Young Aussies set to save with cashback rewards from Westpac, Cheddar, and more

man holding wallet with australian hundred dollar notes with money earned via cashback shopping from westpac or cheddar

As Christmas spending goes into hyperdrive, Aussies are looking to get the most out of the money they’re spending. 

Rather than building up shopping debt or racking up Buy Now Pay Later expenses, it seems many Australians are looking to cashback offers as a way to score some serious savings on their shopping. 

A new study from online shopping platform Cheddar showed that young Aussies (Gen Z and millennial shoppers) outspent their Gen X and Baby Boomer counterparts over the Black Friday period by more than 600%. Those young shoppers are also being savvy with their money - its reporting shows that 48% of Gen Zs surveyed have used cashback programs before.

Westpac is one of many big banks hoping to make the most of this trend, partnered with ShopBack to help their customers gain access to a wider variety of cashback offers. Customers are encouraged to install the app and add an eligible Westpac card to be rewarded for their regular purchases. 

For non-Westpac customers, other options are available for customers wanting cashback. Several credit cards are offering enticing cashback deals, and customers are able to use platforms like Cheddar and ShopBack regardless of their bank, aiming to get the maximum money back. Other banks, like Commonwealth Bank, offer their own cashback incentives for select purchases and brands.

While Westpac highlights these offers as especially attractive to young shoppers, everyone can benefit from a bit of money back in their bank account. Make sure to check your own bank’s app to find out if there are any exclusive offers you can take advantage of. Otherwise, there are plenty of external platforms designed to help get you more bang for your buck.

Find out more about how Aussies spent their money over Black Friday. Interested in more ways to earn cashback? Look into cashback home loans.

Find somewhere to put that cashback - compare savings accounts: - last updated 3 December 2023

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