With more than 56% of web users having shopped online *The South African eCommerce market is poised for explosive growth as consumers’ flock to discover deals online.
With this in mind the founders of Cashbag.co.za, an eCommerce disruptor, has launched a desktop app that lets consumers discover reward-eligible deals online and earn cash back when they shop. According to Kirsty Henderson, General Manager, CashBag’s key differentiator lies in the fact that it reinforces consumers purchase decisions and rewards them with instant cash back on thousands of merchants, globally.
Once shoppers join for free and install the search helper, CashBag alerts them to participating merchants & highlighting savings and special deals, within natural search results. The innovative component is a toolbar that overlays CashBag’s rewards data over the search results, enabling consumers to better qualify and select shops based on not just search engine placement, but also the loyalty and cash back rewards they offer.
Whereas the industry standard for eCommerce conversion rates varies between 2% – 5% depending on the popularity of the store, shoppers referred by CashBag average a 13.7% checkout rate, or a 4x multiple on the market average. Ms. Henderson attributes this significant increase to shopper motivation. “People love deals and when you reassure them they’re getting extra value and delight, it closes the loop on the checkout process and results in significant increased sales.”
CashBag’s game changing technology enables online stores to compete for shoppers’ attention using rebates and rewards, without cheapening their brand or eroding profitability. Whereas Search Engine Optimization or Paid Search Advertising were historically the only levers available to advertisers, resulting in merchants with the largest budgets winning the attention war, CashBag now enables smaller brands to compete evenly, paying a cash back rebate only when a sale is made. According to CashBag, merchants are free to set and change their own reward level & add incentives as their business needs dictate. CashBag integrates seamlessly with most online stores and independently tracks referred transactions through popular affiliate networks like OfferForge.com