SUMMARY
Tata Neu is open to having non-Tata brands on the platform, but only in domains where the Tata Group has no significant presence: Tata Digital CEO
Tata Digital CEO said that the company is looking to scale the number of NeuPass members to 100-150 Mn in the next two-three years
Tata Neu is looking to onboard all three Tata Group airlines as well as the Indian Hotels Company
Tata Digital’s super app Tata Neu has reportedly logged more than 7 Mn downloads within seven weeks of its launch, said senior executives of the company in an internal magazine.
Tata Digital CEO Pratik Pal was quoted by Business Standard as saying, “We have made a good beginning with around 7 million downloads as we speak.”
He further added that the company is looking to scale the number of NeuPass members to 100-150 Mn in the next two-three years.
NeuPass is a loyalty membership programme that allows users to earn Neu coins on shopping on the platform.
Pal also said that Tata Neu is open to having non-Tata brands on the platform, but only in domains where the company has no significant presence.
“While we will continue to showcase our marquee brands, there are spaces where we do not have a presence, like mobility. We are working to bring in other players from outside the group in these areas,” noted Pal.
The statement comes a few months after Tata Group Executive Chairman N Chandrasekaran said that the super app would list brands from other companies on Tata Neu.
In the magazine article, Pal also said that the product categories are well established across the Tata Neu platform, adding that the next big play on the platform would emerge from the hospitality and travel segment.
He also said that the super-app stands on three pillars – travel and hospitality, entertainment and finance.
The report noted that the company is looking to onboard all three Tata Group airlines – Air India, Vistara and AirAsia India – as well as the Indian Hotels Company (IHCL) onto the super app. On the entertainment front, the conglomerate is targeting the space with its offerings under Tata PlayPal.
The finance segment continues to be a source of headache for the company. According to Pal, finance-related offerings on the super app would take more than a year to fructify.
Quoting App Annie, the Business Standard report said that the company had already clocked 11 Mn downloads on various app marketplaces. Google Play Store has raked up the maximum number of downloads, accounting for more than 5 Mn downloads.
Tata Neu offers a host of services all under one umbrella, including UPI payments, hotel or flight booking and shopping for groceries, electronics and medicines, among others.
The app was unveiled on April 7 this year and has since been a major focus for the conglomerate.
Earlier this month, it was reported that the Group’s online retail platform Tata Cliq has exited consumer electronics business and is to be integrated with Tata Neu.
Despite much fanfare around the launch, the super app failed to meet the internal target of $200 Mn gross sales in the first month of its operation. Tata Neu reportedly did gross sales between $120-150 Mn in the first month.
Tata Digital has an ambitious target of $2 Bn -$2.5 Bn in sales in the first year of Tata Neu’s operations. The super app competes with likes of deep-pocketed giants such as Amazon, Flipkart and Reliance Jio.
