Update On :06 March 2015
The top e-tailers have decided to reduce the discounts on coupons. The e-commerce giants Flipkart, Myntra, Jabong, Snapdeal and Amazon, among others have unofficially decided to bring down coupon discounting to the global levels of 20% by the end of this calendar year. The industry insiders plan to bring it further down to global average of 20% in the coming months.
"There was a time when we were creating market using it (coupon discounting) as an incentive to make people come on board. Now we do think it is time to bring it to normal level," the executive said.
Co-founder of a large online retailer said it is about time the e-commerce companies clamp down on discounts that is hurting businesses.
"It should happen as the kind of discounts is not sustainable. But unless there are difficult questions from investors, how can there be a correction?" the person said on condition of anonymity.
News Source From : timesofindia.indiatimes
Image Courtesy : financial express