25 September 2018, Mumbai : GrabOn, a coupons and deals startup based out of Hyderabad, has recently moved into the Gift Cards space citing a massive 3X year-on-year growth of the gift card industry as a lucrative opportunity. This new venture is expected to bolster the profit margins of GrabOn by 20%, pushing them and the coupons & deals space towards a brighter future.
With an aim to win over 40% of the Gift Cards space by 2020, GrabOn hopes to establish itself as an irreplaceable shopping companion for every Indian shopper in the next 5 years.
The coupons company hopes to capitalize on the upcoming festival period, which has recorded significant spikes in Gift Card sales. When asked about the operations, Mr. Ashok Reddy, Founder and CEO, GrabOn, said, “Innovation has always been the focus of our organisation since day 1. We as an organization have made a conscious effort of providing the online shopper the best couponing experience he/she has ever had. Customer feedback and insight combined with cutting edge technology has helped us retain the #1 spot in the industry. We want to implement the key learnings and user-behaviour patterns that we have gained through experience operating in the coupons and deals space and bring them over to the Gift Cards market.”
Boasting 4000+ brand associations and strategic alliances, GrabOn continues to surge ahead of its competition beating them by an average of 35% in terms of monthly visitors. Tie-ups with top players across various verticals like aviation, banking, communication and entertainment, GrabOn has successfully conquered the couponing space.
GrabOn is India’s market leader in the Coupons and Deals space. Founded in the year 2013, this Hyderabad based startup is known for the seamless user experience driven by innovation and the desire to help India save big on online shopping. We became profitable within 15 months of our launch. We have ventured into the price comparison space with our in-house price comparison engine powered by AI, Machine Learning and Natural Language Processing. This is another step in our effort to help the average Indian shopper save big on gadgets, electronic and electrical appliances by comparing and getting the best price across various online marketplace platforms. Furthermore, we have forayed into the Gift Card space to provide a simple yet thoughtful gifting option for festive occasions and personal events.