Flipkart launches insights platform IRIS to help brands bolster business

Delhi: Flipkart, India's homegrown e-commerce marketplace, announced the launch of its insights platform, Flipkart IRIS. The platform, which stands for Insights and Research Intelligence System (IRIS), signifies an advancement in providing comprehensive intelligence about customer behavior to brands. Flipkart IRIS aims to empower brands with actionable insights tailored to their performance on the platform, fostering growth and facilitating informed decision-making. 

Flipkart IRIS will providing detailed reports to guide performance improvement across funnels. In addition to industry-standard comparative analysis and user behavior insights, Flipkart IRIS aims to allow brands to understand the high value actions of consumers for their products on the platform. 

These reports aim to empower all brands across their growth trajectory to gain a deeper understanding of consumer behavior and market trends, allowing them to make data-driven decisions that can significantly improve conversion rates and sales. 

Flipkart IRIS aims to help homegrown brands in uncovering new growth opportunities, mirroring the perception of brands, optimising marketing campaigns, enhancing customer engagement, and measuring brand health. Leveraging business intelligence and rich data, established brands will be able to deep dive into the funnel, where there is an opportunity for them to grow their business, measure their performance, stay competitive and craft strategies that meet their objectives. 

Sandeep Karwa, Vice-President, Flipkart Ads, said, "Flipkart IRIS represents a significant advancement in empowering brands to bolster their businesses and succeed on Flipkart. With Flipkart IRIS, we aim to provide brands with actionable insights about their business performance on Flipkart. By empowering brands to make strategic decisions backed by rich data, the platform is poised to unlock unprecedented growth opportunities for brands on the platform. Retail media spends are only 15%–20% of digital AdEx in India, compared to 25%–30% in the US and 55%–60% in China. In the first quarter of 2024, digital AdEx in India increased to over 25–30%. Despite the rapid growth, the headroom to grow is tremendous."