Ever wondered what the word ‘Cash Back’ means? Well, not to worry here is what it means. A Cash Back simply is a means of getting paid by your credit card issuer for using your card. It can be seen as a kind of reward program from the issuer. To know if your credit card issuer offers a Cash Back, check the company’s terms and conditions. Let’s learn ‘Does Food Basics do Cash Back?’.
Food Basics does not give card backs to customers who use their store cards. It is not included in the store’s credit card policy. Although the store does not offer Cash-Backs, there are still some special services the store offers to customers.
In this article, the reasons food basics does not offer cash backs will be examined. Stores that offer cash backs and stores like food basics that do not offer cash backs will also be listed out.
Why Food Basics don’t offer Cash Back?
Below are some reasons the store does not offer a Cash Back to customers who use credit cards issued by the store;
- It is not included in the store’s credit card policy.
- The store offers other complimentary services such as accepting coupons, giving out discounts, rewards, etc. to customers.
- It requires tracking of customers’ purchase history; this might take a lot of time to work on.
- It does not ensure customer satisfaction.
- It requires additional costs to manage.
Stores that do not offer Cash Back
Just like Food Basics, some retail stores are not interested in offering services to their customers. Some of those stores include;
- Pottery Barn
- Restoration Hardware
- Wawa
- Speedway
- Forever 21
- Starbucks
- Hobby Lobby
- RaceTrac
However, you should know that store policy can be adjusted to offer Cash Back. So ensure you check out these stores and their policy to find out if they might allow Cash Back in the future.
Why Stores offer Cash Back?
Encourage customer Loyalty
Before a customer can be able to access Cash-Backs on a card, the card must have been used by many customers for a lot of purchases at the store it was issued. That means, the more a customer uses a card, the more the customer gets rewarded with a Cash Back. When customers find out about this, they tend to work on staying loyal to the brand to get a reward from it. Cash Back is a cool way of attracting your customers to stick to your brand for a year. Even after getting the rewards, the customers would tend to want more from the brand.
Increase sales
When customers buy more in expectation of getting Cash Back, they indirectly help in increasing sales at the store. When Cash Back is attached to a specific product, the product gets sold out faster than the ones without a Cash Back reward on them. For example, when a store places a Cash Back Reward of 10% off on a cereal product, customers will start to buy more of the cereal to be able to get back the 10% of the amount spent purchasing the product.
Attract new customers
This is an easy strategy to attract customers who have been shopping in stores where Cash Back is not given. When prospective customers find out they can get rewarded by the store when they buy more items from it, they will eventually leave their old store to join the one with the Cash Back. This is not their fault though, who would’ve wanted to get back some cash while spending some. With a Cash Back put in place, it becomes easier for the brand to attract prospects to their stores.
Easy shopping experience
One of the benefits of Cash Back is that it provides ease with shopping. A Cash Back policy will usually be placed on certain items at the store. This allows customers to know which item to go for and understand the steps required in meeting a specific Cash Back requirement. To receive Cash Back, a fast and easy process is required; customers are only expected to dip or swipe in the store card at a terminal.
Stores that offer Cash Back
Since Food Basics do not offer Cash-Backs, you might be interested to know that other stores do. Some of the retail stores that offer Cash Backs are;
- Shoppers Food Warehouse
- Family Dollar
- Walgreens
- Hannaford
- Target
- Fred Meyer
- Food Lion
- ShopRite
- Dollar Tree
Although these stores offer Cash Back, their policy can be changed from time to time. So it is advisable for you to always check with customer support to confirm if the store’s Cash Back policy is still being put in place. Some of these stores offer Cash Back in debit cards, personal checks, credit cards and discover credit.
Conclusion
Cash Back allows customers to get access to a wide range of products and services while at the store. Many stores use this not only to appreciate customers for their loyalty but to encourage them to get more products from them. Although it’s a wonderful strategy for brand promotion, it also requires a lot of costs to be managed, little wonder Food Basics was not able to include it in their brand promotion policy.
Frequently Asked Questions
1. Can Cash Back be only given on a credit card?
No, Cash Back can be given both credit, debit, and discover card. It is not limited to credit cards only.
2. Is Food Basics closing down?
Food Basics is closing down. The brand was recently acquired by Allegiance Retail Services in 2015. Although the brand has shut down, the name and trademark can be used by Allegiance Retail Services.
