CashKaro.com, India’s largest cashback and coupons site are expecting to drive Rs 500 crores worth of GMV this festive season (Oct-Dec) as country’s biggest online marketplaces are gearing up for a head to head competition with their flagship sales events.
This GMV is a combined estimate of Cashkaro (Rs 300 crores) and UK based Cashback site Pouring Pounds (Rs 200 crores). With an expected growth of 300 per cent in revenues, Ratan Tata & Kalaari Capital backed CashKaro is expected to credit over Rs 15 crores of Cashback during these three months alone.
The discount sales in the online marketplaces will get people spending on household, electronics and other products, creating huge business opportunities for both online and offline retailers. Ensuring to grab a larger share, retailers are also offering increased affiliate commissions in categories like fashion, beauty and consumables as affiliate sites like CashKaro form about 20 per cent of their business.
For a price sensitive nation like India, Cashbacks have become an indispensable tool for retailers to lure & retain customers.
Adding to the festivity Cashkaro will offer highest cashback rates, exclusive deals/offers from its more than 1000 retailers including Amazon.in, Flipkart, Snapdeal, Paytm, Jabong, Shopclues, Myntra etc. The cashback can be paid to users’ bank accounts as real cash or can be redeemed as gift vouchers.
On the projections Founders of Cashkaro, Swati and Rohan Bhargava, said, “We will see fashion, consumables, health & beauty emerge as top selling categories in addition to mobiles & electronics. We are also expecting a 50% increase in traffic from Tier 2-4 cities as the sales & increased cashback offers will encourage people to come online and shop more. Unlike last year, we will see an equal promotion on both Desktop & App platforms as retailers have realised that both mediums have their own merits and cannot be ignored.”
To capture a wider mindshare during flagship events of rivals, retailers like Amazon.in, Shopclues and more are being aggressive in booking premium inventories on CashKaro.com during that period.