormously popular in the current financial environment,” said Juli Spottiswood, President & CEO of Parago, which has led the charge in modernizing rebate programs to make them easier for consumers and drive more ROI for businesses. “Not everyone chooses to take advantage of these savings, so those that do are able to save big and then spend their rebate checks and prepaid cards on other household expenses.”
Rebates are offered on large and small ticket products including everything from electronics, to office supplies, mobile phones and household goods. Smart shoppers have learned that even small rebates of just a few dollars can add up to make a big difference in the pocketbook. With household costs on the rise, rebates can provide families with much-needed extra cash to spend on other expenses.
This discovery of extra household savings provides a great incentive for consumers to rebate, especially when summer vacations, camp and activities are on the horizon. Rebating is also now easier than ever as many companies are choosing to offer online submission, which is the ultimate convenience for consumers. Rebate payout is now delivered in as little as two weeks. Also, consumers also have more choice than ever, with some rebate programs offering several options in payment methods: a paper check, a prepaid card that can be spent immediately without a trip to the bank or even PayPal payout.