E-commerce giant Flipkart introduces Flipkart IRIS to assist emerging D2C brands
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Indian e-commerce giant, Walmart backed Flipkart has recently launched an insights platform which is named as Flipkart IRIS (Insights and Research Intelligence System). This newly launched tool is creatively crafted with comprehensive intelligence about the behavior of customer.
The company wants to aware the emerging brands about their target customers with actionable insights which is creatively designed to track their performance on flipkart. This new launch will foster growth by facilitating informed decision-making.
Flipkart IRIS works as an advanced analytics tool, which offer brand detail reports to guide performance improvement across various funnels. Its functions include industry-standard comparative analysis and unique user behaviour insights. The platform proceeds further than just a basic analytics and provides exclusive reports that allow brands to understand the high-value actions of consumers for their products on the platform.
Flipkart said in a statement that, theses insights and data will offer the company with the information to make data-driven decisions that will significantly improve conversion rates and sales.
According to Sandeep Karwa, Vice President of Flipkart Ads, "Flipkart IRIS represents a significant advancement in empowering brands to bolster their businesses and succeed on Flipkart. By providing actionable insights backed by rich data, the platform is poised to unlock unprecedented growth opportunities for brands on the platform."
Karwa also added, "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."
The new tool of Flipkart will help the local D2C and new-age brands to extract multiple benefits from using Flipkart IRIS. These include identifying new growth opportunities, mirroring the perception of other brands, optimizing marketing campaigns, enhancing customer engagement, and measuring brand health.
Already established brands can magnify their benefits by identifying growth opportunities, measure performance, stay competitive, and develop strategies that meet their objectives.
