The second half of Day 2 of Goafest 2024 began with an informative masterclass by Flipkart Ads, on the topic of “Flipkart IRIS: Winning the e-commerce game with deep analytics”. Presenter Khushagra began by citing data from a survey Flipkart did with Bain. He stated that the Indian shopper base continues to explode, with 230-250 million online shoppers in India by the end of 2023. Yet 60% of Indians don’t shop online, indicating a massive headroom to grow in e-commerce.
After this, Khushagra introduced the “new hero and friend in the market” – Flipkart IRIS (Insights and Research Intelligence System). His colleague Saksham continued the masterclass, stating that Flipkart IRIS essentially elaborates the marketing funnel, and can process petabytes of data weekly. One of its salient features is its homepage, which gives an overview of a brand’s performance, vis-à-vis leaders as well as competitors. Flipkart IRIS also gives consumer insights, which allow a deeper look into consumer trends. It also measured brand recall – or how well consumers can recall brand names while shopping. Other features that Flipkart IRIS provides include Share of Voice, a search term report, an alternate purchases report, a complementary purchases report, a sales report, a top seller report, and a download centre. This masterclass left the attendees with constructive insights into achieving success in the e-commerce market today with the help of Flipkart IRIS.
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