In August 2020, Savyour launched Pakistan’s first ever-cashback app, bringing a new way for customers to shop online while saving a certain percentage of their money on each and every transaction they make.
Last year, globally over two billion people shopped online and during the same year, e-retail sales surpassed 4.2 trillion U.S. dollars worldwide. In Pakistan, the e-commerce market has posted a growth of over 35 per cent in the first quarter of 2021. However, with a population of approximately 224 million, it still remains to be one of the largest unrealized markets of e-commerce in the world. The past decade witnessed several e-commerce players stepping in the local market and slowly but steadily win over the trust of consumers.
This could have continued to be a gradual process, but the pandemic drastically affected people’s shopping behaviours. With social distancing becoming a part of our day-to-day lives to slow down the spread of COVID-19, brick-and-mortar shopping understandably witnessed a dip. More and more customers became comfortable shopping online; even those who were previously not comfortable with the idea. Almost a year and a half down the road and the world heading back towards normalcy, this shift is predicted to last in the long run as customers have experienced the sheer convenience and better value for money online shopping brings.
Several brands and platforms now run deals and discounts which are only for online shoppers. In August 2020, Savyour launched Pakistan’s first ever-cashback app, bringing a new way for customers to shop online while saving a certain percentage of their money on each and every transaction they make. What sets cashback apart from reward/loyalty programmes is that it is real cash that customers can redeem by transferring to their bank accounts or digital wallets and use as per their own discretion.
There is no compulsion to use them only on Savyour’s platforms. Furthermore, what Savyour offers is triple stacked savings; thus, maximising the financial benefit they can get from any app in Pakistan currently. This means that users are entitled to cashback on top of any brand discounts/deals or bank card concessions which are being offered by the partner brand. In any of these savings offers, there is no catch or hidden agenda. These savings come without any explicit conditions.
With over 250 brands available on Savyour across multiple categories including Fashion and Grocery, customers can save a certain percentage of their online spending by simply routing through the Savyour app. It is a pretty straightforward process, and the cashback is transferred to users’ wallets as soon as the return cycle completes on their order as per the partner brand’s policy. The biggest advantage for Savyour customers is that they save money which they were going to spend anyway. While this is a new concept for the Pakistan market, globally cashback is one of the most popular mechanisms for online shopping and has proven to be beneficial not only for consumers but also businesses. It increases sales, offers incentive to users and allows brands to track ROI in real-time.
