Rakuten Rewards Canada, the leading shopping platform that offers Cash Back and rewards, recently launched a new initiative to support Canadians purchasing real estate. The new 'Make Your Move' will allow Canadians who purchase a home through Rakuten’s eligible partners can earn up to $25 Cash Back for each $10,000 of completed real estate transaction value.
According to the brand, "The average price of a home in Toronto in May was $1,254,000 which means that members can earn over $3000 in cash back. The average price of a home in Canada is around $715,000, which is almost $1,800 in cash back."
In addition, the Make Your Move Program gives members other ways to earn Cash Back throughout the home buying and renovating process. This includes checking their credit score with partners like Borrowell, purchasing high ticket items like appliances and electronics through partners like Best Buy, and using renovating partners like The Home Depot.
Home Purchase Rewards
You Can Earn Cash Back on Home Purchases with This New Rakuten.ca Initiative
Trend Themes
1. Cash Back on Home Purchases - Businesses can innovate by launching similar cashback programs on home purchases to attract homebuyers and earn customer loyalty.
2. Partnerships for Homebuyers - Disruptive opportunities exist for businesses who partner with homebuyers to offer complementary products/services during the home buying experience.
3. Real Estate Transactions and Rewards - Businesses must consider providing additional rewards or incentives for customers who complete real estate transactions through their platform or service.
Industry Implications
1. Real Estate - Players in the real estate industry can consider offering cashback or rewards for homebuyers who complete their transaction using their service or platform.
2. Retail - Businesses in the retail industry can offer complementary products/services to homebuyers as part of a partnership program to earn customer loyalty and drive sales.
3. Fintech - FinTech companies can partner with homebuyers to provide credit score check services as part of a rewards program or partnership scheme during the home buying process.