There are several reasons why businesses implement cashback programs:
1. Customer Retention: Cashback programs encourage repeat purchases, helping businesses maintain customer loyalty. 2. Increased Sales: By offering cashback, companies can boost sales and attract new customers. 3. Competitive Edge: In a crowded market, cashback offers can differentiate a business from its competitors. 4. Customer Data: These programs enable businesses to collect valuable customer data, which can be used for targeted marketing and personalized offers.