Flipkart IRIS, an insight platform that provides brands with the behavior intelligence of customers, has been launched by e-commerce platform Flipkart. The data will help brands make data-driven decisions.
The analytics solution will offer reports to direct funnel performance improvement, comparative analysis, and insights into user behavior to comprehend how customers utilise brands to purchase their items.
The company said in a statement, "Flipkart IRIS will offer a significant leap forward in functionality and usability for brands in terms of how Indian consumers interact with products and brands." The IRIS platform will also have exclusive reports that will help brands understand high-value consumer actions that are related to their products.
With Flipkart's extensive reach across various city tiers and socioeconomic backgrounds, the company believes that these data can aid brands in enhancing their performance through offline channels as well.
Flipkart’s IRIS will help companies optimise market campaigns, increase customer engagement, and more, as per the company.
Read: Waiting for the right time for Flipkart IPO: Walmart International CEO
Speaking about media advertising, Sandeep Karwa, Vice President of Flipkart Ads, said, “Retail media spends are only 15 per cent–20 per cent of digital AdEx in India, compared to 25 per cent–30 per cent in the US and 55 per cent–60 per cent in China. In the first quarter of 2024, digital AdEx in India increased to over 25–30 per cent. Despite the rapid growth, the headroom to grow is tremendous.”
Karwa was recently appointed as the Vice President of Flipkart Ads. He has been working with Flipkart since 2012, when he joined as a senior manager. Prior to this, he worked with ICICI Lombard, Cognizant, The Mobile Store, and Atos Syntel.
Flipkart is also seeing top exits in the company, with Senior Vice President (SVP) of Flipkart's Customer Growth and Retention, Marketing, and Advertising Prabh Simran Singh set to resign soon. The company has already seen the top resignations of Amitesh Jha, Head of Marketplace and Categories, and Bharath Ram, SVP of Growth and Retention.
