Myntra chief executive officer Ananth Narayanan said in an interview on Monday that its new initiative will be different from other loyalty programmes such as Amazon Prime or the recently launched Flipkart Plus.
Myntra Insider will reward customers with points not only for spending on the platform, but also for visiting and browsing through the online platform more frequently.
“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. In that sense, it is different from all the other loyalty programmes out there because this is an engagement-driven loyalty programme” said Narayanan.
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Myntra is aiming to get at least 10 million subscribers for its loyalty programme in the first year.
At present, including Jabong, Myntra has about 20 million active monthly users.
Myntra’s decision to launch a loyalty programme comes a month after Flipkart launched the Flipkart Plus initiative, which offers subscribers more discounts and free and faster product delivery, besides other rewards on platforms such as Hotstar, Zomato, MakeMyTrip and Café Coffee Day.
Myntra Insider will also offer its subscribers rewards for using the services of its internet partners such as Zomato, BigBasket, PhonePe and BookMyShow. The subscribers will also get benefits such as early access to major sales and priority customer support.
In June 2017, Mint had reported that Myntra would launch a loyalty programme as part of a broader strategy to get existing customers to shop more and to draw new shoppers. Narayanan had then said that the loyalty programme will be different from Amazon Prime and will be “fashion-specific”.
Myntra, however, is not the only large consumer internet player in India which is betting big on a loyalty programme.
A number of leading Indian startups have launched subscription programmes. In July, India’s largest food delivery service Swiggy had launched a Swiggy Super. The service unlocks unlimited free deliveries across all restaurants as part of a broader strategy to increase order volumes.
Last November, Zomato had launched its paid subscription service Zomato Gold. It gives subscribers access to complimentary food and drinks at top-rated restaurant partners.
The development was designed by Livemint