Flipkart launches IRIS to help brands make data-driven decisions
The analytics tool will provide detailed reports to guide performance improvement across funnels, comparative analysis and user behavior insights to understand actions of consumers for their products on the platform.
Ecommerce company has launched Flipkart IRIS, an insights platform providing brands with detailed customer behaviour intelligence to help sellers make data-driven decisions.
The analytics tool will provide reports to guide performance improvement across funnels, comparative analysis and user behaviour insights to understand actions of consumers for their products on the platform, it said in a press release.
"Given the reach of Flipkart, cutting across tiers of cities and socio economic backgrounds, these insights can help brands improve performance even in offline channels," The release added.
With insights provided by IRIS, flipkart said sellers can mirror the perception of other brands, optimise marketing campaigns, improve customer engagement, and measure the health of their brand.
"By empowering brands to make strategic decisions backed by rich data, the platform is poised to unlock unprecedented growth opportunities for brands on the platform. Retail media spends are only 15%–20% of digital AdEx in India, compared to 25%–30% in the US and 55%–60% in China. In the first quarter of 2024, digital AdEx in India increased to over 25–30%. Despite the rapid growth, the headroom to grow is tremendous," said Sandeep Karwa, Vice President, Flipkart Ads,
Last week a 25% Y-o-Y growth in Q1 2024 advertising revenue, coupled with growth in the AWS division pushed, Flipkart's most formidable competitor, Amazon's marketcap near the $2 trillion mark. Amazon has a brand analytics tool which provides sellers insights such as search query performance, repeat purchase behaviours, demographics and others.
Edited by Affirunisa Kankudti