Quick Summary:
The blog discusses how the home improvement industry has experienced significant growth in the online space, with offers, cashbacks, coupons and discounts playing a crucial role. Pepperfry, a leading online home improvement brand, has achieved great success by leveraging PayU’s Offer Engine, a tool that helps businesses manage end-to-end offers. The blog highlights the benefits of using PayU’s Offer Engine, such as real-time performance analysis, attractive offers, instant cashback offers/ vouchers/ coupon codes and streamlined settlement processes. Pepperfry’s partnership with PayU has resulted in a substantial increase in transactional volume and gross merchandise value (GMV). The blog concludes by emphasizing the importance of adapting to customer preferences for deals, offers and discounts.
Table of contents:
- What are customers buying the most during sales season?
- How are festive deals helping home improvement industry?
- How has Pepperfry dominated the industry with offers & discounts?
- What is PayU’s role in Pepperfry’s enormous growth numbers?
- What is PayU’s Offer Engine? How does it help businesses?
With the sale season blazing on, browsers are quickly turning into buyers. Customers wait all year for this period to catch top deals and discount offers on gadgets, clothing, home décor, and more. Product offers & big discounts are one of the most crucial aspect which can either make or break conversions for businesses. One industry that is thriving on the irresistible offers is home improvement, it is also getting a lot of visibility in the online space lately.
One of the fastest growing categories, at about 10% CAGR, home improvement was once a 100% offline space. Owing to the shift in customer behavior and technological upgrades, home improvement category now has a diverse range of buyers – ~25% online, ~25% offline, and ~50% omnichannel.
This split can be attributed to various factors. One such factor is providing hefty discounts, impressive deals and massive savings. While making a purchase from any medium – offline or online – the volume of sales depends on the exclusive discounts provided by a business.
Customers are attracted to monetary rewards which ultimately depends on the limited time deals your brand provides, particularly on online websites. Thus, giving omnichannel audience the biggest share.
Adapting to these changes is a major challenge for brands. But one brand that has succeeded in the home improvement category is Pepperfry.
Pepperfry x PayU – Growth story
Pepperfry is a leading ecommerce home improvement brand that provides an amazing collection with the best deals. Pepperfry is supported by the PayU Payment Gateway, ensuring the best success rates in the industry for their online store.
Pepperfry powers its sales using PayU’s Offer Engine, a powerful tool that helps businesses acquire, scale, and retain customers. It helps businesses:
- Manage end-to-end offer lifecycle with an interactive dashboard for real-time performance analysis.
- Source or execute attractive online shopping offers, no cost EMI or low cost EMI offers, and features like SKU-based offers, BIN-specific offers, and weekday offers.
- Reduce operational burden while handling recon and settlement.
How did PayU’s Offer Engine support Pepperfry’s growth?
For instance, Pepperfry ran multiple co-funded offers from different issuers and sought support to manage their settlements and reconciliation. They also wanted to offer promotional codes/ coupons, and a seamless offer management tool to streamline it all. PayU’s Offer Engine solved all these challenges.
Together, we delivered exceptional results, from sourcing and executing 25+ issuer offers to managing end-to-end recon and settlement. Moreover, we ensured a seamless payment experience to end customers and maximum uptime to the brand.
PayU remains the preferred payment gateway aggregator for transactions via Pepperfry.
Growth Statistics:
Here’s a glimpse at how Pepperfry’s sales grew since adopting Offer Engine in 2022.
The below graph represents the growth in GMV for the same months in 2021 – without Offer Engine vs 2022 – with Offer Engine.
The bar graph depicts the GMV growth in the same months for 2021 (without Offer Engine) vs 2022 (with Offer Engine)
PayU Offer Engine helped Pepperfry boost their average transactional volume by about 140% and GMV by over 170%.
The graph below is a comparison between the same months of 2021 and 2023 – the former being without Offer Engine and the latter with Offer Engine.
The line graph shows how the GMV has grown m-o-m in 2021 vs 2023
“PayU has been an invaluable partner in our growth journey at Pepperfry. Offer Engine has played a pivotal role in driving significant growth in our business. From seamless offer execution to efficient reconciliation and settlement, PayU has consistently delivered excellence. As our preferred payment partner, PayU has significantly improved our transaction success rates. With PayU by our side, Pepperfry continues to thrive, and we look forward to growing together.” – Pepperfry
Along with Pepperfry, over 5 lakh business are powered by PayU and its products. As customers are motivated by cashbacks and discount, it is becoming increasingly important for brands to adapt. PayU offers a one-stop solution for all your needs – PayU Offer Engine, tailored as per your demands to deliver the best buying experiences.
To learn more, go to PayU Offer Engine.
