Retail

Yahoo eCommerce Embraces Cash-Back Rewards

Yahoo has added cash-back rewards to its recently launched shopping platform powered by Japan's Rakuten. The rewards will be available for about 50 online retailers in the portal. Users of Yahoo's email service will also see alerts in their inboxes intended to push them toward specific high-value promotions in specific areas of the site. Additionally, Yahoo email users now have an embedded tool within their mail app that allows them a dedicated "deals" view that filters all coupons users receive and notifies them of the most valuable offers before they expire, according to an announcement.

The deals view now features a bar that shows users their cash back balance and which retailers are available for the program.

"At Verizon Media we're closing the loop between content and commerce, and providing engaging journeys for our users to help them discover the things they love," said Guru Gowrappan, CEO of Verizon Media. "Since launching our commerce experiences on Yahoo, Yahoo Shopping and Yahoo Mail, we've made it a priority to create a dedicated rewards program. By combining the power of our intuitive email and shopping capabilities with Rakuten's world-class rewards platform, we'll be able to continue delivering deeper value for our consumers and brand partners."

Amit Patel, CEO Rakuten Americas and Rakuten Rewards, noted that the inclusion with Yahoo gives Rakuten access to an entirely new global audience for its rewards offerings.

"Verizon Media houses a myriad of innovative and industry-leading brands which people have come to trust. Together, we're opening more doors for consumers who seek engaging and rewarding e-commerce experiences," Patel said.

The advance goes along with several uprades and updates Yahoo has made to its eCommerce offerings in 2019. Earlier this fall, the shopping hub added video content that allows shopping as well as editorial across its brands, interactive and hotspot images.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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