6 platforms that you may use to save more during your festive shopping this Diwali

By: |
Updated: October 20, 2019 4:33:12 PM

To minimise the stress like unusually high credit card balances, tighter finances etc, you should control your urge and try to save more as you indulge in festive shopping.

Diwali, Diwali gifts, Diwali sales, Diwali offers, diwali deals, discounts, cashback, TWID, GyFTR, Pennyful, CouponDunia, GrabOnMany people even rely on easy credit options for some extra shopping to take benefits of Diwali offers.

Even as traders provide deals, discounts, cashbacks and reward points, both offline and online, to attract maximum sales, people look for more options to save some extra money as they go overboard to buy things for self, family, relatives as well for giving gifts to neighbours, clients, employees, business providers etc as gifting in this festival occasion is an age-old tradition followed by Indians.

The purchasing spree makes it a golden period for retailers in the country, with industry estimates suggesting that festive sales account for around 20-30 per cent of annual revenue for apparel and lifestyle brands.

While this is great for businesses, this time of the year is the costliest time for shoppers as people often end up buying some extra to avail the attractive deals, discounts, etc and some people even rely on easy credit options for that extra spending.

So, to minimise the stress like unusually high credit card balances, tighter finances etc, you should control your urge and try to save more as you indulge in festive shopping.

To avoid or minimise the after-festival cash crunch, you may use the below listed platforms to make the most of your money.

1. TWID

TWID is a Software as a Service (SaaS)-based Fintech startup or a millennials payment app that aggregates and joins multiple loyalty/ reward points enabling an individual to use them to pay at offline and online stores. These rewards get accumulated into the account of a user but are usually unnoticed by them and there’s hardly any meaningful option to spend on. In order to facilitate consumers utilising the accumulated reward points by making payments at the leading online and offline platforms, Twid has established as a mobile-first global platform. The app (currently available on Google Play) has deep integrated partnerships with banks, retailers, dining, travel, online platforms and much more. It allows the user to keep track of all their loyalty memberships, total accumulated points, their worth, expiry date, transaction history, etc.

2. GyFTR

A subsidiary of Vouchagram India, GyFTR was nurtured and founded by Arvind Prabhakar in April 2012. It is a unique online-to-offline (O2O) platform that facilitates seamless gifting by allowing shoppers to buy instant gift vouchers digitally, which can be delivered to the recipient via SMS, email or even physically. The vouchers may be redeemed subsequently to purchase any product or to avail any service of a set value from leading brands. The platform has tied up with leading banks including HDFC, Axis, SBI and ICICI to facilitate seamless reward redemption, resulting into extra savings. It provides deals on food, travel, magazine subscriptions and fashion.

3. Pennyful

Founded by Ravitej Yadalam, Pennyful was first started in the US with the idea of giving away real cash on customer purchases. After having partnered with 2,500 companies in the US market, Ravitej launched Pennyful in India in November 2011.The company has partnered with more than 500 merchants, including Flipkart, Snapdeal, Amazon, Alibaba, Jabong and Fabfurnish. Besides cashback, it claims to provide customers with instant discounts while shopping online. Pennyful launched its price comparison and product discovery tool for Amazon, Snapdeal and Flipkart in January 2015.

4. CouponDunia

CouponDunia was founded in 2010. This Mumbai-based company lists more than 2,000 online brands including the top ecommerce players like Flipkart, Amazon, PayTM, MakeMyTrip and BookMyShow. Customers receive cashback when they shop through CouponDunia website, which was launched in 2016. They also forayed into brick-and-mortar retail in 2015 and has now tied up with over 200 brands, including big names like Marks & Spencers, Skechers, Calvin Klein and Arrow.

5. GrabOn

Founded by Ashok Reddy in 2013, Hyderabad-based GrabOn claims to have over 4,000 clients including some prominent ones, like Uber, Paytm, Freecharge, Snapdeal, Swiggy and Mobikwik. GrabOn is present across fashion, food, travel, recharge and entertainment sectors and in addition to providing its users with deals, offers, coupons and discounts, the company has recently entered the gift card space. While keeping its focus on the B2C segment, GrabOn is planning to expand into the B2B space.

6. CashKaro

Shoppers can shop from 1,500+ retailers including Flipkart, Myntra, Amazon, etc via CashKaro and earn extra cashback on top of existing deals & discounts being offered by these brands. The cashback earned by shopping via CashKaro is real money that can be transferred to any bank account of the users’ choice.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Embedded value: Know the risks inherent in unit-linked insurance plans
2Health Insurance: Why you need a diabetes-specific health plan
3Online SBI, HDFC, ICICI, or other bank’s customer? Attacked by fraudsters? Do this immediately