Jewelry Retail Giant, Tanishq, Joins Hands With MoEngage 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 their 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.
‘In just three months that we have been using Flows, we’ve increased our weekly retention rates by ~10%. 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’-said Jeevant Sarma, Lead Product Manager, Tanishq E-commerce and Omni.
Speaking about the consumer behavior changes, their impact, and the need for elevated, insights-led customer engagement, MoEngage’s Chief Business Officer (APAC & EMEA), Yash Reddy, 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.”
Tanishq is an Indian Jewelry brand and a division of Titan Company Ltd. Founded in 1994, the jewelry brand is headquartered in Bangalore, Karnataka, India. The organization brought about a paradigm shift in the Indian watch market when it introduced its futuristic quartz technology, complemented by international styling. With India’s two most recognized and loved brands, Titan and Tanishq, to its credit, Titan Company Ltd is the fifth largest integrated own brand watch manufacturer in the world.
MoEngage is an insights-led customer engagement platform trusted by more than 1,200 global consumer brands such as Big Basket, Future Retail, McAfee, Flipkart, Domino’s, Nestle, Deutsche Telekom, OYO, and more. MoEngage empowers marketers and product owners with insights into customer behavior and the ability to act on those insights to engage customers across the web, mobile, email, social, and messaging channels. Consumer brands across 35 countries use MoEngage to power digital experiences for over 1 billion customers every month. With offices in ten countries, MoEngage is backed by Goldman Sachs Asset Management, B Capital, Steadview Capital, Multiples Private Equity, Eight Roads, F-Prime Capital, Matrix Partners, Ventureast, and Helion Ventures.
To learn more, visit www.moengage.com.