Luxury shopping site Spring.com is giving consumers 4 percent back in cash rewards via its loyalty program.
The cash-back incentive, called SpringBack, seems to be the first of its kind for multibrand, single-cart e-commerce sites. Spring began operations in 2014 with 150 brands. According to Katie Tobias, head of brand marketing, the company offers more than 2,000 brands. Essentially Spring acts as the host site for the brands. Spring handles the transactions, but the brands handle the fulfillment of orders.
According to Tobias, new offerings that became available in the fourth quarter include Alexander McQueen, Bobbi Brown, What Comes Around Goes Around and COS.
Spring averaged more than one million monthly unique visitors in 2017. Sixty percent of the average daily visitors are repeat customers, while 40 percent of Spring’s domestic customers make another purchase within 90 days of a prior purchase.
Tobias acknowledged that the 4 percent cash back comes out of Spring’s profits from each order. She said the company chose to do the added-value program for its largely Millennial customer base because it provides “everyday transparent value” in lieu of relying on deep promotions to get her to shop.
“The 4 percent cash back is earned on every single purchase [and shows
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