New Delhi: Till now discounts have played major role in getting customers’ attention for sales in either e-commerce website or retail stores. But this trend is changing now. Mobile wallet, credit debit cards, coupons and deal websites have started offering cashback. Customers are getting more attracted towards cashback compared to discount. It has been observed that this time in festive season companies like Flipkart, Snapdeal, Xiaomi, Airtel etc. have focused on cashback more than discount.
E-commerce sales and cashbacks
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has released its latest report which expects online sales figures to touch 52000 crores rupees in this festive season which will last till December. As per study of ASSOCHAM, It is also expected to have 5 times sales in this year festive season compared to 2014. However it would be too early to predict the success of cashback based on this study but in coming days cashback is considered as the game changer in e-commerce segment.
More focus on Cashback than discount
Be it the big billion day sale of Flipkart, Be it the great Indian festival sales of Amazon or Snapdeal electronic Monday sales. All of these sales day, focus was on cashback not only this but Paytm even offered cashback in a range of 70 to 100%. On same way, Xiaomi in partnership with digital wallet company PayUMoney launched flash cashback offer of 5%.
On similar lines, Bharti Airtel has started schemes of data cashback and data sharing for its customers. As per data cashback, customer can get 50% data back for data (2G, 3G, 4G) consumed from 12 am till 6 am daily. Paytm is offering cashback from the range of 25% to 90% these days on different product categories.
Cashback: Spent Amount comes back to your pocket
Cashback is a kind of schemes in which customers get discounts on purchases. if you get cashback on your debit or credit card then money gets refunded automatically in your account in around 30 to 90 days. And in some schemes, money get refunded in mobile wallet.