Tanishq Plans to Improve Customer Retention Rates

With COVID-19 hitting all industries and organizations head-on, Tanishq was one of the companies that were able to successfully re-configure its business to cope with the pandemic.
Tanishq Plans to Improve Customer Retention Rates 

Tanishq, the jewelry brand by Titan Company Ltd, has onboarded MoEngage, a leading insights-led customer engagement platform, to improve Day 1 and weekly customer retention rates. With COVID-19 hitting all industries and organizations head-on, Tanishq was one of the companies that were able to successfully re-configure its business to cope with the pandemic.

Some of the “new-age” buying initiatives that contributed to Tanishq’s success were introducing virtual jewelry try-on, the provision of video calling, real-time live assisted chats and appointment-based shopping. Needless to say, the online buying experience has found permanence in today’s consumer shopping patterns. 

Tanishq also recently launched the offering of digital gold products to its shoppers, becoming the first large-scale jewelry retailer in India to offer the same. Using MoEngage’s stylized push notifications capabilities prompted by specific Flows set in place, Tanishq aims to improve customer retention rates by communicating relevant product recommendations in the most engaging way possible. 

Jeevant Sarma, Lead Product Manager, Tanishq E-commerce and Omni said, ‘In just three months that we have been using Flows, we’ve increased our weekly retention rates by ~10 percent. We’ve also been able to increase our overall platform conversion rates drastically. MoEngage has helped us communicate and engage better with our customers by providing access to crucial insights. We can now enrich the customer journeys and experiences in our app even further, and we look forward to diving deeper into other powerful capabilities, like Dynamic Product Messaging (DPM), to level up the personalization factor in our communications.’

Yash Reddy, Chief Business Officer (APAC and EMEA), MoEngage’s, said, ‘There has been a massive shift in consumer behavior, post-pandemic. As rightly quoted by a recent McKinsey study- we have covered a “decade in days” when it comes to digital adoption. What Tanishq is offering as a jewelry retailer is a holistic experience to its customers by bringing together the ease of accessing products through the online platform and the trust that the offline stores provide together seamlessly.” 

Adding intelligent communication strategies, enabled by a customer engagement tool like MoEngage, to the mix- it’s a recipe for success! A brand’s antennae must be tuned to the frequency of changes in the external environment, and Tanishq is a perfect example of the same. We are thrilled to partner with such a celebrated Indian brand and look forward to accomplishing big milestones together,” he added. 

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