Digital rewards have always had its appeal amongst the public. From a recent study, we found that gift cards & vouchers, e-wallet, and gadgets are the most popular redemption options amongst our users.
We have gathered several data points from our internal database to capture these insights and here are the results.
Based on our research, the highest amount of redemption comes from the e-wallet category, which contributed 60% of the total revenue from the redemption in the first quarter of 2021, followed by gift cards & vouchers that contributed 24% of the total revenue. Both categories have around 17 thousand redemptions in the first three months.
Additionally, gadgets & electronics, home appliances, and pulsa (phone data) are also amongst the highest performing redemption categories. Combined, the redemption contribution reached up to 12% and the redemption quantity reached more than 6.000 from the first three months alone.
As an additional research we also want to know the average redemption value from the first three months in 2021. Hopefully, with these data combined we can come to a conclusion about the buying power of the average customer and the types of items that they love the most.
Based on our research, we found that around 24,000 redemption transactions were made in the range of IDR 100.000 – 199.000 and the average transaction is around IDR 101.000. There is also a significant transaction amount that happened within the range of IDR 50.000 – 99.000 with the average amount of IDR 52.353.
This indicates that most of the customers buying power are around the range of IDR 50.000 – 199.000 and it is advisable for brands to have some redemption options within that value to maximize the redemption amount.
From both research we can conclude that brands can incentivize their customers using the top performing categories which consists of gift cards & vouchers, e-wallet and gadgets, and also provide some item variants with the value between IDR 50.000 – 199.000 to attract customers to redeem their points.
TADA has helped more than 400+ brands to capture, connect, and reward their customers automatically. We help various brands to provide these attractive rewards to effectively retain their customers.
Now it’s your time to provide the best gifts for your customers. Request our demo now to find out more about what can we do to help your business.