Online platforms, particularly e-commerce sites have a huge challenge in getting their customers to come back to them for more shopping and to make them spend more time on their sites hoping that would translate into more business. This is a major difference between the traditional brick and mortar model. And also the reason e-commerce companies are betting big on royalty programmes. The newest to join the customer loyalty bandwagon is online fashion retailer Myntra.
Flipkart-owned Myntra has launched a loyalty program called Myntra Insider, as per a Mint report. Interestingly, Myntra has designed this programme a bit differently awarding points not only for making purchases on its platform but for doing a variety of activities on its site.
How many times you visit, what categories you look at, how many items you use the ‘wishlist’ option and what reviews you give to products on the site will all count. Obviously, the proportion of reward for spending on purchases will play a major part. Myntra wants to take the ‘engagement with the customer’ route as the softer way to reach the buyers’ hearts than to force the programme down their throats.
The aspect of the Amazon Prime scheme being expanded to include the streaming of movies and other entertainment videos is another way of keeping the customer ‘engaged’. The company feels that it stays close to the customer and this relationship will automatically build into a productive one over time. Along with Jabong, Myntra enjoys a customer base 20 million and hopes to rope in at least 50% of them into the Myntra Insider programme in the first year of its rollout.
Flipkart has its own Flipkart Plus and in the other segments, Swiggy and Zomato run their own loyalty schemes, Swiggy Super and Zomato Gold respectively.
The rewards scheme Myntra Insider has other offers built in, like discounts on other online platforms like Zomato, BigBasket, PhonePe and BookMyShow.