Flipkart-owned online fashion retailer Myntra has launched a new loyalty program “Myntra Insider“. The news comes shortly after Flipkart launched its own loyalty programme Flipkart Plus, last month.
With the introduction of Myntra Insider, the online fashion retailer looks to boost traffic through engagement on its platform, offering various features.
Differentiating its loyalty programme, Ananth Narayanan, CEO of Myntra-Jabong, said, “We want to make our customers feel like royalty. This will be the first-of-its-kind because we’re actually building on engagement. Some of the points are linked to purchases, but a lot of it is linked to behaviour. For instance, how many times you visit, what categories you look at, how many items you wishlist, and what reviews you give to products. All of that matters in terms of generating points, as much as the purchases. We’re a browse platform, not just a buy platform,”
The online fashion retailer has attempted to create an engagement-driven loyalty programme, offering customers points for various other activities like browsing and reviewing products, apart from just buying.
Myntra has partnered with companies like Zomato, TataSky, BigBasket, PhonePe, BookMyShow, Eros Now, Zoomcar, and Gaana, among many others, to offer different channels to customers, in order to redeem points.
Various other benefits included are early access to sales or points to purchase products, styling, and fashion assistant, among others, to enhance customer experience and engagement.
Myntra Insider is expected to garner 10 million users under the programme, in the next one year. The company also expects to increase user visits from 40 times to 100 times a year. Myntra is looking to boost sales through its new initiative.
Myntra achieved a gross merchandise value (GMV) of $1.2 billion in FY18, it is looking to boost its GMV run rate to $ 1.9 billion for FY19, as it eyes profitability.
Lately, more and more Indian startups are looking to boost sales and customer engagement, through loyalty programmes.
In July this year, India’s leading food delivery startup Swiggy launched membership programme called “Swiggy Super”, offering free deliveries.
Earlier in November 2017, Zomato launched paid subscription service Zomato Gold, offering complementary foods and drinks at top restaurants.