From the Wires
Driving Loyalty: Cobone Reports 40% Increase in Repeat Buyers
By: PR Newswire
Nov. 4, 2012 01:01 AM
DUBAI, November 4, 2012 /PRNewswire/ --
MENA's fastest growing loyalty program proves its value with survey results
Cobone, the MENA-based discounted ecommerce website, has announced that its recently launched loyalty scheme has attracted over 100,000 new members in one month, indicating the strength of its offering to the Middle East market.
"Loyalty has become a new pillar for Cobone.com. Our customers have embraced our loyalty initiatives, with 5% of our rewards members purchasing more than 10 times in the last 4 weeks." said Paul Kenny, CEO of Cobone.com.
A recent Cobone survey conducted with 10,000 respondents showed that 63 percent of customers had purchased between 1 and 3 deals from Cobone in the last three months, with another 19 percent of frequent shoppers having purchased between 4-10 deals in the same period.
The survey indicated that 82 percent of respondents were swayed by price when considering purchasing a deal. The discount on offer, location of the deal, and the brand making the offer were also important factors.
Over 70 percent of respondents were highly interested in travel deals. Other popular categories include food & beverage, electronics, fashion and health & beauty.
"Cobone has seen significant growth in the past quarter as we have focused on both loyalty and innovation within the business. In the past two months we have launched a shopping cart, Cobone Rewards Program, and a hotel search and booking engine being the latest addition to the Cobone portfolio." Added Kenny.
Launched on the 28th of August 2012, Cobone's loyalty programme has already gained over 100,000 members that have spent over 1 million loyalty points with the company. The launch month saw repeat transactions rise by 40 percent over the preceding month, with repeat visits increasing by 60 percent.
"Customers can earn Cobone Rewards points by visiting and shopping on Cobone.com every day. By sharing the deals through Facebook, Twitter, Pinterest and Google+ customers can receive additional points to spend on the Cobone catalog. The programme has already rewarded 300 million loyalty points in just over a month of operation." Concluded Warrick Godfrey, CMO of Cobone.com
Launched in August 2010, Cobone.com is one of the fastest growing web sites in the region, currently with over 1,700,000 members and over $74 million dollars in savings (as of September 2012). Cobone.com gives its customers the chance to experience their city's best offers on spas, restaurants and outdoor experiences with discounts from 50 per cent to 90 per cent. A new deal is featured every day and customers are encouraged to invite their friends and family to take part in the deal, earning extra credit in the process. Cobone.com has evolved into a value ecommerce platform; customers can now also enjoy the latest electronics, fashion and household products on the site. Shopping on Cobone.com is safe and easy, and offers members all forms of payment options including credit cards, cash on delivery, Paypal, CashU, and OneCard.
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