Raiz Rewards purchases have surged as shoppers return to stores across Australia and the nation’s retail industry shows signs of bouncing back from the COVID-19 lockdown.
While most retailers were forced to close their doors in the early days of the pandemic, Raiz Rewards performance shows that shoppers are spending again as restrictions ease, with a surge in August of purchases made through Raiz Rewards at its retail partners across the country.
Raiz Rewards shoppers surge as stores reopen
Our latest data shows shoppers in our Raiz Rewards program shrugged off concerns in August, making $1.5 million worth of purchases and returning monthly total spend to near pre-coronavirus levels.
Rewards reinvested into Raiz customer accounts also climbed in August, up 50 per cent to $90,000, while 16,000 unique rewards were paid out — a 15 per cent lift from July.
The average Raiz Rewards user had $5.62 invested into their Raiz Account or their Raiz Super Account when they shopped online through Raiz Reward at participating partners.
Click here for more info on how Raiz Rewards works and how you can make the most of it.
Raiz Rewards now available at 234 retailers
That number is expected to climb even higher in coming months as shoppers become more active and cash in on Raiz Rewards now being available at 234 retailers across Australia.
With the range of every day and luxury brands available via Raiz Rewards continuing to grow, shoppers can now take advantage of the rewards program at hundreds of iconic brands like Adidas, Apple, ASOS, eBay and Dan Murphy’s.
Ideal for the post-coronavirus world where every dollar counts, the way Raiz Rewards works is that when shoppers purchase from a retail partner using the Raiz link in the app, that retailer will automatically invest a Raiz cash reward back into your Raiz Super Account or Raiz Account, just because you purchased from them.
Participating retailers deposit either a fixed sum or a percentage of the purchase price into your account if you purchase an item from them, helping you to invest in your future.
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If you have read all or any part of our email, website, or communication then you need to know that this is factual information and general advice only. This means it does not consider any person’s particular financial objectives, financial situation, or financial needs. If you are an investor, you should consult a licensed adviser before acting on any information to fully understand the benefits and risk associated with the product. This is your call but that is what you should do.
You may be surprised to learn that RAIZ Invest Australia Limited (ABN 26 604 402 815) (Raiz), an authorised representative AFSL 434776 prepared this information.
We are not allowed, and have not prepared this information to offer financial product advice or a recommendation in relation to any investments or securities. If we did give you personal advice, which we did not, then the use of the Raiz App would be a lot more expensive than the current pricing – sorry but true. You therefore should not rely on this information to make investment decisions, because it was not about you for once, and unfortunately, we cannot advise you on who or what you can rely on – again sorry.
A Product Disclosure Statement (PDS) for Raiz Invest and/or Raiz Invest Super is available on the Raiz Invest website and App. A person must read and consider the PDS before deciding whether, or not, to acquire and/or continue to hold interests in the financial product. We know and ASIC research shows that you probably won’t, but we want you to, and we encourage you to read the PDS so you know exactly what the product does, its risks and costs. If you don’t read the PDS, it’s a bit like flying blind. Probably not a good idea.
The risks and fees for investing are fully set out in the PDS and include the risks that would ordinarily apply to investing. You should note, as illustrated by the global financial crisis of 2008, that sometimes not even professionals in the financial services sector understand the ordinary risks of investing – because by their nature many risks are unknown – but you still need to give it a go and try to understand the risks set out in the PDS.
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Raiz Home Ownership Pty Ltd (ABN 14 645 876 937), an Australian Credit Representative number 528594 under Australian Credit Licence number 387025. Raiz Home Ownership Pty Ltd is 100% owned by Raiz Invest Australia Limited (ABN 26 604 402 815).