It’s probably time to wean consumers off their need to purchase only when there’s a big discount attached to it. Because how long can startups and even established ecommerce companies survive let alone make a profit while spending hundreds of millions of dollars a year on customer acquisition?
As Sandeep Aggarwal, Cofounder of ShopClues and Founder of Droom, was saying at the recently concluded Businessworld Golden Cart Summit, “Consumers must stop thinking of discounts as a right instead of a privilege. Let us [ecommerce companies] breathe.”
The platform which received 20 million dollars from Tiger Global in series B funding in July, 2015, delivers content “in 60 words”. The post read:
“According to
Inshorts Youth of the Nation Poll 2, around 54% Indians would not shop online if there are no discounts, and if the price of a product is same in the retail market. While 42% respondents said that they would shop online without discounts, 4% said they do not prefer buying products online.”
BW Reporters
Regina is a reporter for BW Businessworld. In her previous assignments, she has worked with Independent television Network as a news anchor and reporter in Sri Lanka
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