Flipkart IRIS, An Innovative Insight Platform Designed Exclusively for Brands

Flipkart, the e-commerce powerhouse owned by Walmart, has introduced a new insights platform called Flipkart IRIS (Insights and Research Intelligence System). This innovative tool aims to give brands detailed insights into customer behavior.

Related: Flipkart Sets New Record with 5 Million UPI Transactions in March

By offering tailored, actionable intelligence about their performance on Flipkart, the platform helps brands make informed decisions and drive growth. The Flipkart IRIS tool serves as an advanced analytics platform, providing brands with comprehensive reports to help enhance performance across different channels. The platform offers industry-standard comparative analysis along with unique insights into user behavior. It surpasses basic analytics by delivering exclusive reports, helping brands grasp the high-value actions of consumers regarding their products. According to the company, these insights empower brands to make data-driven decisions, significantly boosting conversion rates and sales.

Flipkart claims that local Direct-to-Consumer (D2C) and emerging brands can reap many advantages from using Flipkart IRIS. These benefits include spotting new growth prospects, comparing brand perceptions, fine-tuning marketing efforts, boosting customer engagement, and tracking brand health.

Well-known brands can use it to gain deeper insights into their sales funnel, find growth opportunities, measure performance, stay competitive, and craft strategies that align with their goals.

Flipkart IRIS stands out because it offers insights that span various city tiers and socio-economic groups in India. This extensive reach enables brands to enhance their performance even in offline channels. Sandeep Karwa, Vice President of Flipkart Ads, explains, “Flipkart IRIS is a major step forward in helping brands grow and thrive on Flipkart. With actionable insights supported by comprehensive data, the platform is set to open up new growth opportunities for brands.”

The introduction of Flipkart IRIS coincides with the rise of retail media as the third major trend in digital marketing, following search and social media. In India, advertising-driven monetization is experiencing significant growth, with retail media expenditures currently accounting for 15%–20% of the digital advertising expenditure (AdEx) in India. This is lower than the 25%–30% in the US and 55%–60% in China. According to Karwa, in the first quarter of 2024, digital AdEx in India has surpassed 25–30%. Despite this rapid growth, there is still a vast opportunity for further expansion.

Flipkart, the e-commerce giant owned by Walmart, has launched a new insights platform called Flipkart IRIS. This advanced analytics tool aims to provide brands with detailed, actionable intelligence about customer behavior and performance on the Flipkart platform. Flipkart IRIS offers comprehensive reports, comparative analysis, and unique insights to help brands make data-driven decisions, boost conversion rates, and drive growth. The platform is particularly beneficial for local D2C and emerging brands, enabling them to spot new opportunities, fine-tune marketing, and track brand health. Flipkart IRIS is a significant step in the rising trend of retail media, as advertising-driven monetization continues to grow rapidly in India’s digital landscape.