Over 100 merchants in Thailand are already onboard the platform. These include online travel booking websites Expedia and Booking.com, beauty platform Sephora, e-commerce giant Lazada, as well as ride-hailing services Grab and Uber. Consumers can expect to receive up to 30 per cent in cashback when using ShopBack.
“Online shopping in Thailand isn’t a trend. It’s part of the everyday retail culture in 2017. We’re discovering ways to connect merchants and shoppers in a way that creates added value for both parties,” said Kawin Prachanukul, Co-founder and Country Head of ShopBack Thailand, in a press statement.
Founded in 2014, ShopBack now operates in six markets in the region. Besides Thailand, it is also present in Singapore, Malaysia, the Philippines, Indonesia, and Taiwan. It has received over US$1 million in funding from Accel-X and East Ventures.
According to a media press release, ShopBack currently has over three million users. Merchants on the platform receive over US$20.3 million in sales per month. To date, ShopBack has paid over US$10 million in cashback to its customers.
“Particularly for millennials who enjoy shopping online, ShopBack redefines the shopping experience, adding extra value and influencing shopper’s behaviour. The regional success of ShopBack is proof that the Cashback platform appeals to shoppers who want the convenience of ordering online and appreciate the added Cashback incentive,” said Prachanukul.
In Thailand, ShopBack will face competition from homegrown player 500 TukTuks-backed Dealcha!
Image Credit: ShopBack