Payback to double its presence in India
In India, Future Group has joined the Payback coalition loyalty programme, allowing customers of the retail group to collect Payback points starting in September 2011, and effectively doubling the Payback marketing platform's size in one go.
All Future Group companies are to join the coalition, adding 1,600 new points of sale to the pan-Indian Payback network. The group will begin by adding its largest retail formats to Payback from September, with launch brands including fashion chain Pantaloon, Big Bazaar hypermarkets, Food Bazaar supermarkets, Central malls, consumer electronics chain eZone and home furnisher Home Town.
The remaining Future Group companies will later join a common platform with other pan-Indian firms from the banking, retail, travel and online sector, including ICICI Bank, HPCL, Air India, Megamart, Univercell, BookmyShow and MakeMyTrip.
"Joining Payback strengthens the key pillars of our businesses: scale, efficiency and customer orientation", explained Vibha Rishi, executive director of customer strategy for Future Group.
With the multi-partner platform, consumers will benefit from the ability to earn points quickly and convert them into rewards. Payback offers in-store redemption opportunities at all partners, as well as an online shopping platform representing key Indian e-commerce outlets. Basic discounts on purchases from Future Group companies earned through Payback will be up to 2%. Additionally, customers will be offered other promotional points and discount coupons.
According to Alexander Rittweger, founder and CEO for the Loyalty Partner Group, Payback's parent company, "Adding popular retail formats vastly increases the relevance of the Payback network to Indian consumers. It also increases Payback's attraction for new partners. We are confident that more category-leading companies will join soon."
Future Group operates retail formats including Pantaloon, Big Bazaar, Central, Foodhall, Home Town, Ezone and Food Bazaar, and also has a presence in consumer finance, capital, insurance, brand development, retail media and logistics. The retail formats account for some 220 million customer footfalls per year, and provide a platform for over 30,000 small, medium and large entrepreneurs in India to sell their products and services. The group has a retail presence in 85 cities and 60 rural destinations and employs over 35,000 people directly.
Payback's parent company, Loyalty Partner, owns a majority stake in Payback India. Peepul Capital and ICICI Ventures are additional investors. The Payback programme in Europe has a combined total of 25.5 million active cardholders across Germany and Poland. In Europe, the programme claims a redemption rate of 95%, with Payback cards being tied to sales amounting to approximately 19 billion (US$26.7 billion).