Tata Groups super app Tata Neu is set for launch on April 7th after the company announced a teaser image on the app’s Google Play Storage page.
It had started publicly advertising the super app for the first time along with the ongoing Indian Premier League tournament. So far, the app has been restricted for use for the Tata Group employees but from April 7th it’ll be open to the public.
Tata Neu is the conglomerate’s super app that brings together all of its digital services and apps on a single platform.
On its play store page, the app’s description reads:
“Consume cutting-edge digital content, make payments, manage your finances, plan your next holiday or perhaps just your next meal, there’s a lot to explore and experience in the world of Tata Neu.”
Tata Neu and Services
Various Tata Group digital services such as booking flight tickets on AirAsia India, Air India or booking hotels at Taj Group properties, ordering groceries from Big Basket, medicines from 1mg, or purchasing electronics from Croma and apparel from Westside will be possible through Tata Neu application.
For spending on the app, the company will reward its users with Neu Coins that will be redeemable on the services being provided through the app.
Several other internet conglomerates such as Amazon, Paytm, and Reliance Jio have built their versions of super apps, where they provide a bouquet of services such as payments, content streaming, shopping, travel bookings, groceries, etc.
Why do Indian companies want super apps?
A country or a region becomes super app ready when a large base of its population are smartphone users and the eco-system of apps customized to local needs is not evolved.
India has already become a market where a majority of those experiencing the internet for the first time are making transactions on their mobile phones which is one of the main reasons why Indian companies are looking at building super apps.
Apart from increased revenue realization due to the consolidation of services in one place such apps also provide companies with large swaths of consumer data which can then be harnessed to learn more about user behavior.
The group is expected to make an “interim investment” of around $500 million and infusion of the fund would be done in multiple tranches as Tata Digital needs to expand aggressively, to take on entrenched incumbents like Amazon Inc., and Wal-Mart Reliance Group’s Jio Platform.
Tata Digital has an estimated valuation of $18 plus for the digital entity, which includes Big Basket, online pharma store 1mg, Croma and Tata Cliq. Investors are however keen to assess the scale of revenues or gross merchandise value that Tata Digital can offer within a year of operations.
Conclusion
Tata Group’s future growth strategy will be on four themes: – Digital, New Energy, Supply Chain resilience, and health. Tata’s companies are already adapting to these changes, from 5G to Tata Neu their new pilots of business are poised to benefit from the themes to go forward.
Published By – Damandeep Singh
Edited By- Kritika Kashyap
