Indian festivals have seen a drastic change in terms of purchases. The 90s kid might have fond memories of visiting the market before festivals to buy clothes, crackers and sweets but the 20th-century millennial skips the hustle and bustle of the market to buy the same things at the click of a mouse.
With the internet and the rise of smartphones, several ecommerce platforms have made their way to become important destinations for festival shopping.
While prices of commodities are usually expected to rise during the festive season, ecommerce platforms have made it big by offering rocket-high discounts. According to Red Seer Consulting, the ecommerce industry is set to grow more than $3 billion in sales during this festive season.
Next enters the cashback and coupons’ marketplace.
Growing at a parallel and rapid pace along with ecommerce market by providing more discounts, these companies aim to make you a ‘smart buyer’.
As Diwali gets closer, ecommerce players are gearing up to host huge sales and deals across their platform. To help you save as you indulge in some festive shopping, YourStory lists cashback and coupons companies that can get you to buy your favourite dress at a jaw-dropping price.
This New Delhi based startup was founded by Aman and Ankita Jain in 2012. GoPaisa offers deals and cashbacks on travel, lifestyle, fashion and electronics. The company claims to have tie-ups with more than 1,500 ecommerce platforms, including Flipkart, Amazon, HomeShop18, Snapdeal, MakeMyTrip and pizza chain Dominos.
Hyderabad-based GrabOn was founded by Ashok Reddy and Bhanu P Raju in 2013. It claims to have over 4,000 clients including Uber, Paytm, Freecharge, Snapdeal, Swiggy and Mobikwik.
GrabOn provides its users with deals, offers, coupons and discounts across fashion, food, travel, recharge and entertainment sectors. The company's recently entered the gift card space. With a focus on the B2C segment, GrabOn is planning to expand into the B2B space.
Backed by Landmark IT solutions, it secured a funding of $250,000 in 2014.
Times Internet-backed CouponDunia was founded by Sameer Parwani in 2010. This Mumbai-based company lists more than 2,000 online brands including the top ecommerce players like Flipkart, Amazon, PayTM, MakeMyTrip and BookMyShow.
It claims to have 7.5 million email subscribers and more than 2 million app downloads.
Customers also receive cashback when they shop through their website, a service they launched in 2016. In a previous conversation with YourStory, Sameer said that CouponDunia has been doing over a 1,000 offline transactions each day.
In 2015, they also forayed into brick-and-mortar retail. CouponDunia tied up with over 200 brands, including Marks & Spencers, Skechers, Calvin Klein and Arrow.
Bootstrapped company GyFTR is a subsidiary of Vouchgram India and was founded by Arvind Prabhakar in April 2012. It is an online-to-offline commerce solution facilitating peer-to-peer gifting across multiple geographies.
GyFTR facilitates gifting by allowing users to buy gift vouchers online that can be delivered to the recipient via SMS, e-mails, and even physically. It provides deals on food, travel, magazine subscriptions and fashion.
Founded by Ravitej Yadalam, Pennyful was first started in the US with the idea of giving away real cash on customer purchases. After having partnered with 2,500 companies in the US market, Ravitej launched Pennyful in India in November 2011.
The company has partnered with more than 500 merchants, including Flipkart, Snapdeal, Amazon, Alibaba, Jabong and Fabfurnish. Besides cashback, it claims to provide customers with instant discounts while shopping online.
Pennyful launched its price comparison and product discovery tool for Amazon, Snapdeal and Flipkart in January 2015.
Besides these, there are other cashback companies making their mark in the industry. Kerala-based Indiancashback was founded in January 2014. It claims that it promotes online shopping by enabling cashback directly into the user's bank account. Other players include PaisaWapas, CashKaro, Sitaphal and Cash2Kart.