Rising cost of living drives half a million shoppers to cashback network Wednesday 25 June 2008 PDF Print The company operating the UK's largest network of consumer loyalty cashback websites has seen a record increase in business – driven by the rising cost of living and the credit crunch. The rate of new members joining to get money off internet purchases from the froggybank.co.uk network is up 64 per cent in the last six months. The network now has 500,000 members. But more telling, there has been a 40% increase in repeat visitors, using the sites for smaller purchases than ever before. The network has 180 sites led by froggybank.co.uk, the UK’s first and only green 100% cashback site. Marketing manager Nadeem Azam said they are seeing many new shoppers claim cashback on relatively small purchases. He said: “Traditionally when people first discover cashback shopping they use it to get money back from a large purchase such as insurance or a major electrical item. “But we are seeing an unusually high number of people registering then immediately claiming cashback on small every day purchases such as entertainment items, or health and beauty products.” He added: “This trend is being driven by people having less money in their pocket because of the rising cost of fuel, food and other items. Cashback websites let people buy the goods they normally get at the prices they normally pay, with a little extra money back.” The online shopping industry is currently worth £12.8 billion in the UK according to Mintel figures, and is forecast to grow to £40 billion by 2012. There are more than 20 million online shoppers who are yet to discover cashback and get back up to 100% of the middleman’s fee on all their online shopping. Shoppers log onto a cashback site before making online purchases from major retailers as normal. The referral fee paid by the retailer to the cashback site is returned to the shopper. froggybank.co.uk has committed to work with PURE the Clean Planet Trust, to offset one million tons of carbon by 2012. That’s equivalent to the annual emissions of 180,000 average UK homes. 100% of the cashback paid by retailers can be turned into charitable donations that will support PURE. Shoppers can alternatively give the money to another charity, or keep some or all of it for themselves. ENDS NOTES TO EDITORS • For any further information or interviews please contact Paul Green on 08452 303049, or email firstname.lastname@example.org • You can find more information at www.froggybank.co.uk/press • froggybank’s carbon offsets are provided by certified and verified carbon credit providers including PURE the Clean Planet Trust • froggybank.co.uk is owned by eDeals UK Ltd, the biggest operator of consumer loyalty websites in the UK. The company operates 180 websites supported by 44 staff. This press release was distributed by ResponseSource Press Release Wire on behalf of Growth UK in the following categories: Personal Finance, Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.