Cashback scheme pays out 2.7m to Xmas shoppers
- Added:
- Feb 01, 2008
Online cashback cooperative Quidco has announced it has paid out more than £2.7million to its members in November and December - the highest ever payout to its consumers over the festive period.
Quidco lets its members earn cash-back as they shop on the web by giving them back 100% of the money it earns for referring customers to online retailers.
In exchange, members give Quidco £5 out of their earnings once a year. Typically, cash-back payments range from 3% to 15% of the purchase price and membership is open to all.
More than 165,000 members made purchases via Quidco in November and December, with the top ten most popular sites visited receiving a sales boost of over £9.5m.
“Christmas 2007 will be seen as a watershed - the year when savvy consumers realised that it really does pay to shop online,” says Paul Nikkel, Founder, Quidco. “And we expect the momentum to continue throughout 2008 as the uncertain economic outlook is likely to encourage consumers to place even greater emphasis on value for money. We see it as a win-win situation: consumers get a great deal and merchants gain important new loyal customers.”