Fashion retailer Myntra launches loyalty programme 'Myntra Insider'Sameer Ranjan
This is in line with Myntra's plans to acquire around 10 million subscribers in a year's time.
A month after Flipkart launched its loyalty programme, Flipkart-owned omni-channel fashion retailer, Myntra on Tuesday launched its loyalty programme Myntra Insider in an attempt to close the gap with first mover Amazon India.
Currently, Myntra, which includes Jabong, has around 20 million monthly active customers. The entire Flipkart group has about 54 million active customers. Recent media reports peg the number of Amazon Prime subscribers at 10 million, which shows that both Flipkart and Myntra have a long way to go.
A statement from Myntra says that the firm is planning to acquire around 10 million subscribers in the first 12 months. The statement adds, “The Myntra Insider program hinges on three pillars - it rewards members for purchases as well as engagement such as browsing new categories, sharing feedback, wishlisting etc. It offers a host of exciting perks across fashion and lifestyle, with offers from sellers on Myntra and lifestyle partners such as Zomato, TataSky, BigBasket, PhonePe, BookMyShow, EROS NOW, Zoom Car, Gaana to name a few. Myntra Insiders will be able to avail special privileges such as early access to sales, priority customer support, special birthday offers and more, depending on their Insider level.”
Ananth Narayanan, CEO, Myntra-Jabong, said, “Myntra Insider is our endeavour to engage deeply with our users and celebrate our fans. We aim to encourage casually involved users to interact and indulge with Myntra and grow in their journeys to become our icons. The uniqueness of our program is two-fold - our uniquely crafted experiences for our biggest fans and gamification of engagement through personalisation and interactivity. We want to make visiting Myntra a habit for our users and aim to get our fans to visit us over 100 days a year and make a purchase every month.”
Of late, several companies have launched loyalty programmes. Last month, OYO and Flipkart launched their loyalty programmes, OYO Wizard and Flipkart Plus, respectively. The other Indian startups that launched their loyalty programmes this calendar year were Swiggy, Zoomcar, Grofers and BigBasket.
The strategy adopted by Indian startups implies that they want to have a longer relationship with their customers and actively engage with them beyond season or sale period.