By Tricitynews
Chandigarh 21st
Jan, 2020:- PAYBACK India, the country’s
largest multi-brand loyalty program, this year,
plans to strengthen its partner network multi-fold and is in talks with
numerous high-frequency transaction segments. As part of the overall strategy,
PAYBACK will also be focusing to step up its member base, which is already at
over 100 million and create deep engagement with
members, leading to business growth and customer loyalty.
Talking about the expansion plans
for PAYBACK in 2020, Gautam
Kaushik, MD & CEO, PAYBACK India, said that with a focus on increasing the engagement frequency of our members and
see new enrolments on the loyalty platform, we are looking at high-frequency transaction segments and
are in active discussions with brands in Neighbourhood grocery, Food-delivery,
Cab hailing, OTT & streaming media, Quick-Service-Restaurants, online
travel tech and Wallets, among others. This will increase the partner
network and deepen customer engagement.
He further added that we are going to make a slew of announcements
on this front in the coming quarters. PAYBACK generally brings on board the top
two to three merchants across categories.
As part of measurable metrics to
track effectiveness of a loyalty program, PAYBACK has seen shopping ticket size values for members at 45%-55% higher
compared to non-members. Moreover, the buying frequency of members have grown
multi-fold and loyalty points redemptions increased in 2019 as consumers beat
slowdown by encashing deals to make shopping pocket-friendly.
Gautam Kaushik MD & CEO, commented that an integrated
loyalty program that focusses on providing a delightful experience and
leverages consumer insights could account for 50-60% of the overall sales of
the retail brand, which has been amply demonstrated in many of the PAYBACK
brand partnerships.
Having been in the Indian market
for a decade, and GMV exceeding ₹1-lakh
crore, PAYBACK continues to achieve profitable growth for partners and for the
program.