You will get a $5 cash bonus when you sign up for an Shopback account and spend at least $20 through their Shopback App using my referral code
What is ShopBack?
ShopBack is a cashback reward program and it allows shoppers to receive a small percentage of their purchases on the platform, paid for through affiliate programs by the merchant.
ShopBack currently partnered with over 1000 brands, including famous online firms Amazon, Booking.com, eBay, ASOS, Zalora, Woolworths Online, Lazada, Uber, Grab, Shopee, Tokopedia, GoWabi, Blibli.com, Alibaba, and eBay.
Sounds good… But what are the drawbacks of Shopback?
When things are too good to be true, it probably is. However, the whole digital internet economy has changed abit of that.
And in the case of ShopBack, it’s in the idea of affiliate marketing.
Sounds like a complicated term to understand, but let me explain it in simple english:
- Sally wants to buy a iPhone
- The iPhone costs $2000
- However, if she goes through ShopBack online portal and clicks through
- She will still pay $2000
Behind the scenes:
- Apple will pay ShopBack 5% = $100 as a “marketing referral fee“
- ShopBack will rebate 2% = back to Sally as “cashback” = $40
- ShopBack earns the balance of 3% = $60 as revenue
I really hope that answers your question and yes, Apple still makes a good amount of money after netting off that referral fees that they paid ShopBack because of the high margins of the products.
That’s all about ShopBack. But I would say the only draw back is having to remember to click through the online portal and some people are simply very lazy to do that.
But personally I have saved $800 in cashback, yes in pure, hard, cold cash based on daily purchases from Shopee, Lazada, ZALORA, and Fairprice Online, Cold Storage online etc. Interesting right?