But the social network’s advertising revenue grew 18.4% during the quarter.
TopCashback.com has driven more than $16 million worth of sales to its online stores in 2012.
The USA’s most generous cashback rebates site, TopCashback.com, has lived up to its name by driving more than $16 million worth of sales to its online stores in 2012; less than 14 months since its launch. The staggering total was reached by its users clicking through the website before shopping at one of its 2,300 retailers, which encompass everything from fashion, cell phone carriers, electronics and travel sites such as Kohl’s, Best Buy, Target, AT&T, Hotels.com and Home Depot.
The revenue share these retailers pay TopCashback for the sales generated are paid back to TopCashback’s users in full; 100% of it. TopCashback.com is the only site of its kind to offer consumers this super-incentive in the United States of America.
Last year an increasing number of businesses signed up to the site, which effectively rewards consumers to spend money with its partnered advertisers, in order to prosper from the emerging ‘cashback culture’ that has fast become a savings phenomenon amongst e-shoppers across America and Canada. Encouraged by the success, the business, which is based in the UK, plans to open a fully-fledged US office on the east coast, which will be operational by Easter. News of the expansion comes after a report indicated that retailer spending on affiliate marketing is on the rise and is expected to increase to $4.47 billion in 2016, more than double the $2.08 billion spent in 2011.
Looking ahead to 2013 there will be no resting on laurels, as the cashback giant today announced its launch on a third continent; a website in India. The new undertaking looks promising as India boasts the second largest number of internet users amongst the BRIC nations at 107.3 million. With the figure representing just 8.9% of its population, the potential for growth is staggering.
Natasha-Rachel Smith, Head of Communications for TopCashback (www.topcashback.co.uk, www.topcashback.com and www.topcashback.in) and in charge of overseeing the American arm of the company said: “2012 has been a truly phenomenal year for TopCashback. From celebrating an extremely successful first full year in the US market to entering the global arena with our latest website on a third continent, we’ve made some remarkable accomplishments and created a strong platform for significant growth in 2013.
“I’d estimate there are around 50 million cashback users in the United States, a significant portion of which are still unaware that there is now a free, full-commission-giving, 100% cashback site they can shop through - we see this as a huge area of opportunity. Additionally, in India, although less than 10% of the population is online, that accounts for more than one hundred million people; a substantial audience for us to communicate the benefits of loyalty shopping to. We enter 2013 with enthusiasm, passion and great expectations for the future.”
TopCashback gives 100% of the commission rate it earns from online stores back to its members, and is completely free to join, use and cash-out, with no minimum cash-out threshold. Additionally it allows stores to provide coupon codes to use simultaneously to shoppers earning cashback rebates, to help promote brands and products even further.
TopCashback.com earns revenue from a few, non-intrusive advertisements dotted around its pages. By earning money to run the site in this way, it is able to give its members the very best cashback rates. At present TopCashback.com does not charge retailers for exposure opportunities. It encourages its partners to provide higher rates to reward consumers instead.