A friend of mine owns a mid-sized supermarket in Bengaluru and one fine day, I got a ping from her on WhatsApp. She required a small help from me – She wanted to transfer Rs. 10K that her vendor had deposited into her Paytm account to her savings account. Well, she could have done it herself but due to the Rs. 10K limit in Paytm Wallet, she had to take this route. Doesn’t this sound very familiar 🙂 Gone are the days when we were required to carry huge amount of cash since “Digital” payments has completely taken over the usage of plastic money.
Be it transport service, shopping, ordering groceries, payment of fees etc. there is no Vertical that is left un-touched by Digital payments. Things are getting better with the current government’s push in making India a “Digital India”. The Union Budget 2016 stressed upon Digital literacy even for rural households which is great news for Digital startups. When we discuss about Digital, one sector that needs to have a huge mention is “e-commerce” or “Online Shopping”. With the advent of e-commerce, offline shopping slowly & steadily moved online and sites like Flipkart, Amazon, Snapdeal, Shopclues etc. became the new-age shopping destinations.
Customers are lured to these sites primarily due to the “Heavy discounting model” followed by most of these companies in order to gain significant market share. Leading e-commerce companies created the “Discount Economy”. The usage of credit cards increased considerably and next innings in the online commerce commenced with “Digital Wallets” [Closed & Semi-Closed wallets] where Paytm, Freecharge, Mobikwik etc. provided the facility where customer can store money in their digital wallet. Apart from the deals, discounts & coupons in the online shopping world, one thing that has been disruptive in the recent times is the extra cashback offering on top of your shopping bill.
The “Consumption Economy” has now transformed into “Cashback Economy” where along with discounts, customers also get cashbacks [similar to cashback’s offered by many credit cards] and the money is stored in their “digital wallet”. With the rise of online commerce and cashbacks, new spring of startups emerged that operated in the space of Cashback, Price Comparison and Couponing. Some of these sites also offered cashback when user performs mundane tasks e.g. Installation of UC Browser on Android phone, keep for 10 days and user gets Rs. XXX in their wallet. This money can be later used for mobile/DTH recharge or for online shopping.
Cashback on purchase coupled with Cashback on performing tasks is a formidable combination. Dealsnprice is a startup that is passionate about offering cash backs on your online shopping across e-commerce players and finding Coupons that suit your requirements. They operate with the motto – Spend Less, Save More. It is a very handy option when you have made the decision to buy a particular product but you are still in search for the “Best Deal” 🙂 Dealsnprice aggregates products from sites like Flipkart, Myntra, Snapdeal, Jabong & many more.
Though there are so many Cashback & Deal websites, this startup has a differentiating factor – Other deal sites list only a handful number of deals or coupons whereas Dealsnprice adds New deals & Coupons to it’s database every 15 minutes. To stay true to it’s mantra, this startup passes the major portion of its commission which they receive from generating sales for their e-commerce partners to it’s customers. This means that you not only get your favourite product at the “Best Price” but also get “significant cashback” with every purchase.
If that’s not all, Dealsnprice also rewards it’s users for performing tasks [some of which were mentioned earlier] on their Android application. You can use those reward points for recharge etc. In a nutshell, cashback and coupon websites are an icing on the cake since they spoil customers by pushing them to spend more so that they can save more 🙂
[Image Credit* – AVBob]