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CBA launches ‘CommBank Rewards’ with personalised cash-back offers on everyday spending

CBA launches ‘CommBank Rewards’ with personalised cash-back offers

16 December 2019

The new in-app feature is set to reward customers ahead of Christmas

To mark the launch of Commonwealth Bank’s app feature for eligible* customers, new research has lifted the lid on our shopping habits and revealed that we are a nation on the hunt for a bargain, with more than 9 out of 10 (94 per cent) of Aussies surveyed using shopping hacks to reduce spending.

Aussies surveyed are most intent on saving money on everyday expenses, with food and fuel topping the list; groceries (65 per cent), fuel (55 per cent), and takeaway food (29 per cent), CBA research reveals. With 17 million Australians (89 per cent) already belonging to a loyalty program, nearly one third (31 percent) are deterred by restrictions on where and when they can use their points.

In response, CommBank Rewards will see eligible customers receive cash-back when they spend using their CBA credit or debit Mastercard at brands, including Coles, Caltex, Myer, JB Hi-Fi and Menulog – to reward customers for their spending on everyday purchases.

Kate Crous, Executive General Manager of Everyday Banking, CBA, said: “We’re excited to launch CommBank Rewards for our customers ahead of Christmas. Accessed through our number one banking app, and leveraging the Customer Engagement Engine (CEE) – combining advanced analytics, AI and machine learning – CommBank Rewards is designed to give customers relevant and personalised offers for what they regularly spend their money on. It also has a simple redemption process – it’s as easy as activate, spend money and receive cash-back,” she said.

“The majority of Australians subscribe to some kind of loyalty program, which shows consumers are on the lookout for deals year-round. With the launch of the CommBank Rewards, it’s a way to say thank you to our customers by giving them something tangible back for banking with the Commonwealth Bank in a way that benefits them financially,” Crous said.

The research also uncovers the different shopper personas that make up the modern Australian consumer:

  • The Savvy Shopper: More than half (60 per cent) of Australians surveyed call themselves Savvy Shoppers, making the most of discounts, sales, online deals or marketplaces. They are the most likely to research online before going to the shops (45%) and use shopper dockets to receive discounts on petrol and other items (31%).
  • The Experience Shopper: Instead of purchasing goods, Experience Shoppers are more likely to enjoy shopping for a place to eat (49 per cent) and travel and holidays (44 per cent). Price is a major incentive for this group, and if given a choice between an environmentally friendly product and a similar item at a discounted price they would choose the discounted item (37 per cent).
  • The Sustainable Shopper: One in 10 respondents (12 per cent) identify as a Sustainable Shopper –conscious of the environmental and ethical practices of the brands they purchase from. A third of Sustainable shoppers (32 per cent) try to reduce the cost of spending by buying second hand.
  • The Serial Shopper: Serial Shoppers form the smallest group of Aussies surveyed (6 per cent), who admit they enjoy the experience of shopping. As seasoned shoppers, Serial Shoppers are also keen to reduce the cost of spending by using phone apps to get the best price (27 per cent).

Crous said the findings reveal that a fair price point continues to be a major factor among Australian consumers.“We may have our unique preferences on how and where to spend, however no matter the shopping habits, all Australians want their money to go the distance. This is especially true of the everyday spending that can usually hit consumers the hardest.”

Richard Wormald, President, Mastercard Australasia said: “We’re delighted to continue growing our partnership with CommBank, supporting their strategy to be best in digital and deliver better outcomes for customers. Leveraging Mastercard’s Personalised Card Linked Offers Platform, we have worked with our larger merchant partners to develop a range of compelling and relevant everyday spend offers for CommBank Rewards.”  

For more information about CommBank Rewards visit www.commbank.com.au/commbankrewards or customers can view their rewards in the CommBank app today.

Important information

This study was conducted on the YouGov Galaxy Online Omnibus between 14-17 November, 2019. The sample comprises 1,065 respondents aged 18 years and older distributed throughout Australia. Following the completion of interviewing, the data was weighted by age, gender and region to reflect the latest ABS population estimate.

*Eligible CBA credit or debit Mastercard customers, that are at least 21 years old,   are not in hardship, and are not in default with any CommBank accounts can access CommBank Rewards through the latest version of the  CommBank app.  Terms and conditions apply to CommBank Rewards and can be viewed within the CommBank app.