BENGALURU: Buy One Get One—Check. Upto 90 pct Discount—Check. It is now the ‘Cashback’ gimmick which is in trend to win customers. By far most of us are familiar with the term Cashback. In simple terms, while using cash-back offers the customer is not directly getting the money back into his packet but the balances are saved for his next buy. For instance, when a customer receives a cash-back for his mobile recharge trough Paytm app, the reverted money is saved in Paytm wallet for his next buy on the app.
Therefore Cashback is the new scheme or offer which is slowly gaining popularity in India. So far cash-backs are rapidly used in mobile wallets like PayU, MobiKwik and Paytm and some other food aggregators and etailers.
This new scheme is a win-win situation for both customers and sellers. Sellers on one hand gain life time customers and this way they can prove their company’s potential as well. Customers on the other hand, would be involved in consumption cycle resulting in more spends which is a positive sign in a given economy.
ET reports that, “For the paytm wallet company that is expanding to e-commerce, cash-back promotions bump up mobile recharge orders by 15-20pct, and can more than double ecommerce sales.” So by far it proved successful for Paytm and few others.
The catch is the scheme is driven by customer demand and immense response to the offers. If not for such wide range of customers who are not hesitant to shop via these aggregators, the scheme would never have been a hit. Consider the trust which the etailers in India earned, people are willing to believe in other such offers more than ever.
Also Read: Indian Software Market Grew 10 Pct In H2 2014: IDC
11 Indian Companies In Forbes Asia's Under-Billion List
After Huge Discounts, Cahbacks Attract More Customers
BENGALURU: Buy One Get One—Check. Upto 90 pct Discount—Check. It is now the ‘Cashback’ gimmick which is in trend to win customers. By far most of us are familiar with the term Cashback. In simple terms, while using cash-back offers the customer is not directly getting the money back into his packet but the balances are saved for his next buy. For instance, when a customer receives a cash-back for his mobile recharge trough Paytm app, the reverted money is saved in Paytm wallet for his next buy on the app.
Therefore Cashback is the new scheme or offer which is slowly gaining popularity in India. So far cash-backs are rapidly used in mobile wallets like PayU, MobiKwik and Paytm and some other food aggregators and etailers.
This new scheme is a win-win situation for both customers and sellers. Sellers on one hand gain life time customers and this way they can prove their company’s potential as well. Customers on the other hand, would be involved in consumption cycle resulting in more spends which is a positive sign in a given economy.
ET reports that, “For the paytm wallet company that is expanding to e-commerce, cash-back promotions bump up mobile recharge orders by 15-20pct, and can more than double ecommerce sales.” So by far it proved successful for Paytm and few others.
The catch is the scheme is driven by customer demand and immense response to the offers. If not for such wide range of customers who are not hesitant to shop via these aggregators, the scheme would never have been a hit. Consider the trust which the etailers in India earned, people are willing to believe in other such offers more than ever.
Also Read: Indian Software Market Grew 10 Pct In H2 2014: IDC
11 Indian Companies In Forbes Asia's Under-Billion List
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