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How cashback works: Smart ways to save when you are shopping online

Websites that compare product prices and offer cashback can help you get attractive deals and discou

If you missed the deals in recent mega sales by online retailers, don’t be disappointed. Several platforms and tools can help you save money by giving cashbacks and alerting you when online retailers lower prices in future. “Shoppers can get many of the products that were offered in the sale at discounted prices a few days or weeks later. Online shopping platforms come up with deals in one product category or the other all year round to attract shoppers. There are, however, a few deals that you probably cannot get again. Such one-off deals are offered to create a buzz around the shopping festivals,” says Swati Bhargava, co-founder, CashKaro.com. During the mega sales that ended, top e-commerce platforms such as Amazon and Paytm sold a 13-inch MacBook Air 2017 for an effective price between Rs 43,500 and Rs 45,000, after various discounts. It’s usually sold between Rs 55,000 and Rs 58,500. It was a one-off deal. But, if you want to buy, say, a Bluetooth speaker or a mobile phone, you can get these again at a discount in the future.

And, some online platforms that do affiliate marketing can help. The big sale events from online shopping websites have also become frequent. Most online players held a sale in the second week of August and another one concluded on September 24. “As e-commerce players try to widen their shopper base and increase market share, they hold mega sales every four-five months,” says Anurag Jain, COO and co-founder at GirnarSoft, a company that owns price comparison website PriceDekho.com. Get cashback on spending: Websites offering cashback on every purchase are increasingly becoming popular. To get more business and widen their customer base, e-commerce players offer commissions to marketing affiliates that send users to their websites. Platforms such as CashKaro.com and GoPaisa.com pass on part of this commission back to shoppers. “The cashback depends on the product category and shopping website. It can range between two per cent and even 35 per cent. We pass on 70-80 per cent of it to shoppers,” says Bhargava. The cashback goes into the customer’s account on these websites and can be used for the next transaction. Some also give an option to transfer the money to bank accounts and mobile wallets.

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First Published: Tue, September 26 2017. 12:19 IST
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