Monday, May 20, 2024

SuperCoins witnesses a new phase of growth across Flipkart, PhonePe, Myntra and Cleartrip

Flipkart, India’s homegrown e-commerce marketplace, has seen tremendous growth for its SuperCoin reward program across categories in the past year. The multi-brand reward ecosystem that rewards consumers and enables them to redeem coins on every single purchase across Flipkart, Myntra, Cleartrip and PhonePe, today sees close to 1.5 billion SuperCoins issued every month.

SuperCoins can be redeemed while buying any product from the participating sellers on Flipkart and also while accessing the rewards store among other options, purchasing the latest fashion styles on Myntra, making travel bookings on Cleartrip or to pay over thousands of select merchants through PhonePe. 58% of today’s SuperCoin customers hail from T2 & T3 regions in India, which is aligned to the intention of making loyalty rewards accessible to the larger Indian population. 50% of these rewards are claimed across categories such as Household items, Grooming accessories, Men’s Clothing, Food and Nutrition, Makeup & Fragrances, Healthcare,
Baby Care, Fashion Wearables and Women’s Westernwear.

To reward consumers and make their shopping experience holistic, Flipkart has strengthened this program with partnerships with participating retail outlets where these rewards can be redeemed. This unique rewards ecosystem from Flipkart is designed to bring value to millions of shoppers across India.

Sharing his views on the growth of the SuperCoin program, Chirag Vora, Senior Director, Loyalty Program, Flipkart, said, “At Flipkart, we have consistently innovated to make e-commerce more inclusive and democratize access for all. Our SuperCoins program was created with a vision to nurture customer relationships, enhance every single shopping experience and deliver increased value.”

Srinivasan Subramani, Director – Loyalty, Myntra, said, “Supercoin integration enables our loyal customers, ‘Myntra Insiders’, to redeem their loyalty coins across the Flipkart Group ecosystem. So beyond our wide offerings of 50+ new rewards on the Myntra Reward Store, it allows the customer a choice to redeem across a wider range of options across categories. We have seen notable improvement in redemption metrics after the introduction of SuperCoins.”

Sharing his views, Deep Agrawal, Head of Payments, PhonePe, said, “We are excited to partner with Flipkart to enable SuperCoins redemption on the PhonePe platform. This will empower millions of PhonePe consumers to seamlessly transact using the accrued SuperCoins at our merchant locations; thereby significantly increasing the use cases for utilization of their SuperCoins.”

Prahlad Krishnamurthi, Chief Business Officer, Cleartrip, said, “Through the introduction of the SuperCoins program across our platforms, we have been able to seamlessly offer additional value to our customers by enabling a loyalty and rewards ecosystem that allows customers to earn and redeem their SuperCoins on Cleartrip. Since the launch, we have witnessed an impressive 20% redemption on travel bookings and expect to see a wider adoption of our customers redeeming their SuperCoins for their flight and hotel bookings on Cleartrip.”

The SuperCoin program is designed to provide benefits to millions of customers who shop on Flipkart, where every single purchase over INR 100 results in earning SuperCoins. With SuperCoins, shoppers get extra value on every purchase and earn rewards for every rupee spent, in the form of a cashback. With millions of new shoppers embracing e-commerce this past year, SuperCoins has seen a growth of over 74% in people redeeming their SuperCoins.

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