Is there a better way to save money than cashback?

From airline rewards to supermarket discounts, we all love a deal when shopping for our everyday favourites or luxury extras.

But hidden terms and conditions sometimes mean the deal you think you are getting isn’t quite as good as you thought, either because of the time it takes to ‘earn’ the offer, you need to search for codes that might not work, or the small print diminishes the size of the deal.

George Anthony, head of PR at Slash App, said: “Newton’s law dictates that for every action, there is an equal and opposite reaction. For every saving, someone else is paying to make up the difference.

“In the case of cashback, it was typically the card user filling the deficit through annual fees and tactical points pricing, allowing you one freebie before leaving you tantalisingly close to a second. How could anyone resist spending just a little more to get the extra points they need?”

But there’s a new way to get instant, real-time discounts as you shop, with Slash, the online extension which calculates your savings and cuts the price at the time you purchase – but is it really what the market wants?

Influencers in action

Slash spoke a range of influencers to get their thoughts when it came to online savings.

George said: “We conducted research with some talented social media influencers and asked them about their shopping habits, what they thought about cashback, and if they thought there was a better way to save. Jo Freeman, Kennie Cheng, Anoushka Probyn, and Paz Castro shared fascinating insights.”

Jo is 34, and a make-up artist, beauty blogger and social media influencer from London. According to Jo, she makes roughly half of all purchases online. Kennie, 27, works as a social media executive at a world-leading luxury department store. Anoushka is a digital content creator from London who recently turned 28. Paz is a jewellery designer from East London; she is also a content creator and an influencer with her dog Lloyd.

All four influencers Slash spoke to had very different preferences for shopping. Anoushka shopped almost exclusively online, stating: “I think it's easier to find discounts. There're always discounts online whereas in stores you're buying full price and you can also compare so many different options for one thing online whereas in-store you can basically just buy what's in front of you”.

The best part of saving

Convenience and ease when shopping online was a crucial part of the experience for three out of four of the influencers we spoke to, but they had all ruled out manually searching for savings. These three also preferred some level of third party involvement in their purchase to do some heavy lifting for them, whether finding a code on their behalf or dealing with customer disputes.They appreciated services that provided little nudges to remind them that they had an opportunity to save money. Vouchers were used to varying degrees, but there was an obvious correlation between ease and frequency of use.

George said: “The four influencers we spoke to had almost no knowledge of cashback as a viable method of saving. This lack of understanding led to them avoiding it. They all agreed that there was a lack of information about how cashback worked and the business model behind it.

“When you add up all the insights provided by this group of exceptional young people, you can draw a simple conclusion. They are all looking to save money but don’t consider the time and effort involved in finding voucher and coupons codes worthwhile and have limited understanding and trust in the cashback system.”

What’s the alternative?

Slash was excited to share a new method of saving with the influencers: the first-ever instant saving extension.

With Slash, you can go to the online stores you love, simply and easily hover over the price and see what you can save. All you need to do after that is go to the checkout and buy with Slash to secure your instant saving just like you would in-store. And the customer focus group of influencers liked the idea.

Kennie responded that she would choose an instant discount when shopping online over a cashback service. She said: “if you say that with the new app, I’m gonna have the cash right after, and I don’t have to pay any fee, then perfect.”

How does it work?

Effortlessly! After downloading Slash to your internet browser, a purple button will appear on the checkout on all partner websites. This seemingly magic button will instantly offer shoppers the chance to buy the same products for less money.

The secret to Slash is a smart-tech reimagining of the old cashback model. Shops offer “moneyback” to attract more buyers, but this is for the benefit of the shop. Brands can hold onto the money for longer, helping them pay their bills while leaving customers waiting a long time, trusting an unknown cashback company to give money back.

Instead, Slash's smart tech calculates a discount automatically at checkout. Through their partnerships, they've helped replace month-long cashback offers with a one-click saving system.

Slash offers the highest data protection standards, working with the biggest brands in to make saving money online secure and enjoyable.

You can have instant savings today with Slash download. Simply use the link to the browser extension. Follow them on Facebook and Instagram for exclusive deals of up to 70% off!