Cashback & Coupons site, CashKaro, clocked in $1 Billion in annualized Gross Merchandise Value (GMV) in October and early November as the festive sales ended. The last two years have been big for the e-commerce industry as more shoppers came online due to the pandemic.
Despite the re-opening of offline shopping in 2021, the performance of online sales this year has been record-breaking. CashKaro conducted a survey with its audience to analyse user behaviour going into the sale season and found that 80 per cent of people prefer online shopping to offline shopping this year.
CashKaro offers exclusive coupons & Cashback above discounts on over 1500 sites across categories. This year's annualized GMV in non-sale months averaged around $650-750 Million for the site, which is a 3.5 times jump YoY.
Compared to last year, CashKaro witnessed an 8 times jump in traffic and 5 times growth in sales due to the recent shift in user behaviour.
''We have scaled our performance marketing spends this year by 2 times to leverage the offline to online shift in e-commerce. This year, we've not only seen an uptake in sales but also so much growth in the D2C space as well. In 2021 alone, we have partnered with over 300 D2C brands. We can drive more ROI for our partners compared to previous years, and that can be seen in our GMV numbers.'' said Swati Bhargava, Co-Founder, CashKaro.
The ease of online shopping and the ability to stack sale discounts, coupons, and Cashback on big brands makes e-commerce more accessible to new users.
T2-6 cities have been mega drivers in online sales this year, contributing over 40 per cent of sales. ''We are expecting this boom in e-commerce to continue as we see traditional players like Big Bazaar enter the online scene.'' added Rohan Bhargava, Co-Founder, CashKaro.
The user base has grown by 5 million, closing the total at over 15 million registered users.
(With inputs from PTI)
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)