Shaking Up Retail Through Innovation: All About Swiftly’s New Alcohol Cashback Program
As retail technology continues to evolve, it's no secret that both retailers and brands must continue to innovate in order to stay competitive. This is particularly true as players in the beer, wine and spirits industries work to capture customer loyalty and their share of the $283 billion in annual sales that are on the table. Add to that the 5.6% annual growth expected to impact the market by 2027 and time’s never been better to go all in on the right technology.
Navigating the Alcohol Beverage Market
With the alcohol drinks market thriving—and growing—it’s clear there are tons of opportunities waiting to be tapped. But the reality is that it’s a tough market to dominate. For brands, competition is fierce, category ownership in illusive and intricate state and local regulations don’t make things any easier.
The same goes for retailers who work hard to gain customer loyalty through unique savings while offering the tools and technology that shoppers expect from their favorite stores. Attracting and retaining loyal customers is all about savings and convenience and the right Alcohol Cashback Program—like the one recently launched by Swiftly—can make it easy for brands and retailers to offer just that.
Additionally, the program keeps all the regulatory boxes checked. As a third-party go-between, Swiftly lets alcohol brands collaborate with retailers and tap into retail media networks, all while ensuring they stay on the right side of the law.
Revolutionizing the Cash-Back Process
Swiftly’s unique solution is designed to tackle the traditional rebate process's inherent challenges. The Alcohol Cashback Program offers a digital, streamlined experience to consumers, allowing them to receive cash back within hours via PayPal or Venmo. The approach is a stark contrast to traditional methods, which can often take weeks.
This promise of convenience and speed is exactly what shoppers are looking for. In fact, in a recent study conducted by Swiftly, more than 70% of consumers stated that they prefer shopping with retailers or brands that offer cash back on alcohol. And, almost half said they'd use cash-back offers more if the process was simpler. With this new program, Swiftly is hitting the sweet spot by letting shoppers browse deals, activate Cashback and collect their savings at the time of purchase with a few simple clicks.
Powering Brands and Encouraging Trials
Traditionally, alcohol brands have faced unique challenges in marketing their products. Limited ability to raise awareness around cash-back offers has often resulted in reduced trials of new products. New platforms like this aim to eliminate these limitations.
By employing advanced targeting capabilities and a robust advertising platform, brands are afforded the opportunity to enhance their visibility, increase redemption rates, and stimulate trials of new products. In addition, the comprehensive measurement and reporting systems provided through the program capture valuable consumer insights that can guide data-driven decision making.
To sum it all up, participating in a tech-forward, Alcohol Cashback Program is a serious game-changer in the retail and alcohol sectors, creating shopping experiences that fit with how we live today. Partnering with a leader in the industry, like Swiftly, that can seamlessly integrate with your existing mobile app or website is the first step to getting into the game.
If they want to ride the wave of growth that is coming to the alcohol industry, brands and retailers should continue to monitor and invest in this space—this is just the beginning of where retail marketing is headed.
Ready to let Swiftly’s Alcohol Cashback Program work for you? Contact our team today to get started.