There was a time where the famous and highly admired Spanish painter Pablo Picasso once said: "Everything you can imagine is real." And true enough, his words were able to uphold the standards of our living today. With the expectations that are rising in this dynamic-driven society, what may seem like a wishful thinking could turn into something real at any time. If we are able to navigate our lives with just a few clicks, what else is out of reach? Similarly, who would have thought that modern day spending could mean receiving cashback for something as effortless shopping?
Well, apparently this is the practice that many online sites are adopting nowadays. However, the concept of cashbacks is far from new and it is something that we are cultivated with for quite awhile. The practice has been embraced by credit card loyalty programmes and most recently, being used by online cashback sites and mobile wallets operators.
As compared to other promotional methods, offering cashbacks is considered one of the more creative ways of increasing shoppers’ motivation. While cashbacks on shopping sites are relatively fresh in consumers’ mind, it is gradually making its way up and is getting its fair share of notice by consumers. Most importantly, this too-good-to-be-true mechanism is redefining consumer’s idea of loyalty. Gone were the good old days of collecting discount coupons from newspapers, as new players in the market are uncovering how this new way of marketing is winning its way to shoppers’ hearts.
Cashback incentives: A new alternative in online shopping?
Online shopping is no longer peculiar in the eyes of tech-savvy shoppers, as it has since changed the game of the industry. Needless to say, shoppers are engulfed with the number of online or offline stores available, where they all share the same agenda - to stay in consumers’ mind. The truth is, most people are not attached to just one brand, and earning their loyalty takes more than just offering competitive prices. Not to mention that more brands are also coming up with their own loyalty programmes in hopes that they could increase their stakes in shoppers’ memory.
While it does seem like the tactics used are getting comfortable in the market, this new marketing mechanism could be the one that really differentiates itself from the rest. Online cashback programmes are introduced to increase the frequency of transactions among existing customers. The idea is simple but it also comes with its own set of conditions where users are supposed to understand it before making any decisions.
Here’s how it works. Instead of shopping directly at the retailer’s online store, consumers browse through their products via a cashback site. Once the purchase is completed via the cashback site, the retailer will then pay a commission into the shopper’s bank account or cashback account where they could either save it or spend it on something else. Depending on how frequent you shop, it could add up to a significant amount in a long run. However, shoppers would need to compromise as it could take up to months before the cash is credited into the account. A common misconception generated is assuming that the cash will be received the next day.
How far can it bring shoppers?
For some of us, our expenses can be quite overwhelming to bear, especially if we are living in the city. And this could be just why most of us are constantly looking at ways to shave costs. Apart from shopping at physical stores that offer attractive prices, perhaps shopping online at these cashback sites might be worth exploring, considering if you are an active online shopper. It is after all a win-win situation for both sellers and buyers; as the values are shared by both. Consider this, if you are going to purchase an item from a particular retail store, why not conduct a simple search to find out if they appear on any cashback sites beforehand? Even though it takes an extra step and a bit more time, earning back some of the money spent definitely does help to keep the wallet less tight.
Cashback sites are not only encouraging shoppers to shop smart, but they are also offering consumers another alternative in their shopping practices. However, it is very unlikely for a perfect solution to exist. Consumers also hold the responsibility to ensure that they get an acceptable deal for the money spent. Stay alert and informed of the product pricing from time to time and be aware of getting lured into a tempting cashback reward when you can get it cheaper elsewhere.
Likewise, the same theory applies to online business owners; as it serves as a reminder to practise cautious operating procedures to ensure the safety of online buyers. There might be countless e-commerce sites to choose from but a secure site is also one of the key deciding factors for customers to consider when it comes to future repurchasing. To know more about setting up an e-commerce site with promising solutions, feel free to stay in touch with us through iPay88 Academy or subscribe to our iPay88 newsletter for more informative news that could possibly be an inspiration to your next ideas.