Cash back rewards are incredibly popular with consumers, viewed as an easy way to score benefits without changing shopping habits. A new survey from cash back website Panda CashBack, though, reveals that small businesses can similarly snag deals by doing procuring goods with vendors that offer cash back deals.
According to Panda CashBack’s research, the results of which were released Tuesday (May 19), found that SMEs can save an average of 10 percent of their annual budget if they purchase goods for their businesses through sites that offer cash back deals.
“Many small business owners try our website for the first time to book a flight or to buy an ink cartridge, but it doesn’t take them long to realize they can use it to buy pretty much anything they buy online,” said Panda CashBack Marketing Manager James Parker in a statement. “ECommerce websites that purchase their supplies online from B2B websites tend to find us one of their most valuable resources.”
The most lucrative shopping categories for businesses are travel, office supplies, computers and electronics, and Internet and software, Panda CashBack said.
The rise in business use of Panda CashBack has led the company to begin working on a new membership level geared specifically for SME owners.
A cash back service for business shoppers could be particularly useful as companies begin to do more of their procuring online. B2B e-retail is expected to reach a value of about $6.7 trillion by 2020, according to Frost & Sullivan. Industry experts agree that B2B buyers want an easy online shopping experience similar to that they encounter when doing their own, personal shopping.
By offering a generally consumer-focused venture, like cash back deals, to businesses, SME owners may be encouraged to shop online more often .