Watch Live: The Launch Of Tata Neu App
Tata Neu App Took Two Years To Build
The project took up two-years and the company is calibrating it. There was no delay, Chandrasekaran said.
"Any consumer platform has to be build with inputs from consumer. We are looking forward to feedback and criticism," he said.
The app now has 2.2 million downloads, according to Tata Digital CEO Pratik Pal.
NeuPass Is Bigger Than A Rewards Program
NeuPass, Chandrasekaran said, is the one-stop hook for all purchases.
"NeuPass is bigger than a rewards program. We have a strong omnichannel footprint and NeuPass is universally applicable across all our verticals. We believe NeuPass will be the core asset that will attract customers," he said.
We Will Launch Buy Now Pay Later, Says Chandrasekaran
"We are not in the GMV multiple game. GMV should bring in cashflows. Every business needs to have cashflow plan. We have just begun," says Chandrasekaran.
"We will be launching Buy Now Pay Later. I am told if we need to get millennial we need BNPL."
App Will Open To Brands Outside Tata Group Brands
Tata Neu app, which houses major Tata Group brands, will be open to brands outside of the group.
"The company will launch a new category every quarter based on the consumer demand," said Pal. "We have a roadmap towards building new categories and in that journey if we need to onboard new brand."
Aim To Become A Profitable Business
Our aim is to become a profitable business, said Pal.
"We expect nearly 50% of the customers moving from single app to super app," said Mukesh Bansal, President, Tata Digital.
Evolution Of App Will Be Customer-Driven, Not Contracts
"We will go beyond Tata offerings but the evolution of the Tata Neu app will be customer-driven, it will be determined by consumers and not contracts," said N. Chandrasekaran.
Neu Pass Will Continue To Get Enhanced Features
The Neu pass value proposition will continue to get enhanced with features.
"We are working on number of categories and innovation and tech innovation which includes AI driven personal assistant for the consumer," he said.
Tata Neu Aims To Become Super App
Tata Neu app is an open architecture with the aim to "become that super app for which the offering will come from either Tata stable or outside."
Offerings on Tata Neu, including Neu pass, would go beyond the Tata's stable, Chandrasekaran said.
Platform Leverages Digital Access, Tech Innovation
The platform, he said, leverages digital access, offline presence and tech innovation.
"It is our dream to this evolve fully integrated into the life of the Indian consumer," he added
Brought All Consumer Brands On Single Platform, Says Tata Group Chairman
Today there is no ecosystem that specifically addresses the Indian consumers, said Tata Group Chairman N Chandrasekaran.
"We have brought all our consumer brands in a single platform. It has brought in a lot of synergy for the group and massively expanded the value proposition for the Indian consumer," he added.
Tata Group Launches Super App Neu
Tata Group will launch its super app 'Neu' at 5 p.m. today.
The app will allow consumers to buy grocery and air tickets to taking a loan on a single platform.
The app was available to only to group employees before its launch on April 14.
Tata Neu has been downloaded 500,000 times on Google Play Store since testing began in October.
However, the app was marred by glitches and poor experience on its launch day on April 7.
Users took to Twitter to flag one-time password and login issues. Attempts to sign up prompted a ' there was an error' message citing interruption in server multiple times among other issues.
Tata aims to capture a larger share of India's growing internet economy with Neu by letting users from buy groceries and booking flights to taking loans on the same platform.
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