In the Cashback space, CashKaro has made a name by offering extra cashback and coupons across product categories available with 500+ retailers including Amazon.in, Shopclues, Paytm, Jabong etc. Real cash is provided by the organisation and the service offering covers basics like giving Cashback on mobile recharge, paying electricity, phone, mobile bills, DTH recharge- something almost every individual needs!
Swati Bhargava – Co-Founder, CashKaro.com enlightens Retailer Media how her money saving website is beneficial to customers and retailers.
Tell us about the cashback model followed by you.
CashKaro.com is India’s largest Cashback & Coupons site and works on an affiliate model. When members visit their favourite site like Amazon.in, Paytm, Snapdeal, Jabong etc. via CashKaro and then transact; affiliate commission is credited to us. A large part of this commission is then paid back to users as Cashback. This cashback is in the form of REAL CASH. Best part is that Cashback is always paid over and above coupons, ongoing discounts and all other deals offered by retailers.
Today, e-retailers have recognised CashKaro.com among their top performance marketing channels which has a high ROI. The Cashback model not only reaches out to new users but is driven by conversions as opposed to their other marketing channel spends.
What changes have you seen in the cashback industry?
Visiting a Cashback site has now become a default shopping gear but when we launched CashKaro.com in India in 2013, the idea of Cashback and to some extent the concept of Affiliate Marketing was quite new. Seeing our success other Cashback sites have come up (like it happens in all successful industries) though I think it as our achievement. The model has generated ‘Confidence’ among users, retailers and in the industry as a whole. Today, retailers have recognised the cashback model and it is now considered as part of their high ROI generating marketing channels.
How do you place yourself among other cashback sites?
CashKaro.com is the market leader in the Indian CASHBACK space. Being the only externally funded Cashback site in India, it has helped us stay far ahead in the game. Therefore, our traction, relationship, commissions are higher than others. The CashKaro brand name is now synonymous to Cashback and savings and we are 3x – 20x times larger than other cashback sites. We have a much larger team than our competitors which helps us service our customers better. Compared to competitors in the Coupons & Price Comparison space; the EXTRA CASHBACK that CashKaro offers makes the best value proposition for the naturally inclined Indian online shopper seeking BARGAINS.
How have retailers and consumers benefitted from your site?
Retailers- CashKaro drives targeted users to retailers and are only paid on performance and generated sales thus making CashKaro.com as one of top marketing channels.
Users–CashKaro acts as a singular platform where users can SEARCH, COMPARE PRODUCTS & PRICES and EARN EXTRA CASHBACK over and above coupons across retailers. This added features help the user in making an informed purchase and save every time; making CashKaro.com the cheapest way to shop online.
What is your next strategy for the retail market?
Over the next 6 months we are planning and strategising to list around 50 global retailers, the likes of which include, Macy’s, Bloomingdale’s, House of Fraser, River Island, Lookfantastic etc. on CashKaro.com. These strategic partnerships will enable us serve our aspirational Indian online shopper to shop from International markets too.
What has been your growth parameter and where are you headed now?
Growth parameter for any successful company is a function of maintaining a good unit metric and improvising from time to time to achieve milestones. We have been consistent with 30-40% growth month over month and now enjoy a savvy user base of 1.5 million. So far we have enabled more than Rs 350 CRORES of retail in India and have credited more than Rs. 15 Crores as Real Cashback. We expect to cross Rs 1000 crores in GMV and credit more than Rs 35 crores as Cashback in the next 6 months.
What changes have you observed in the ecosystem for startups over these years?
The Indian start-up ecosystem has taken off and is coming into its own in the last few years. We can safely say that start-ups are not a phase or passing trend but are here to stay. With the sheer scope, accelerated growth and potential numbers, it has formed the backbone of the ecosystem which in turn is playing a key role in the growth of the economy. The size of institutional funding has grown and with the emergence of start-ups, the government’s priorities seem to change depending upon the need of the hour. The policies for start-ups are going through a revival process to make sure it is supportive of these new businesses. The scenario is totally changed now. This is also evident by the growing number of tier 1 B-school and post graduates who opt to work in start-ups instead which was not the case a couple of years back. The future is here!
What has been the role of Nasscom in your venture?
CashKaro.com is a premium member of the NASSCOM 10,000 Start-Ups. We have associated with NASSCOM on various initiatives and campaigns providing a platform to young entrepreneurs. Recently, on Women’s Day we did a campaign together#SheCEO - to encourage female entrepreneurs build a sustainable business model and guide them in the right strategic direction.
I was also selected for the coveted Blackbox Connect Female Founders edition this year which took place at Silicon Valley, California. Blackbox Connect had partnered with NASSCOM 10K to select the India young entrepreneur.
Any tie ups with global retailers?
As mentioned earlier, CashKaro will be collaborating with 50 prominent international brands over the next 6 months. Companies like Macy's, Banana Republic, Bloomingdale's, Victoria's Secret and GAP are likely to come on board. We have already partnered with Alibaba Wholesale and Ali Express providing Cashback on both the sites. Also, when Expedia and Hotel.com started promoting themselves in India, CashKaro was among the first money saving websites to tie up with them and offered up to 6% cashback.
How do you go about doing technology up gradations?
Catering to a large traffic we regularly keep on upgrading our technology as per the trend in the market. Upgrading our tracking systems remain our priority all throughout. Currently, our technology is based on L.A.M.P (Linux-Apache-MySQL-PHP).