The banking company announced 5% cash-back categories for the first quarter of 2024, which will rotate quarterly. These categories include deals at grocery stores and the popular grocery aggregator, Instacart.
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GLOChase is responding to the growing consumer demand for food deals by introducing new cash-back offers, in line with the current trend of consumers seeking card-linked offers from grocery stores. The banking company recently announced 5% cash-back categories for the first quarter of 2024, which will rotate quarterly. These categories include deals at grocery stores and the popular grocery aggregator Instacart.
Brent Reinhard, Chase Freedom General Manager, stated, “We’re starting 2024 with a fresh twist on resolutions by introducing new themes for Freedom Flex’s quarterly bonus categories. We want our card members to embrace the new and experience the joy of cash backing while focusing on their health, relaxation, and nourishment.”
It’s important to note that discount retailers and warehouse chains are excluded from this offer, focusing primarily on pure-play grocers and supermarkets.
This move by Chase comes at a time of high demand for card-linked grocery offers. Studies indicate that a significant portion of consumers is likely to use card-linked offers for grocery purchases, with a particular emphasis on personalized offers from grocery merchants. This demand for grocery offers coincides with consumers facing financial pressures affecting their ability to afford basic needs like food and beverages.
The decision by Chase to target consumers’ desire for food deals through new cash-back offers aligns with the ongoing market trends. As consumers prioritize value and affordability, firms emphasizing cash-back deals for grocery stores and eGrocery channels are likely to attract a considerable number of cardholders.
