ChaChing® Launch Offers Retailers Chance to Give Back to Consumers

ChaChing® is a digital shopping platform currently in final stage of development. It puts merchants back in control by offering consumers cash back on every purchase and is on a mission to help with the cost-of-living crisis by raising awareness of the hidden advertising costs currently charged by big tech companies.

Global behemoths like Google, Meta and Amazon are driving up online advertising costs for retailers and ecommerce merchants using their platforms. Big Tech’s enormous advertising fees are reducing margins for retailers and raising the cost of goods, increasing the cost of living for families. Big Tech’s auction model has steadily driven up advertising costs over recent years. It has now reached a point where retailers often have to spend between 30% to 50% of the value of every online sale on digital advertising alone.

Unlike major tech giants, ChaChing® gives the majority of the cost per order paid by the retailer back to the consumer – a purchase incentive called payback – whilst ChaChing only retains a small amount to run the company. The payback goes into the consumer’s ChaChing® wallet on the app which can then either be saved, spent, or withdrawn.

The aim of ChaChing® is to ensure customers get a minimum of 15% cashback on all their purchases. Merchants will pay ChaChing® a fixed cost per order who then hand the majority back to the consumer, rewarding the customers, in some cases, with up to 50% cashback from their purchases. 

The ChaChing® team, headed by CEO and founder, Max Sugrue, discovered that due to rising media costs and falling conversion rates, retailers were spending 30-40% of the value of an order made online on advertising alone, a percentage that is currently going straight into the big tech companies’ pockets. 

This added cost of doing business is effectively a tax on ecommerce, levied on everyone selling online. This tax must be borne by either the retailer in the form of reduced margin, or the consumer in the form of higher priced goods. Most retailers have little choice but to pass on costs to shoppers, driving up the cost of living at an already extremely difficult time for many.  

In the US, The Federal Trade Commission has launched legal action against Amazon for taking 50% of retailers’ revenue and driving up prices for consumers. 

ChaChing has already won the support of major UK retailers and leading businesses such as Debenhams, TM Lewin, Gym+Coffee all of whom want to see consumers’ hard-earned money go further. – to help them build their margins, reduce their reliance on Big Tech and help their customers at the same time. 

How ChaChing works for retailers – ChaChing® puts the retailers back in control by allowing them to set their own return on investment and provides a business model that offers consumers 15% to 50% return on all their online purchases. This cost per order is typically pocketed entirely by the major tech companies like Google, Facebook, Instagram, or Amazon. But ChaChing® works differently, converting the majority of the cost per order into a purchase incentive and paying it back to the shopper.   

ChaChing® will:   

• Give retailers access to new customers from their strategic partnerships incorporating multiple customer bases ranging from 160,000 to 19 million. 
• Only charge merchants for completed orders. 
• Allow online retailers to set their own ROI. 
• Allow merchants to control volume and margin – (a higher cost per order will increase the cashback to the consumer and therefore increase volume sales – a lower cost per order will increase their margins – giving merchants back control) 
• Allow retailers to gain incremental sales direct to their website. 
• Credit the merchant with the CPO on returned orders. 
• Ensure merchant partners never pay for clicks or view. 
• Remove risk from advertising spend. 

Max Sugrue, CEO and founder of ChaChing®, said: “We’ve built this platform to give back to the consumer and want to invite retailers to join the ChaChing® movement. 

“As a company and concept that is building rapidly, we’re eager to spread our message about giving back to the communities – whilst ensuring that all our partners and users are getting the most out of this revolutionary new concept.”

Visit chaching.me for more information and download the app via The App Store and Google Play.

Source: ChaChing®

  App, ChaChing, Launch, Mobile