Key Highlights
- Online shopping has seen a boom in the last decade
- Dedicated and combined e-commerce platforms available for different consumer products
- Festival sales and discount promotes online sales culture
Gone are the days when stepping out was mandate for shopping. Be it your monthly grocery shopping or purchasing clothes and appliances, paying visit to nearby shops and showrooms is no more a trend now. Rather, its the e-commerce platforms continue to lure in customers globally and in India for shopping. Major e-commerce giants such as Amazon and Flipkart have fuelled this online shopping culture making it convenient for buyers to shop right from the comfort of the bed. Seasonal sales, festival discounts combined with offers such as no cost EMIs, instant cashbacks, and discounts always make buying more special. Saving extra bucks by applying additional deals is one of our first approaches. Let’s breakdown
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Cashback Defined: What Is It?
Online shopping platforms often provide a promotional offer where the buyer receives a certain amount after making the purchase. Cashbacks are often given by the e-commerce platforms on the purchases made using credit and debit cards of different banks. Additionally, cashback discounts are also applicable on the UPI app transactions. The cashback amount is sent as a refund to the user’s linked bank within a given time period ranging between immediately to a few days or months. Let’s break down the cahback types that you can get during online sales:
- Cashbacks on UPI payments
- Cashback on debit and credit card payments
- Instant cashback on any mode of online payment
- Standard cashback (where remaining amount gets credited after a few days or weeks or months)
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How Is Discount Different Than Cashbacks?
Discounts are different than that of a cashback. This is just like a special offer where the price of product is reduced directly by a certain given amount. And unlike cashback where the offer price is given after transactions, customers need to directly pay the reduced costs with discount offer. This means no waiting to get the additional benefits.
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ChatGPT Vs Discount Benefits Comparison Which One Saves More Money During Sale?
| Money Saving Factor / Features | Cashback Deals | Discount Deals |
| Direct saving | Not applicable | Applicable |
| One time benefit | No | Yes |
| Any conditions apply | Often conditions applied | Limited |
| Refundable | Cashback amount non-refundable mostly | Refunds allowed mostly |
| Suitable for | Repeat purchases or transactions such as bills, mobile recharges, etc | Single time purchases specifically for large appliances for expensive consumer goods |
| Long Time benefit | Yes | Limited |
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Cashback Vs Discount Verdict: Which Should You Consider To Save More Money
Cashback Is Suitable For Extra Savings If:
- You are regularly using some online payment service
- If you make payments via UPI apps or credit/ debit cards frequently
- If you are using UPI app wallets
- If you are okay with waiting for cashback returns and refunds
Discounts Should Be Your Choice To Save Money If:
- You are buying an expensive appliance or gadget
- Upfront discounts is what you prefer
- You are making one time purchase from the specific platform
- If you want to go for direct price cuts and get instant offers
