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Date: 2 months ago   Category: Finances

Illusion of a cashback


The popularity of a cashback grows, it is told in a research of TD group of companies. Consumers spend more if the bank has promised them to return a part of the spent means, but whether there is a real benefit? Photo: depositphotos.com the Consumer who has a card with a cashback spends three times more and more thoughtlessly, than the one who pays off with cash or the ordinary plastic card. Besides, the owner of such card spends for 20-30% more, than planned. They are conclusions of TDI group of companies. According to a research, the popularity of a cashback since the beginning of year has grown twice. Already more than 17 million people use these maps in Russia: the investigation of desire to save against the background of price increase. But in practice turns out exactly opposite.

a Number of banks offer clients something like quest: you buy in shops — partners of bank, in the set quantity, for it points collect and the cashback percent increases. the Client buys

more, than it is necessary for him, economy absolutely, any, the consumer market expert, the CEO of TDI group of companies Natalya Orlova:natalya Orlova the consumer market expert, the CEO of TDI group of companies "Says it is psychology. The cashback, of course, is a powerful incentive which induces people to make purchases. The person will come much more willingly into an outlet when knows that he will receive for it some bonus, than just like that. In general all of us love some buns. For example, if the person receives a cashback, let us assume, at gas stations or in a certain cafe, he begins to come there much more often, making purchases even then when in it there is no need. When we understand that some sum from the spent money will return to us, it removes psychological stress from expenditure per se. The person is sure that he spends money with advantage. At the same time the cashback size, as a rule, doesn't matter. The fact of return is important for the person. Thus, he reduces uneasiness, he loosens controls and dares to spend the much bigger sum, than planned. Holders of cards with a cashback make purchases approximately by two-three times more often than those who pay off with cash and spend for 20-30% more than the planned sum. It is much simpler to person to leave the virtual sum on the card, than real money". Growth of offers on cards with a cashback and bonuses is an attempt of banks to return clients. Because of financial instability and rate fluctuation of currencies, many clients began to pass to cash calculation and withdraw money from bank accounts. This is true, but in a research there is an inaccuracy. Cards with a big cashback, as a rule, belong to wealthy people and financially competent. They also spend more — and really save on it, the analyst of the Opening Broker company Timur Nigmatullin:timur Nigmatullin the analyst of the Opening Broker company "Says there is after all a small distortion of data. The matter is that the card holder with a big cashback, as a rule, is a little more financially educated, at him on

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