Flipkart, India's leading ecommerce marketplace, has unveiled Flipkart IRIS, an insights platform designed to provide brands with deep, actionable intelligence on customer behaviour. Flipkart IRIS, which stands for Insights and Research Intelligence System, represents a significant leap in the company’s efforts to empower brands with comprehensive performance data and foster growth.
"Flipkart IRIS will offer a significant leap forward in functionality and usability for brands on how Indian consumers interact with products and brands. It will serve as a magic mirror for brands, providing detailed reports to guide performance improvement across funnels," Flipkart stated.
The platform includes industry-standard comparative analysis and unique user behaviour insights, along with exclusive reports that allow brands to understand high-value consumer actions related to their products. These insights enable brands to make data-driven decisions, enhancing conversion rates and sales.
Given Flipkart’s extensive reach across various city tiers and socioeconomic backgrounds, these insights could also enhance offline channel performance for brands.
Flipkart IRIS aims to provide homegrown D2C and new-age brands with numerous benefits, including identifying new growth opportunities, optimising marketing campaigns, enhancing customer engagement, and measuring brand health. The platform is designed to help established brands dive deeper into the sales funnel, identify growth opportunities, and develop competitive strategies.
Sandeep Karwa, Vice President of Flipkart Ads, commented, "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. Retail media spends are currently 15 per cent to 20 per cent of digital AdEx in India, compared to 25 per cent to 30 per cent in the US and 55 per cent to 60 per cent in China. Despite the rapid growth, there is tremendous room for expansion."
