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Understanding the difference between cashbacks, loyalty points, discounts and promo codes – FemaleFirst.co.uk

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Millennial shoppers are always on the lookout for discount offers when purchasing anything online. Whether it is a flat discount or a buy-one-get-one-free offer, your joys know no bounds as soon as you find out that there's a way to keep more money in your pocket. But are you aware of the difference between discounts and promo codes? Some online stores[1] even offer loyalty points and cash back. How can you ensure that you're reaping the highest benefits from these offers?

Some online stores offer loyalty points that you can redeem to get discounts later while others provide cashback offers on your purchase. Honestly, with so many enticing promos around, it can be confusing at times to understand their differences.

Promo codes and discounts

Discounts are widespread in online shopping[2]. Online and retails stores use discounts as a powerful tool for attracting customers and compelling them to make a purchase. Let’s say that you choose to buy a t-shirt online that is available at a 25% discount. If the original price of the t-shirt is £100, you will get it at £75.

Promo codes work differently. Also known as coupon codes, this type of discount allows you to save money in different ways. For example, some promo codes may provide free shipping while some may offer a flat discount. Many promo codes also offer a flat discount on your first purchase and an additional discount on your second purchase if you buy any product within a month from the same site.

It's wise to check the details of the promo codes before using. Offers from popular coupon code websites like PlusVoucherCode[3] explain the terms and conditions of the coupons before you use them. This makes it easier to compare multiple coupon codes, helping you pick which one saves you the most money.

Cashback and loyalty points

Many online stores now ask their customers to open a virtual wallet on their respective website so that you can enjoy attractive cashback offers. Suppose you open a virtual wallet on XYZ website to buy a couple of t-shirts that will provide 50% cash back on your virtual wallet. You need to link your bank account to this wallet so that you can put in and withdraw money whenever you want. To avail of the offer, you need to make the payment from that wallet, and as soon as you hit the pay button, you will notice that your wallet has been credited with the 50% amount of the t-shirts. You can use that amount to buy products from the same website later.

Loyalty points are available on some online stores that want loyal customers[4] who will continue to shop from their website. You get points on every purchase and these points accumulate to give you rewards later in the form of discounts. For example, if you have 100 loyalty points in your account, you will get £50 off on your next purchase. The more loyalty points you earn, the more discounts you are eligible to receive.

So, the next time you find a series of discount offers online, don’t select randomly. Equipping yourself with the right information about the different types of discounts makes you a wiser and thriftier shopper.

References

  1. ^ online stores (www.femalefirst.co.uk)
  2. ^ online shopping (www.femalefirst.co.uk)
  3. ^ PlusVoucherCode (www.plusvouchercode.co.uk)
  4. ^ want loyal customers (www.forbes.com)

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