E-commerce enabler POP has announced it will onboard about 500 brands by March 2024, allowing its shoppers to use its rewards coins and get discounts.
Since launching in early May this year, the company has successfully brought 100 brands into its network. It offers rewards in the form of POPcoins, disrupting traditional loyalty programs and point systems. Users can utilise the POP currency across various brands, presenting an alternative payment method during shopping, the statement added.
POPcoins empower consumers to navigate the complexities of unstructured loyalty programs. Users can earn and shop across brands on the POP network using POPcoins, simplifying and unifying loyalty programs across India’s brand and business ecosystem. This initiative aims to offer consumers a more rewarding shopping experience.
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"At POP, we understand the challenges consumers face with multiple loyalty programs. POPcoins are designed to break down these barriers, providing a seamless experience for both brands and consumers," says Bhargav Errangi, founder and chief executive officer of POP.
He said the POP network will grow to 500+ brands by March 2024. Leading D2C Brands such as Perfora, Slurrpfarm, Anveshan, and Khadi Essentials have joined the network, and their loyalty constructs are powered by POPcoins.
Unlike traditional loyalty programs confined to a single brand, POPcoins transcend these boundaries. They act as an omnipresent currency, empowering users to earn and redeem across a vast network of brands. This unique feature positions POPcoins as a catalyst for creating a large and engaged community of online shoppers, fostering collaboration, and supporting India's growing e-commerce ecosystem.
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In the evolving landscape of loyalty programs, POPcoinsdraw inspiration from successful models like Flipkart's Supercoins and Tata Group's NeuCoins. Unlike its predecessors, POPcoins stands out with its democratic approach with no boundaries, aiming to redefine loyalty programs and establish a new standard for customer retention and engagement in Indian retail.
Since its beta launch in May 2023, POPcoins have garnered immense recognition, engaging over 1.5 million customers within the POP network, which is expected to grow to 10 million by March 2024.
