Step aside, Black Friday: ‘Cash Back Day’ puts money back into the wallets of shoppers who spend

AUSTIN, Texas - A new retail holiday that aims to rival Black Friday and Cyber Monday will put money back into the wallets of customers who spend money.

RetailMeNot, a website offering a collection of savings and promo codes, is launching its first “Cash Back Day” on Thursday to kick off the holiday season.

The 24-hour event gives shoppers up to 20 percent cash back on items purchased during that period from hundreds of participating stores, including Amazon, Macy’s, Adidas, Asos, Home Depot, StubHub, Finish Line and more.

RetailMeNot’s inaugural Cash Back Day takes place Nov. 7, 2019. (Photo by Jaap Arriens/NurPhoto via Getty Images)

To take part in Cash Back Day, shoppers need to login or create a free account with RetailMeNot, choose the cash back offer for where they want to shop online, and then make a purchase at that retailer.

Participants can later redeem their total rewards for cash on Venmo, PayPal or as a gift card to the retailer of their choice. According to the website, rewards can take 45 days from the date of purchase to appear in the user’s RetailMeNot Wallet.

"With Cash Back Day, shoppers can save money early and then get their payout right before Christmas for any last-minute and post-holiday needs," said Sara Skirboll, a shopping and trends expert for RetailMeNot.

Other retailers taking part in Cash Back Day include Hilton, Snapfish, Tarte, Academy, Overstock, CVS Photo, Land’s End, Kendra Scott, Talbots, Kay Jewelers, Gap, Canon, J. Crew, H&M and Ulta.

Shoppers can also combine the cash back offer with other codes and sales for additional discounts.

RetailMeNot said the annual shopping holiday will be on the first Thursday of November each year moving forward.

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This story was reported from Cincinnati.