Tata Group has finally announced the launch of aNeu, its much-anticipated super app, on April 7, in an attempt to compete with Amazon and Jio Platforms amid the’mobile-first’ country’s phenomenal rise in the consumer digital economy.
On its app as well as the Google Play Store, the corporation announced the launch date of ‘Neu,’ stating that “start your new journey with us on April 7.”
“Experience the rewarding world of Tata Neu, packed with exclusive offers, benefits and privileges. It’s your one-stop-shop for a seamless shopping and payments experience,” according to the company.
The Tata Group, which has been testing ‘Neu’ with its employees for some time, plans to unite several loyalty programmes such as BigBasket and 1mg with ‘NeuCoins.’
Users are also paid for shopping, booking flights and hotels, and other activities. NeuCoins, cards, UPI, EMI, and more may be used to make payments across numerous Tata brand apps, websites, and in-store.
Other firms, such as Amazon, Paytm, and Reliance Jio, have already developed super apps that include services like payments, multimedia streaming, shopping, travel bookings, and grocery.
JioMart, a subsidiary of Mukesh Ambani’s Reliance Industries, is also planning to enter the super app market.
Successful super applications have been established around key services such as social messaging, digital payments, food technology, e-mobility, online shopping, and utility bill payment all over the world.
According to market research firm RedSeer, India’s consumer digital economy is expected to reach $800 billion by 2030, with online shopping accounting for the majority of the pie.
The country’s online retail business is expected to rise to $350 billion in gross merchandise value (GMV) during the next decade, according to the analysis.