“A magic mirror for brands.”
E-commerce company Flipkart has announced the launch of its brand-new platform, Flipkart IRIS, designed to provide insights about consumer behavior to brands.
IRIS (Insights and Research Intelligence System) will empower new-age brands by providing them with detailed reports and actionable insights about their business performance on Flipkart, helping them to understand marketing trends and consumer behavior.
“Flipkart IRIS will offer a significant leap forward in functionality and usability for brands on how Indian consumers interact with products and brands. It will serve as a magic mirror for brands, providing detailed reports to guide performance improvement across funnels,” the brand said.
Flipkart IRIS is not limited to offering comparative analysis and user behavior insights. It goes beyond by offering exclusive reports which will enable brands to understand the high value actions of consumers for their products. These reports will empower brands to gain a deeper understanding of consumer behavior and trends, allowing them to make data-driven decisions. Thus, it bolsters improvement in conversion rates, sales, and performance in offline channels.
Flipkart IRIS aims to provide homegrown D2C and new-age brands with several benefits, including uncovering new growth opportunities, mirroring the perception of brands, optimising marketing campaigns, enhancing customer engagement, and measuring brand health. The platform is designed to help established brands dive deeper into the sales funnel and embrace the opportunity to grow their business, measure their performance, stay competitive and craft strategies that meet their objectives.
Flipkart also announced the elevation of its business head for fashion and softlines, Sandeep Karwa, as the new leader for Flipkart as voice resident.
Sandeep Karwa said, “Flipkart IRIS represents a significant advancement in empowering brands to bolster their businesses and succeed on Flipkart. With Flipkart IRIS, we aim to provide brands with actionable insights about their business performance on Flipkart. 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.”
