What is ChaChing?
Cha-Ching is a new marketplace where e-commerce brands can list their products on, just like Amazon and eBay, however with complete control that you decide how much ROAS you want to give away for each sale.
The mission of ChaChing is to offer a new set of exclusive benefits to both sellers and buyers that is set to disrupt the market completely.
Benefits For Sellers
- You choose what you pay to generate sales - unlike Amazon with percentages taken plus the need for ad spend, ChaChing is set up to simply upload your products and choose what ROAS you are comfortable paying for each sale per product.
E.g. a beauty retailer happy to pay a 20% margin would set all their products at 20% cost per sale (500% ROAS) and let it run. The higher you bid the more you will show is the only factor here.
- It’s so simple to set up - Just connect with your Shopify or shopping platform and it will pull your products in and you can be live in 30 minutes.
- You keep the data - Anyone selling on Amazon will know it’s frustrating that if someone buys through Amazon you don't get access to the user's email and contact details. This means no remarketing or follow-up emails to cross-sell, upsell and resell at a later date. This is often a crucial revenue driver for e-commerce brands, especially in the beauty and perishable goods spaces.
Benefits For Consumers
Cashback, Cashback, Cashback - There may only be one benefit on this list but it’s a big one! Consumers buying through ChaChing will get anywhere up to 50% of their money back in cashback on the platform.
This is a huge incentive to buy through the platform and is effectively giving them back what a business may have spent on advertising elsewhere.
ChaChings Mission
ChaChing's primary mission is to reduce the high advertising fees that retailers typically pay to major technology companies for online sales. ChaChing achieves this by allowing merchant partners, such as retailers, to set their cost-per-order, with the majority of that cost being directly passed on to the consumer.
For consumers, this model translates into savings of 15% to 50% on their online purchases, with an instant rebate provided after checkout. For instance, if a customer buys a pair of trainers for £100 and the retailer spends £20 on ChaChing advertising, the customer would receive up to £18 back via an immediate transfer to their bank account.
ChaChing would keep the difference.
From our perspective it’s great to see another disruptive brand breaking the rules and taking on the ad giants, who most will agree are constantly increasing the cost and difficulty of advertising.
ChaChing are constantly raising capital to increase funding and have recently moved into the US with their quick expansion plans.
Next Steps
Thanks for reading. If you’re an e-commerce retailer looking to get onboarded quickly please reach out and we can quickly help you get set up (no charge) as we’re keen to help this growing UK business thrive!
For anyone else, download the app and check out the deals!
https://play.google.com/store/apps/details?id=me.chaching
https://apps.apple.com/gb/app/chaching-shopping/id1612514776
Source: Sky News article
