With over ₹100 crore in gross merchandise value and 200+ partner brands, Hyyzo is betting on a future where cashback becomes an integral part of online shopping rather than an occasional festive perk. As Indian consumers become increasingly conscious of how they spend, cashback and rewards are evolving from promotional incentives into an important part of online shopping decisions. For many shoppers, the question is no longer just where to find the best price, but also how much value they can recover after making a purchase. Hyyzo, a cashback and rewards platform founded in 2022, is looking to capitalise on this shift by helping consumers earn money back on purchases across more than 200 partner brands, including Flipkart, Myntra, Ajio and Nykaa.

According to Ashutosh Goyal, Founder and CEO of Hyyzo, the platform’s growth reflects a fundamental change in consumer behaviour. Cashback, he believes, is increasingly becoming a deciding factor in shopping choices, particularly among Gen Z and first-time online shoppers from smaller cities and towns.

The company recorded more than 1,50,000 orders through its platform in the first two weeks of October alone, highlighting the growing appetite for value-driven shopping during the festive season.

“Cashback has moved from an occasional perk to a deciding factor in where people shop,” Goyal explains, pointing to the growing demand for transparent rewards, reliable tracking and straightforward withdrawals.

Beyond Festive Discounts: The Rise of Everyday Savings

While festive sales continue to drive online consumption, Hyyzo’s internal data suggests that consumers are increasingly looking for savings on routine purchases as well. In September, more than a third of orders placed through the platform were valued at under ₹500, with beauty and grooming emerging as the most-ordered category.

For Goyal, this indicates that cashback is gradually becoming relevant across everyday spending rather than remaining confined to high-value purchases or major shopping events.

The trend gained further momentum during the first two weeks of October. According to company data, fashion orders nearly tripled compared with the entire month of September, footwear orders grew almost fourfold, and sales of home furnishings and décor tripled. Purchases of mobiles and laptops increased more than sixfold over the same comparison period.

The numbers point towards a broader shift in how consumers approach online shopping. Rather than treating rewards as an afterthought, shoppers are increasingly considering them alongside product prices, discounts and convenience.

Hyyzo is also expanding its proposition beyond conventional cashback through features such as Profit Link, which allows users to share product links with friends and family and earn from resulting sales. Its Refer and Earn programme offers another avenue for users to generate rewards by bringing new consumers onto the platform.

Beauty, Fashion and Electronics Drive Demand

Although beauty and grooming remain consistent performers, the latest festive-season trends indicate that cashback is gaining traction across a wider range of categories. According to Hyyzo, beauty and grooming accounted for more than a third of orders placed through the platform on Flipkart in both September and October. However, electronics recorded particularly strong growth during the first two weeks of October, with mobiles accounting for approximately 30% of sales through Hyyzo. Television sales increased 18 times compared with September, while sales of air conditioners, refrigerators and washing machines grew nearly sevenfold.

This growing participation in higher-value categories suggests that consumers are becoming more comfortable using cashback platforms for significant purchases, not just low-cost products. It also presents an opportunity for platforms to deepen merchant partnerships and offer rewards across more shopping categories. For Hyyzo, the objective is to build a platform that supports consumers throughout their shopping journey, whether they are buying personal care products, upgrading their electronics or furnishing their homes.

From Coupon Hunting to a Long-Term Earning Companion

In a competitive market featuring coupon websites, cashback platforms and brand loyalty programmes, Hyyzo is positioning itself around the idea that rewards should translate into tangible financial value for consumers.

Goyal says the platform aims to distinguish itself through a transparent cashback experience, allowing users to track rewards as they move from pending to confirmed. Unlike a conventional coupon that offers an immediate discount at checkout, cashback creates an opportunity to earn back a portion of the purchase value. The company is also betting on the growing influence of recommendations from friends, family and digital creators. Through Profit Link, it wants to enable users to monetise product recommendations, bringing elements of referral-based commerce into the cashback ecosystem.

“The goal is to be a long-term savings and earning companion for Indian shoppers, not just an app they open when they’re hunting for a deal,” Goyal says.

The strategy reflects a wider opportunity in India’s digital commerce market, where consumers are increasingly discovering products through social networks and recommendations while continuing to seek better value for money.

The Next Phase: Tier 2 Markets and Scale

Having crossed ₹100 crore in gross merchandise value (GMV) across categories including lifestyle, beauty, home furnishings, grocery, travel and OTT subscriptions, Hyyzo is now preparing for its next phase of expansion. Over the next 18 months, the company is targeting 20 million active users and more than ₹1,000 crore in GMV across its partner stores. Its priorities include onboarding additional brands, expanding category coverage, scaling Profit Link and reaching consumers in Tier 2 cities and smaller towns. These markets are particularly important as more consumers come online and become familiar with digital payments, e-commerce and app-based shopping. For cashback platforms, the opportunity lies in making rewards accessible and straightforward for consumers who increasingly compare prices and seek additional value from their spending.

However, sustained growth will also depend on maintaining consumer trust, ensuring reward transparency and building partnerships that deliver value to both merchants and shoppers.

Cashback as a Consumer Expectation

Looking ahead, Goyal believes the cashback ecosystem will increasingly become part of the standard online shopping experience. As consumers grow accustomed to digital convenience, he expects them to seek rewards with similar regularity.

The expansion of online shopping into everyday essentials and quick commerce, alongside the growing influence of peer recommendations, could further shape the next phase of the market.

For Hyyzo, the ambition is to make earning on purchases a routine consumer behaviour rather than a seasonal activity. Its growth strategy rests on a simple proposition: consumers should receive more value from money they are already spending.

Whether cashback becomes a near-universal expectation will depend on how effectively platforms balance attractive rewards with sustainable economics and dependable user experiences. But with its focus on everyday purchases, referral-led earnings and expansion into emerging consumer markets, Hyyzo is positioning itself to participate in that shift.

For Goyal, the measure of success ultimately goes beyond user acquisition. It is about how much value the platform can help consumers save and earn over time.

By: Arushi Agarwal