We know that we all crave for a cost effective shopping and when it comes to the online shopping then people are always trying to get the best deals at lowest price offer. That’s why Gopaisa.com comes in to existence as a revolutionary platform where one can get the highest cashback for a payment and discount coupon or codes for online shopping which are available for a wide range of products like food, books, medicines, electronics, recharge, fashion, lifestyle, travel, etc.
Associated with 550+ retailers
The site provides its users cashback or discount coupons on the purchases from over 550 e-retailers on its platform which includes big names like Flipkart, Amazon, Paytm, Myntra etc.
With over 1.7 Lakh registered users and over 7000 users visiting its page on a daily basis, it has been instrumental in sale of almost Rs. 13 crore for its associated merchants and e-retailers since its inception in January 2016.
Recently the company made a name for itself after becoming the sole company in India to offer rewards on purchase from Flipkart.com. It is the first time when a company associated with coupons and cashback is offering rewards on purchase from Flipkart.
Delhi based company was established by Aman and Ankita in the year of 2012 with the perception to target the primary instinct of an Indian shopper.
Associated With Everything
The company has come up as a disruptive force taking the e-commerce market by storm. The sole purpose of the company is to let the customers enjoy the experience of online shopping with cashback so that online shopping doesn’t hurt their pocket. The best thing about them is that they are associated with almost everything available online whether it is grocery or travel.
Cashback From The Commision Acquired By The Company
Gopaisa.com uses the 80 to 90% of the commission amount from the online retailers to offer cashback to its customers. It works in their advantage with the customers getting motivated for more online shopping which in turn helps them to gain customer loyalty.
How To Avail Cashback
Availing the cashback is very simple process. Users can sign up at the Gopaisa.com website. After that they can select the links of the retailers present on the website and shop from them. Once the retailer confirms the purchase of the product or service, the cashback will be credited to the users account.
India’s First Cashback App
They have also come up with India’s first Cashback App that helps its users with the options like transferring their GoPaisa Cashback redemption to their Bank account, mobile and DTH recharge, transferring to online wallets like Paytm, Mobikwik, PayU. You can also get gift vouchers from over 550 brands through the app. The best part about this app is that cashback offers is also available for orders with COD options.
How It Was Started And The Challenges It Has Faced While Settling
GoPaisa is in business for over three years now and is fully functional and a profitable company. The company has been set a couple of years ago with the concept of cashback offers when it was non existent and almost everyone assumed that it will never be a success.
Founder’s Belief And Indian Psyche Led To Success
But the strong belief of founders and the better understanding of Indian psyche helped them keep their calm and gave them hope of success. Initially it faced some challenges like finding a good team, ties up with brands and most importantly ignorance of the people.
Cashback Concept Was New To Indian Customers
In fact, explanation of benefit of cashback was not a piece of pie and the common concept was to lure the customers with deals and coupons because the concept of CASHBACK was very new and mostly related to credit cards.
But at present, scenario is completely different and this arena is growing more rapidly and now more people understand the concept of cashback in better way and somehow they are accepting it vigorously.
How It Works
GoPaisa works with a very simple concept, i.e. to help its users get back a part of their online spending in form of GoPaisa cashback. It has tie ups with over 550 e-retailers and assists its users with cashback deals, coupon codes and limited period offers through its platform.
Special Traits Of The Company
The thing that differentiates GoPaisa with other websites is that it offers cashback on COD orders as well on top of the existing offers and discounts. It is present in almost all verticals of online shopping whether it is e-commerce, travel or any other service that is provided online.
This gives them the advantage of providing the customers with the motivation to do online shopping and in turn help its partners by bringing in loyal customers over a period of time and that too at a comparatively low cost.
Users of GoPaisa
The new generation of online shoppers prefer mobile over any other option for their shopping needs. According to a report published by Google, 5 million new smartphone users are added every month. So it becomes very necessary to tap on this user base as target customers.
Convenience and mobility has been the defining factors in the modern world of online shopping. App has become a necessity to attract users towards your business whether big or small. Every company is coming up with their app version to tap into this market.
Enhance Your Shopping Experience With Gopaisa
GoPaisa has become the one stop destination for all your online purchase needs when it comes to cashback. With the GoPaisa app, you can enjoy all the benefits of the cashback and offers at your fingertips and can enhance your shopping experience. You just need to download and install the GoPaisa app on your smartphone and you are good to go.
Its Unique Features And Services And How It Is Different From Others In The Same Arena Of Business
A good customer service is the key differentiator in today’s world of hyper competitive market. A good customer experience can help you retain a customer. Apart from this, the site should also provide latest offers and deals to help the users with ease of shopping.
Apart from the latest deals and offers from big brands like Amazon, Flipkart, Jabong, etc, GoPaisa updates their transactions most swiftly so that its users have more option to redeem the cashback they have earned.
- It has ability to collect cashback on more than 550 brands related to various categories like travel, food, shopping, recharge, home furnishing, and many more.
- There are some best cashback redemption options that are available like recharge on mobile or DTH, transfer to Paytm wallet, etc.
- It serves cashback on cash on delivery as well. The cashback will available 24×7 hours without any requirement of coupon.
- Option for instant tracking is available.
- It has also launched a platform for Cricket betting.
- It offers highest cashback rates.
They also come up with unique offers for their users from time to time. During the Diwali festival, they had come up with the Rs. 11 deal where a number of products were available for just Rs. 11. Though the users had to initially pay the whole amount at the partner website, the amount was refunded as GoPaisa cashback. Available products included cosmetics, hard disk, and daily essentials.
With the huge amount of transactional data available with them, they plan to put the same in getting revenue in form of advertisement. By putting advertisement on their own platform and other related advertising solutions, they plan to build a stable business that has a positive cash flow with ever increasing online expenditure of online as well as offline advertisers.
It drove more than Rs 55 crore of GMV for the December month of 2015 and it keeps going up every month at the rate of 20-30%. It is an interesting fact that at the beginning of the fiscal year 2014 GMV was Rs 1 crore.
- Company experiences traffic of almost more than million on both website and app.
- During December of 2015 it experienced 140000 transactions.
- It offers real time redemption of money through payment in to wallets like paytm, mobile or DTH recharge, e-vouchers, payment to bank account, PayU and Mobikwik and all is done within 24-28 hours. This prompts a wonderful experience to the customers.
- It has a strong base of users which is almost more than 1.5 millions and every day more than 5000-6000 users are added.
Opportunity and market size
It is growing with the desire to be a pioneer in this arena and that’s why it has a definite strategy for online as well as offline space.
- According to a study, about 20% of the e-commerce market sale is driven with the assistance of affiliate marketing channels. As the online market is gaining its base in India too, GoPaisa targets to be the key player in this arena with at least 40% share of the affiliate market.
- These days, the estimation of eCommerce market is about USD 10-15 billion and it is expected to grow up to USD 100 billion till 2020.
- Addressable market is expected to be set at $20 billion and likewise the expected commission pool will be $1-1.6 billion.
- Non performance related online advertising space can be a good source of revenue.
- The company plans to be a pioneer in the field of data driven advertising with substantial user wise transactional behavioral data present beforehand.
- In India, the digital advertising expenditure is less that 10% of the overall marketing expenditure but with more number of users switching to smartphones, the number is expected to match the global average of 25% in next few years.
- The company has currently not invested anything in its offline approach but given its great importance on the market, it has been kept aside for the second phase of the growth.
- According to the company, since offline spends covers 90-95% of the spends, larger investment is required for fruitful results.
GoPaisa is working on several strategies and has some plans to strengthen its presence. Founders have desire to turn it as the one point destination for saving. Well they are also looking to stretch its leg towards offline shopping.
The offline market presents the largest opportunity base for loyal customers. The company wants to replicate the online strategy in the offline business where the company will own the customers rest of the thing including deliver and transaction will be dealt by merchants.
According to the company, the online ecosystem can also profit from the above idea just like the offline retailers. As we know, most of the online retailers get customers during the sale seasons which accounts to 2-3 months of the year and most of them face a dry period for the next 9-10 months. The company, through unique advertising solutions via smartphones can provide customers to these retailers throughout the year. The best part about this would be that the retailers need to only pay for the sale and the rest will be borne by the company.