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Cashback and Coupons Influencing Ecommerce
Discounts can be various types as mentioned before but giving discounts is what is influencing the Ecommerce business. A few pointers:
- It’s a great idea to offer free shipping as people tend to abandon their cart sometimes seeing the shipping charges. Amazon Prime for example is an incentive for people to buy because Prime customers inevitably enjoy free shipping. This free shipping concept plays on the psyche of the shopper and gives them the confidence to shop for more. How you handle your shipping charges as a retailer is your smartness, possibly by hiding them in the actual price and yet keeping it attractive enough.
- Cash backs are a definite incentive to spend more money and increases sales. People think that it is cheaper to shop online. Hence there has been a higher rate of conversion. This is their perspective which has come into play as a result of the cash back offered by sellers. It is interesting to note that at present the cash back and coupons market is valued at 500 crore and growing! It is essential for a seller to opt for cash back as smart customers always look for bargains as these.
- Seasonal offers, Festival or Black Friday sales have become the order of the day. Consumers expect them and retailers provide them. Today’s customers are price sensitive. They even regard discounts as little treats to make them happy. The idea here is to be innovative in the offers so that new customers come every day because increase in traffic ensures growth in revenue.