Coupons and cashback portal Pennyful launches product discovery, price comparison tool

Pennyful.in, India's Largest Coupons and Cashback Shopping site, today announced the launch of its product discovery and price comparison tool. Through this tool, online shoppers can now find the best prices for over 3.5 million products from the top three e-commerce shopping sites: Amazon.in, Flipkart and Snapdeal. The tool will also allow users to see product prices after cashback, which will give them an indication of how much they save by shopping via Pennyful.

The Indian shopper, today, looks towards online shopping as a convenient way to shop, but also as a means to save money. Through the Pennyful product search tool, customers can now not only get cashback or gift cards on their shopping, but also be able to choose the best prices (before and after cashback) from Flipkart, Snapdeal and Amazon.

Commenting on launch of the tool, Ravitej Yadalam, CEO and Founder, Pennyful.in, said, "The cashback industry is certainly growing in India. We were one of the first sites to launch a cashback programme in the Indian market, and today, we are the first to launch a product discovery and price comparison tool here as well."

"Pennyful has already delivered discount coupons, cashback and price comparison in the US market, as Pennyful.com, and we felt that this was the right time to replicate the model in the booming Indian market as well. As a start, we have launched the product search tool for Snapdeal, Amazon.in and Flipkart, as they are currently the most popular sites in the Indian market. We will also be extending the service to our more than 400 partners in the coming days," Yadalam added.

Last year, Pennyful.in also announced the launch of the Pennyful Cashback Notifier, a browser extension which alerts customers of saving opportunities through discount coupons and cashback. The firm has given over Rs 1 crore back to its customers in the form of cash. "We have been successful in garnering traction not only in the number of users we acquired, but also in the number of partners we work with. In fact, when we compare our growth in terms of our customer base with last year, we saw a 150 per cent increase Y-o-Y, and this is expected by 200 per cent this year. From a business perspective, we have been seeing a growth of 300 per cent Y-o-Y and we should be breaking even by the end of this year," said Yadalam.

With the growing popularity of e-commerce in India and increase in the expectations of online shoppers, the market has seen a gamut of deals, discounts and cashback websites like GoPaisa, DesiDime, CouponChaska, CashKaro, CashItback, and many others venturing in this space.