As was widely speculated, the Tata Group will launch its much-anticipated super app, Neu, in the backdrop of the IPL 2022, for which it is the title sponsor.
The company is hoping to make big splash using the IPL, as the event, which gets all the eyeballs and media coverage, is the ideal launchpad for such big-ticket launches.
The launch date of 'Neu' was revealed on its app as well as on Google Play Store, with the terse line: "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," the company, with 155-year history, said.
All eyes on 'NeuCoins'
The multi-utility app, which has been delayed for various reasons, would bring together multiple consumer services owned by the group including the brick-and-mortar Croma Retail stores, a multi-brand option for all consumer electronics products in India, BigBasket, a leading online grocer, 1Mg, an e-pharmacy platform.
Various Tata Group digital services such as booking flight tickets on AirAsia India, Air India or booking hotels at Taj Group properties, or purchasing apparel from Westside will also be possible through the new super app.
The company had already tested the super app with its customers and some chosen clients. While the initial word was that the app was a bit buggy, later some of the users could not stop raving about it as it provides a seamless connectivity to all the companies and services that the Tata Group is in.
The Tata Group will offer loyalty rewards, named NeuCoins, to the customers of the various services and goods of the companies in the Tata Group ambit. The one-stop shop reward points will seamlessly accrue to user of the super app irrespective of which Tata company they do business with. The existing loyalty system of the various Tata companies will be dispensed with going forward, and everything will be linked to the NeuCoins, which is reported to be equivalent to one Indian rupee.
"Find everything from groceries, to gadgets, to getaways on Tata Neu. Pay instantly for any of your online and in-store purchases, utility bills and more, using Tata Pay," it added. The users also get rewarded every time they shop, book flights and hotels and more. The rewards, the company hopes, will be the biggest lure for consumers to use the super app.
Users can can make payments across multiple Tata brand apps, websites and in-store using NeuCoins, cards, UPI, EMI and more.
A battle of world's richest man, India's richest man, and India's oldest company
"Consume cutting-edge digital content, make payments, manage your finances, plan your next holiday or perhaps just your next meal - there's lots to explore and experience in the world of Tata Neu," the company said.
The super app will be in direct competition with Amazon, Paytm and Reliance Jio, which already have their super apps, where they provide services such as payments, content streaming, shopping, travel bookings, groceries, etc.
N Chandrasekharan, the chairman of Tata Sons, the holding company of the group, had earlier said that the super app would have a plethora of apps functioning independently. "This is a big opportunity for us as the Tata Group, depending on how you count, touches several hundred million consumers across India, if you were to take only the consumers walking into a Tata facility."
India's consumer digital economy is projected to reach a massive $800 billion by 2030. The online retail market in the country is likely to grow to $350 billion in gross merchandise value (GMV) over the next decade.
It is into a well-established milieu, straddled by the world's richest man and India's richest man, that the country's oldest business house is venturing.
The battle should be interesting.
