Cashkaro to drive Rs. 300 crore in GMV this festive season

| Updated: Aug 23, 2017 11:20 IST

New Delhi [India], Sep 22 (ANI): With India's biggest online marketplaces going head to head with their flagship sales events CashKaro, India's largest cash-back and coupons site is expecting to drive Rs. 500 crore worth of GMV this festive season (Oct-Dec). This said GMV is a combined estimate of CashKaro (Rs. 300 crore) and UK based cash-back site Pouring Pounds (Rs. 200 crore). With an expected growth of 300 percent in revenues, Ratan Tata and Kalaari capital backed Cashkaro is expected to credit over Rs. 15 crore 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. Ensuing to grab a larger share, retailers are also offering increased affiliate commissions on categories like fashion, beauty and consumables as affiliate sites like CashKaro form about 20 percent of their business. For a price sensitive nation like India, Cashbacks have become an indispensable tool for retailers to lure and retain customers. Adding to the festivity CashKaro will offer Highest cash-back rates, Exclusive deals/offers from 1000+ retailers including, Flipkart, Snapdeal, Paytm, Jabong, Shopclues, Myntra etc. CashKaro Cashback will be paid on top of all the crazy sale deals coming up this festive season. This Cashback can be paid to users' bank accounts as real cash or can be redeemed as Gift Vouchers. On the projections Swati and Rohan Bhargava - Founders, said, "The last quarter (Oct-Dec) usually generates a major chunk of sales for retailers due to the festive season. We are expecting a 300 percent increase in GMV from Oct-Dec, driven by sales on unicorns like, Flipkart, Snapdeal, Shopclues and Paytm. We will see fashion, consumables, health and beauty emerge as top selling categories in addition to mobiles and electronics. We are also expecting a 50 percent increase in traffic from Tier II-IV cities as the sales and increased cash-back offers will encourage people to come online and shop more. Unlike last year, we will see equal promotion on both Desktop and App platforms as retailers have realized that both mediums have their own merits and cannot be ignored." To capture a wider mindshare during flagship events of rivals, retailers like, Shopclues and more are being aggressive in booking premium inventories on during that period. (ANI)