Cashway was launched and developed entirely with our own capital back in 2016, initially under the name OnlinePromo.bg, but in just a few years it managed to establish itself as a leading portal for developing the cashback concept in online shopping in our country. The business is growing by more than 40% every year, the volume of offers, partners and customers is growing as well which led to the next phase in 2022 year – the launch of the new and transformed platform under the brand Cashway. Success in numbers to date looks like this: Cashway.bg already has over 340 partners, over BGN 420,000 cashback paid and over 90,000 active users.
We believe that the service is just gaining popularity and has the potential for great growth not only in a small market like Bulgaria, but also internationally, as the rate of development of e-commerce is double-digit every year, and the trend is to continue and in the future.
What is cashback in Ecommerce market?
In fact, cashback as a concept is a well-developed concept in many countries in the West, where online commerce is much ahead of Bulgaria. In our country, it is better known in the field of loyalty programs and cashback when shopping with credit cards. The popularity of the Cashway.bg model and our sustainable growth comes from the fact that with the increasing competition in the online market, consumers are looking for the most profitable way to shop. There is a new trend of so-called smart shopping, where more and more consumers are searching to get the best value of their online shopping. Online Cashback platforms give consumers just that – a new portal to save while shopping from their favorite brands, which they do anyway.
What is the value for online businesses?
Starting the project back in 2016, our main goal was to create a solution which provides real value for both sides – clients and businesses. Through the platform, any online retailer can add a new marketing channel to their marketing mix, reaching an audience that has established online shopping habits, shop frequently and can also be targeted precisely. This allows for increased engagement with the audience and tools with which they can be enabled to shop even more often because of the cashback benefits we provide. An active user on the platform spends an average of BGN 300 per month, which is proof of the purchasing power. This is also the reason why some of the most popular brands in our country – in various market categories – trust our service. Some of them are Fashiondays, AboutYou, Answear, Sinsay, Obuvki, Notino, Thebodyshop, Myprotein, Zora, Booking, Aliexpress and many more.
Furthermore, our model is based on performance. Partners pay for results only and in this way, the merchant can always maintain a positive return on advertising spend.
The potential for development is great despite the smaller market in Bulgaria. The significant growth of online commerce and the emergence of ever greater competition between online merchants outline a great potential for the development of services like Cashway. More and more merchants will look for new channels to promote their business, and more and more consumers, in turn, will explore options for smart and profitable shopping.
Cashway mission is to provide platform where people get most value of their spending no matter where and how they purchase, and businesses get most measurable and efficient results from their marketing spend and build true loyalty with their customers