New Delhi, Feb 26: Prominent cashback site CashKaro has declared its new venture into the Singapore market with ZoBucks, to offer customers unique benefits and offers.
ZoBucks is the third division of Pouring Pounds Pvt Ltd. At present, the company will operate in three markets with the other two being PouringPounds.com in the United Kingdom and CashKaro.com in India.
The urbanised lifestyle, rich customers and the profoundly advanced logistics network make Singapore one of Asia's most attractive e-commerce markets.
A study by BMI showed that Singapore's e-commerce market has generated revenue worth USD 3,740 million in the current year.
Furthermore, e-commerce transactions are poised to reach USD 10 billion by 2020 and e-commerce would make up over seven percent of all retail business.
To make a visible result, ZoBucks has partnered with over 250+ retailers in Singapore, scattered over various industries such as travel, fashion, electronics, grocery and much more.
Founders of CashKaro, Swati and Rohan Bhargava said, "we are excited to bite into Singapore's cashback industry and the untapped potential of over five million internet users it offers. Having pioneered the Cashback habit in India, we are certain ZoBucks will add immense value to the lives of Singapore's online shoppers as well."
Swati and Rohan added, "affiliate marketing in itself is growing rapidly and south-east Asia can be viewed as a young territory for the cashback industry. We chose Singapore as it is a dynamic market with a deep understanding of e-commerce. In fact, online retailers in India have variously claimed that between 15 percent and 20 percent of their total business comes from affiliate marketing and that it is the most return on investment (ROI) effective channel for them. As we have seen in mature markets like India, cashback deals have become integral to how people shop online and we believe the same shall happen in Singapore."