In e-shopping era, consumers prefer cashback sites where they can earn while spending.
After online shopping, it’s now all about getting paid to shop online. With the number of cashback sites sprouting each day, consumers are increasingly taking the cashback route while making online purchases on Myntra, Jabong, Yatra, Amazon India, EBay, Flipkart or Snapdeal.
Post buying through these sites, customers end up getting an amount on every transaction, which varies from 1-50% of the sale value.
After a substantial amount has been collected through cashback, consumers can raise requests for transferring the amount to their bank accounts.
“If you go to Myntra or Jabong via us, and shop for say Rs400, we give you back say Rs180 as cashback on your order,” says Swati Bhargava, CEO of cashback site Cashkaro.
The trend of e-shopping, which had taken off some years ago, is now gradually giving space to cashback. A tried and tested concept in the West, cashback is now picking up here, as online shopping sees upward growth.
The digital commerce market in India was valued at Rs47,349 crore last December. It is expected to reach Rs62,967 crore by this year end, according to data by Internet and Mobile Association of India and IMRB International.
Pooja Ashok, a 30-year-old biotech professional, says in the past few months, she has transitioned from mere online shopping to cashback.
She recently purchased clothing and accessories worth Rs3,000. “And managed to get Rs500 as cashback in the bargain. Once the cashback amount reaches a certain limit, I will get it transferred to my bank account.”
The amount shoppers get as cashback depends on the e-commerce sites. While some might give 15-20% of the transaction value back to customers, for other e-shopping sites, it might be 5-6% of transaction value.
Ashok adds that the cashback amount “gives emotional satisfaction. I am not just shopping, but also gaining something in the process.”
Bhargava says cashback sites get affiliate commission from partner brands like Snapdeal, Myntra, Yatra etc, and “we share that with our members.”
According to Ravitej Yadalam, founder of another cashback site Pennyful, the cashback to customers is offered over and above the usual discounts given by shopping sites.
Sites are seeing good response for cashback. Some like Cashkaro are seeing 20,000 people shop every month.
“Though Bangalore, along with New Delhi and Mumbai are key markets, we are seeing customers from places like Mysore as well,” says Yadalam.
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