Eid 2022 gifting: UAE consumers go for cashback schemes in a big way and retailers have the right offers

Eid 2022 gifting: UAE consumers go for cashback schemes in a big way and retailers have the right offers

Dubai: Is ‘cashback’ making a sort of comeback in the UAE’s retail space? Through Ramadan and Eid, cashback schemes from retailers and other service providers have seen significant interest from shoppers compared with the traditional discounts. According to retailers, when consumers are getting more conscious about their spending, the impression that cashback offer – of money being returned in some way – better value is why they are proving quite popular these days. “In comparison, many consumers still have mixed feelings about discounts,” said a retailer. “In the present, money saved – and returned – is finding quite a lot of interest from consumers rather than money saved, which is what discounts offer.” Every retailer seem to have some cashback schemes running, whether that’s a car purchase, gold or diamond jewellery, or even data bundles. Jacky’s Electronics is pushing hard with a cash return of ‘up to Dh1,000’ for Samsung purchase, while Emirates NBD is running a 1 per cent cashback, of up to Dh1,500, when booking an instalment plan for Dh5,000 or more through an app. The point is, across industry verticals, cashback is king. According to Uday Rathod, CEO of ZNAP, a consumer reward portal, “Cashback represents future