E-commerce large Flipkart has crossed a brand new milestone in its ‘Flipkart Plus’ programme, which is a reward-based loyalty programme. With over 20 million customers, Flipkart Plus has turn out to be one of the vital profitable loyalty programmes in India at present. Round 30 per cent of month-to-month energetic clients on Flipkart at the moment are Plus members. The loyalty programme has achieved greater than 100 per cent year-on-year progress.
Flipkart Plus is an earned loyalty program, with no subscription price, and is designed to please a really various set of Flipkart clients. Advantages embody entry to particular market launch previews, availing free and quick supply. The opposite advantages embody getting precedence buyer assist, gaining distinctive Flipkart Pay Later choices and curated advantages from ecosystem companions (throughout journey, OTT, F&B, way of life, and well being and health). In flip, the programme has pushed important engagement amongst Flipkart customers. Plus members on common transact 5X extra and have 7X larger spends in comparison with the remainder of the patron base.
“At Flipkart, we now have constantly innovated to make e-commerce extra inclusive and democratise entry for all,” mentioned Prakash Sikaria, senior vp, progress and monetisation at Flipkart. “Our loyalty programme ‘Flipkart Plus’ was created with this imaginative and prescient to nurture buyer relationships and ship elevated worth to them.”
Consumers on Flipkart earn further rewards within the type of ‘SuperCoins’. Immediately, Flipkart points greater than 1 billion SuperCoins monthly. SuperCoins can be utilized to avail advantages throughout an array of choices. After establishing the programme final 12 months, all through 2021, Flipkart has been engaged on taking SuperCoins to a bigger ecosystem. The launch of SuperCoin Pay and SuperCoin Alternate earlier this 12 months was a step on this path.
“Our analysis exhibits that for Indians, procuring is an emotional choice,” mentioned Sikaria. “Rewarding procuring unconditionally invokes a constructive emotional bond with the model.
This was a key perception that led to the creation of the Flipkart Plus programme. This phenomenon is extra pronounced in heartland cities throughout Tier 2+ areas (‘Bharat’) in India. “Immediately, 75 per cent of our Flipkart Plus members come from a base that has not been a part of any loyalty program, bank card, reward program earlier than,” mentioned Sikaria.
The rewards program was externalized with 5000 associate shops in late 2020, with SuperCoin Pay and SuperCoin Alternate. This enabled clients to earn and redeem rewards throughout associate platforms. All advantages are consolidated beneath a single rewards program that’s simply accessible on the Flipkart app.
Rival firm Amazon additionally runs Amazon Prime in India, which is a subscription membership that provides clients premium companies for a yearly or month-to-month price. In July this 12 months, Amazon witnessed the most important response for its flagship occasion Prime Day this 12 months in India. Prime Day 2021 marked probably the most Small-Medium Companies (SMBs) promoting on Amazon.in ever, as they noticed an awesome response from Prime members.
The purchasers from over 96 per cent pincodes of India positioned orders. The month main as much as Prime Day turned Prime Video’s finest ever viewership interval. Additionally there have been the very best variety of listeners for Prime Music.
Throughout lead up and on Prime Day, Prime members shopped from 126,003 sellers together with artisans, weavers, girls entrepreneurs, start-ups and types, native offline neighbourhood shops. This included sellers from throughout India together with these from tier 2-3-4 cities like Barnala (Punjab), Champhai (Mizoram) and Virudhunagar (Tamil Nadu). The opposite such locations embody Guntur (Andhra Pradesh), Valsad (Gujarat), and Shajapur (Madhya Pradesh).