PYMNTS-MonitorEdge-May-2024

Grocery Shoppers Want Product-Specific Card-Linked Offers

As budget-conscious shoppers seek card-linked offers, PYMNTS Intelligence reveals that product-specific deals can go a long way towards engaging cost-sensitive grocery shoppers.

By the Numbers

The new report “Leveraging Item-Level Receipt Data: How Merchants Engaged Holiday Shoppers With Card-Linked Offers,” a PYMNTS Intelligence and Banyan collaboration, draws from an October survey of more than 2,000 U.S. consumers to better understand their use of and preference for personalized card-linked offers.

The results reveal that 60% of all cardholders are very or extremely likely to use product-specific card-linked offers for buying groceries — part of an overall trend towards consumers seeking out these kinds of offers for their everyday expenses.

Additionally, among consumers with children who tend to spend the most on household expenses, 67% would use product-specific offers for groceries.

A Deeper Dive

In an era where consumers are increasingly seeking ways to maximize their savings, the availability of product-specific card-linked offers could be a game-changer. These findings are especially notable as grocery shoppers cut back amid economic pressures, increasingly seeking out deals to help them manage their day-to-day expenses.

For merchants’ part, by leveraging item-level receipt data, they can gain valuable insights into consumer preferences and shopping habits, allowing them to tailor their offers more effectively.

This latest finding, that consumers want offers on specific items, is part of grocery shoppers’ overall, consistently shown demand for card-linked deals.

For instance, the September edition of the report, “Leveraging Item-Level Receipt Data: How Card-Linked Offers Drive Customer Loyalty,” found that roughly 6 in 10 of those who are likely to use a product-specific card-linked offer program in the next three months — or about half of consumers overall — are very or extremely likely to use card-linked offers for grocery purchases in that same period.

Retailers and grocery chains that recognize the potential of these targeted deals to drive customer engagement and loyalty can entice shoppers with personalized offers that align with their preferences and needs.

PYMNTS-MonitorEdge-May-2024