Finance
Future of Cash Back Schemes
When the cash back schemes were first launched, the cynics among the marketing strategists proclaimed that there was no future for them and that they would be consigned to the dustbin of history very soon. Something like that never happened however. Instead, they have gained immense popularity with the consumers of all classes.
It is worthwhile, therefore, to examine the causes of this popularity and try and make a prediction on the future of these schemes.
A study of the customer behaviour has shown that they all like to go for cheap and discounted things (it is a different matter though that discounts can sometimes actually be an eye-wash). While there was a scope of an eye-wash in the traditional shopping, there is hardly any in e-commerce. The reason is obvious: the customers can compare the rates of hundreds of merchants at one site and make out what is what. Tough competition among merchants also ensures that the consumers get real discounts on the purchases they make. The chief cause of popularity of the cash back schemes, we can conclude safely therefore, is the discount factor.
Some of the cash back portals have also started schemes which allow the customers to save money for the education of their children. Others have gone even further, and have launched schemes that will allow the customers to save money for their retirement period. Yet another reason of popularity of the cash back schemes and portals is the fact that you get a sign up bonus when you register for the first time with a cash back portal. You can become a member in minutes and then utilise the services as many times as possible. With so many features and advantages, it seems the cash back schemes are there to stay for a long time. Perhaps they will become even more attractive for the consumers in future due to the innovations introduced every now and then. webmaster Joanne Elizabeth Aphorism Charlie [Munger] and I would be glad to take any money management organization in the world managing more than $US10 billion and we would be willing to bet that their aggregate investment (performance) will be poorer than a no-load, very low cost index fu Warren Buffett
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