Wednesday, 12 March 2014

Getting the Shopoholics richer

No matter how innovative a startup could be, there's one question that haunts all companies, be it small or large - "How do we retain our customers?" All the marketing efforts are focused on this rigorously, albeit a very few of them achieve it, while most companies keep experiencing customer attrition.

So, how can we retain customers!? We could do this, we could do that and that and this...all said and done have you ever thought how it'd be if the answer to this question was embedded in the very business model itself? Quite a thought huh!? Well that's what this startup is doing and it is called 

As the name goes, you make money out of every purchase you make through this site. is an internet portal that aggregates 350+ e-commerce sites for you. So, what's so new about it? Hmm..well there are coupons you get! Oh! i have heard of that too! Well, have you heard of cashback over the regular discounts? For every purchase you make through, you avail a discount on the brand + a certain amount of money as cashback. Let me explain!

So, for example, if you buy stuff from Jabong through Cashkaro, apart from the discount already available, you get an extra 10% cashback. The cash keeps getting accumulated in your account and once it reaches Rs. 250 or more, you can request for a money transfer to your account! Better than asking more pocket money from your parents huh!? Earning more while you spend is a bliss ain't it? was founded by Swati Bhargava and her husband Rohan Bhargava, both graduates of the London School of Economics. Prior to, they setup a similar internet portal called Pouring, which is based out of UK. Both these portals operate on the same context of coupons and cashback - a concept that has witnessed great success in the west and is slowly catching up in India.

In my opinion, this business model serves as a great push to many who still hesitate going online shopping! Also, it holds something for both the seller and the buyer (cashkaro here) which can help them as a great clutter breaker in the virtual market. They have grown rapidly within one year of inception and have been quite active on the social media front as well! 
Does the success of this model indicate that no matter how forward we have come in the line of business, the age old Barter System is still around?

Info and Image Sources:, Google Images