With many more people taking to online shopping, the traditional means of offering discounts and rebates became no longer relevant. This happened because of the plethora of online shopping sites, and discount coupons daily announced. Thus, came about Honey extension that promise to make shopping easier and cheaper, with added convenience thrown in.
Honey is a plugin, but there is an app for the mobile phone. It is one of the most popular cashback programs and one of the simplest to use as well. Few people can withstand the pull of a good bargain, that’s what programs like Honey try to exploit.
What is Honey?
Honey is a web browser extension or plugin designed for Chrome, Firefox, Edge, and Safari browsers. It is used to identify the best deals while shopping online by comparing the coupons that each online shopping merchant offers at a particular time. When you’re checking out the shopping cart that’s when you are going to get the discount.
When you install Honey on your web browser, you will get notifications in the form of pop-ups when shopping at participating shopping sites. Specific discount coupons are currently available. Then you can proceed to choose the vouchers to apply at the checkout. Moreover, Honey has some loyalty programs as well that encourages customers to avail themselves of the platform each time they shop with added benefits to the user.
How does Honey work?
While on an online shopping session, Honey looks into your shopping cart and lets the customer know that certain coupons are available for use. This happens only for those merchant sites that are participating in the cashback program of Honey. The customer then chooses the coupons that he finds attractive. Any condition to its use is also displayed on the website as a pop-up.
When you choose the coupons you will get your goods at a lower rate. Honey saves a lot of time as the customer need not go through all the available coupons to decide which ones are a fit. The plugin does it automatically for you.
How to use the Honey extension?
First, you need to install the Honey extension on the browser. It will run in the background and is not a hindrance to any other regular browsing activity. Once purchased from a participating store, the customer shops like any other stock site. At the checkout of the cart, press the Honey icon on the browser.
This action brings to the customer’s attention the relevant coupon codes that are on offer at the moment for the purchases made. If there are any conditions to use the coupons you will get notified.
At the click of the apply button, the Honey plugin applies the chosen coupon codes to the purchase done to give the shopper the discounted offers.
How good is Honey?
The Honey extension is one of the more popular choices of cashback coupon plugins that are currently available in the market. It’s recognized at over 30,000 online shopping stores and by millions of users. Claims of offering an average discount of 17.7% and an annual average saving of $126 are made by the cashback coupon application promoters.
There is no doubt there are other cashback plugins in the market. It speaks volumes for the staying power and the ease of Honey’s use that they have found acceptance with so many people in the country. As more folks get to be comfortable with similar applications, Honey stands to gain from the increased penetration of the markets.
How safe is Honey?
Honey has over 17 million trusted users at present. Promoters of the app ensure security and safety. A review of the home page would take the visitor to the thousands of positive reviews made, including the numerous five-star rating that it has received over time.
Since the app does not store any personal data or credit card details, there is a lessened sense of insecurity and possible loss to the customer.
How does Honey make money?
Firstly, Honey is not a brick-and-mortar operation but a wholly digital arrangement. This means that there are few employees and therefore few costs. The plugin works on the principle of generating volumes and thin margins.
Each time you shop using the Honey extension, the home company makes a commission on the transaction. The loyalty program is there to encourage people to shop with the Honey extension.
Each time you use a discount coupon you would get specific credits on your account. The credits get accumulated over time and you can redeem them for gift vouchers called Honey Gold. You can then use the gift vouchers for subsequent purchases to further reimburse costs online.
The money Honey makes in each application of the coupons is relatively minuscule. But the sheer volume of trades done ensures that the platform gets to earn a sizable income over time.
Honey extension and shopping convenience
Most online shopping sites and, indeed, the brick-and-mortar stores would admit that it is increasingly getting difficult to attract loyal customers to their establishments. Apps like Honey go a long way to ensuring customer loyalty to the businesses. Simultaneously, it saves the shopper the effort taken to remember the different coupons that are on hand on each occasion.
With the merchant sites, they do stand to gain from the promotional campaigns that Honey does to drum up business at any time. When we look from the online shopping sites’ perspective, they have very little to lose. The commission amounts to the app are very small. It is thus a win-win situation for the shoppers, the merchant participants, and the Honey application.
Check out some Honey related comparisons.