Currently, there are many websites in India offering reward and cash back with every purchase from online retailers and other ecommerce players. While most of them are generic in nature and target domestic online shoppers, Delhi based I-Prime aims to reach students.
I-Prime is a premium reward program, primarily open for students and alumni of top ranked institutes such as all IIT, IIM, NITs including Delhi University and other varsities in the country. The program allows users to earn rewards points while shopping and with every reference they extend to their friends and network.
Citing reasons behind targeting students, Shubham Lahoti, founder I-Prime said, “In fact, we are not limiting the use to any specific type of person, but its more of a marketing tactic. Secondly, our main target as of now are students travelling internationally.”
How does it work?
To gain access to I-Prime, users need to login via email or with a Facebook account. After this, they will be able to see their point history, earned and accumulated points. While gaining loyalty points through I-Prime’s partner websites – users need to use their unique link for a particular partner or enter membership id on the partner’s checkout form.
For referrals, users can use their Facebook, Twitter, LinkedIn or Google+ account. “Consumer can save anything between 1-10% every time they use their unique link. We provide them points for an individual partner when they buy using our unique link,” added Lahoti. Users can redeem points anytime as cash card or gift vouchers.
Unlike Payback, I-Prime doesn’t ask users to enter their email id, the site is easy to use, and displays all partners and unique links on the front page for an hassle free experience. Since its launch in February 2013, I-Prime has amassed more than 2,000 registered users and most points till now have been collected by those traveling internationally.
At present, the company generates revenue through an affiliate marketing model where it gets commission with every conversion from its partners. I-Prime has partners like Jabong, Flipkart, Myntra, Yatra, Via and Olacabs in India while globally the company works as an affiliate for London & Paris Pass, Rail Europe among several others.
After reaching a critical mass in user base and conversion, I-Prime plans to move offline using smartphones as an option for loyalty points collection at offline stores. Besides offline expansion, the startup aims to extend analytical services for retailers and brands.