Tata Neu: A Super App that is Not Less than a Superhero
🔍Insights
The world we live in is not an ordinary one anymore. It is a digital world and technology is ruling over it. There is hardly anyone, who is not digitally connected. Everything and everyone is online, if you are not then, you are losing a very big opportunity.
The development of technology has changed the world for the better and now almost every country is focusing on transforming itself into a digital one. Not surprisingly, India is also included in this list and focuses on reaching the goal.
Wouldn’t it be nice to have all the facilities like payment and any kind of financial transaction in just a single app? Well, thanks to the digital world and its lifestyle, we have got one sooner than we have expected. There is hardly anyone, who doesn’t know about Tata. One of the biggest Indian multinational companies, the Tata Group is not only making its presence felt in the country but the entire world. The launch of the Tata super app, Tata Neu, is another feather in the cap of Tata, which has the potential of helping the company achieve many more milestones.
The much-awaited Tata Neu super app of Tata Group was officially launched in India on April 7, 2022. Speaking on the launch of Tata Neu, Tata Group Chairperson Natarajan Chandrasekaran referred to the day of the launch of Tata Neu as "Neu Day". The youngest member of the Tata Group, the Tata Neu app has finally been launched with 2,500+ offline stores and a customer base of over 120 million users.
In this article, we will talk about Tata Neu and how it is looking to change the face of digital India.
What is TataNeu?
How Tata Neu Works?
Tata Neu - Features and Services
Tata Neu - Logo
Tata Neu - Funding
Tata Neu - Growth
Tata Neu - Challenges
Future Plans For TataNeu
What is Tata Neu?
As mentioned before, because of technology, it is possible to have a super app. A super app is an application that provides various services that are necessary for a human to use. It includes services of a variety of apps in a single one, and that erases your worry about your phone storage.
To be specific, with the help of this app one can chat, get their financial transactions done, shop, and even book a ride. Thus, to make the country digitally strong, Tata Group has launched a super app called Tata Neu for both Android and iOS users. The company has integrated all the major services into the framework of the app, which has been launched in a mega-media blitz during IPL. The app is now leveraging the popularity of the IPL tournament and enabling cricket fans to watch the popular cricketing event in large numbers.
It had first passed the beta version, where a Tata Group employee got the opportunity to use the Tata Super App, when reported in November 2021. It then went through several rounds of tests. Tata Neu was said to make its presence known in early 2022. The Tata Neu app, which was all set to be launched in April 2022, was finally launched on April 7, 2022, to grab the swing of the IPL season. It is also important to note here that the Tata Group has also been declared as the title sponsor of IPL for 2022 and 2023, which was really indicative of the launch of its digital loyalty app of Tata. Being the "digital loyalty app", Tata has designed it in such a way that it will be rewarding for the customers across the Tata brands, and enable them to earn reward points and redeem them.
How Tata Neu Works?
Whenever you click on one of these features, the app will redirect you to the cross-linked apps of Tata. The super app will integrate an array of Tata Group's services under one umbrella, Tata Neu. In other words, the users of Tata Neu will get all Tata services, including BigBasket, where if you tap on grocery, you’ll be led to BigBasket; healthcare will redirect you to 1mg; for electronics retailing needs, you can go to Croma; enjoy all eCommerce deliveries for varied needs; get bill payment solutions with Tata Neu, buy electronic gadget via Tata Cliq, and more. If you are wondering about the other verticals - airline companies, Vistara and AirAsia, clothing chain Westside, coffee chain Starbucks, over–the–top services, and others, they are also integrated into the super app. This long-awaited all-in-one super app from the $103 bn conglomerate will help the users avail of everything that they might want via an eCommerce app, which would also stand as a fierce rival to the likes of Amazon, Walmart and Reliance Industries. Walmart, which earlier looked to invest around $25 mn in Tata Group, as per the reports of September 2020, for the development of the Tata Neu, probably might have surfaced to avoid such a situation.
Though there is not much valid information on whether the Tata Neu-Walmart has materialised, we will be continuing to hear from them and the other biggies in the ever-growing space of eCommerce for sure.
The Tata Neu app that was launched officially on April 7, 2022, will also be rewarding the users with 5% of the amount in the form of Neu coins, which will be rewarded to them on every single purchase. The value of 1 Neu coin will be equal to Re 1, which the users can redeem for shopping or any other services in the future, which will be powered by NeuPass, a loyalty membership programme that will allow the users to earn Neu coins on their purchases.
The Tata Neu website is tatadigital.com
Tata Neu - Features and Services
Tata Neu is packed with features that extend financial services, bill payment services, and eCommerce services, including grocery, fashion, beauty, electronics, and more to its users. Plus, you can also book hotels and tickets for movies.
The super app presently opens to a screen that sums up all the services that Tata Neu presently has for its customers, with the help of which, they can:
- Shop, eat, travel & more
- Earn rewards
- Simplify payments
Tata Neu is really a one-stop-shop for the users, as Tata rightly remarks, which would help the users:
- Deck their wardrobe with Tata CLiQ and Westside
- Grab the latest gadgets from Croma
- Get groceries from Bigbasket
- Book a flight on Air Asia
- Checkup their health and fitness with 1mg
- Book a luxurious stay at an IHCL hotel
- Order a 5-star meal on Qmin
Tata Neu has formulated NeuPass, which is a loyalty membership programme that helps the users earn Neu coins by shopping on the platform.
Tata Neu - Logo
Tata Neu - Funding
Tata Neu, which is powered by Tata Digital, has received funding of Rs 5882 crore, from Tata Sons, after it sold 2.48 cr shares to TCS, at Rs 4500 per share. This helped it receive Rs 11163 cr in liquidity. With this latest funding that came in on April 2022, the total funding that Tata Digital received from Tata Sons has become Rs 11872 cr between 2021 and 2022. The earlier reports mentioned an interim investment of up to Rs 3795.87 cr ($500 mn) for the final launch of Tata Neu and to help the super app absorb the initial cash burn issues. However, the actual investment it made, happened to be 35.46% higher than the figures reported earlier.
Tata Neu - Growth
Launched in the first week of April, Tata Neu had seen more than 2.2 million downloads already on May 12, 2022. However, Tata Neu was rated 3.9 on Google Play Store and 3.3 on Apple App Store then. Tata Neu has reportedly clocked 7 mn downloads within 7 weeks of its launch, as per the senior Tata executives in an internal magazine, as per reports dated July 13, 2022.
The NeuPass that Tata Neu is reinforced with, is helping users to earn Neu coins and is really benefitting the Tata app. This is why Tata will be looking to scale the NeuPass members to 100-150 mn in the next 2-3 years, mentioned the CEO of Tata Digital, Pratik Pal. Pal also told that Tata Neu will be having non-Tata brands too on the platform, however, they should only be from the domains that Tata has little or no presence. "Space like mobility", as identified by Pal, fits the deal, where Tata is looking to bring in outside players.
Pratik Pal declared the main pillars on which Tata Neu stands are:
- Travel and hospitality
- Entertainment
- Finance
Pal has mentioned that the Tata Neu app would be onboarding all of the 3 Tata Group airlines companies, which are Air India, Vistara, Air Asia India, and also the Indian Hotels Company (IHCL) onto the same. On the other hand, Tata PayPal will be gearing up to fill the space in the entertainment segment. However, the finance segment is still a growing headache for the company, and this would take more than a year to be filled up, according to Pratik Pal.
The Tata Cliq app has reportedly exited the consumer electronic space and is set to be merged with the all-new Tata Neu app. This move of Tata Group will help boost the traction of their new app. Tata Cliq, the consumer electronics category of which formed 50-55% of its business has been integrated with Croma, mentioned some of the sources, as per reports dated July 8, 2022.
Tata Neu - Challenges
In less than a day of its launch, Tata Neu has already started seeing its bit of challenges. The first of such is an alleged breach of privacy. Here are some of the challenges that Tata Neu has seen to date:
Tata Neu Employee Exits
Within just months after its launch, Tata Neu CTO Sauvik Banerjjee left the company. Banerjjee, who quit the company in the middle of July 2022, has earlier stated that he is a UK national and had planned earlier to move back to a global role. This had been decided before the launch so that he can move on post the Tata Neu launch. Though this is enough to spread a wave of concern, the company spokesperson mentioned that the Tata Neu team is "well placed to address any issues."
Privacy Breach
A marketing professional from the Eastern Indian side of Kolkata, Ranendra Ojha, had installed the Tata Neu app only to find that the Tata super app already had his 3 addresses with them. After a brief spell of research, Ojha discovered that Tata Neu must have pulled up the details from BigBasket, another Tata-owned app for groceries. This way, he claimed that Tata must have shared all his information across the brand.
Another person based in Bangalore, also reported such instances when he found multiple addresses, which included the address of his old home, where they live no longer.
Failure in Meeting Sales Targets
Tata Neu had failed to achieve its initial target of $200 mn in gross sales in the first month of its operation. It might have clocked $120-150 mn in gross sales during the month of April when it launched in 2022.
Future Plans For Tata Neu
Tata Sons Ltd has already invested $2 billion on October 25, 2021. As per October 2021 reports, it has planned to raise $5 billion by selling the stakes for the digital venture to external investors and is still in talks with CPPIB, Softbank, Temasek Holdings, and Abu Dhabi Investment Authority for the same. The ambitious target of Tata Neu is to clock in $2-2.5 bn in sales in the first year of the Tata Neu operations
The Tata Neu platform will reportedly add outside players in segments where Tata has a less significant presence. Tata Digital CEO, Pratik Pal also mentioned that the hospitality and travel segment would eventually emerge as the next biggies.
Tata Digital has given a valuation estimate of nearly $18 bn for the digital identity. In the wake of a super app, many elusive deals and lucrative offers are bound to follow. When that comes about a curiosity among individuals will be piqued. It will revolve around the features of the Tata Neu app, all the services it provides, what deals and offers are available, and methods to go about using the app to make the most of all its bells and whistles. Tata Neu Referral code will be one among them where you will get a reward for referring the Tata Neu app to a family or friend. They will also receive rewards when using your referral to download and sign in to the app. Tata Neu is also set to offer loyalty programmes across the different brands available on the app. This will allow customers to earn points that can be used to further shop on the app. To know more about the above-mentioned information details, visit CouponsWala, where you will find blogs explaining the same along with coupons and deals.
Varad Kitey
Conclusion
With the presence of the super app from Tata, the way we do everything, from payments to shopping will change. One app that can provide so many different features will make our work convenient, and of course, not to forget, will save our phone storage!
In a world, that is almost completely digital now, super apps are definitely the future. The super app development and the launch of a super app like Tata Neu in the market will bring a revolutionary change in the technology industry in India. Just a matter of time, and we might see the unfolding of a new era in front of our eyes.
FAQs
What is the Tata Neu app?
Tata Group came up with the concept of super apps, where the users can get all the services provided by Tata under one app. This is known as the Tata Neu, which was launched on April 7, 2022, with the help of which one can get the services of a variety of Tata apps under a single umbrella.
How much is Tata planning to invest in Tata Neu?
Tata Sons are looking to invest over $2 billion in Tata Neu.
What is the Tata new app, Tata Neu, launch date and time?
The Tata new app, Tata Neu has been launched on April 7, 2022, during the match time of the match that was played that day between Lucknow Super Giants (LSG) and Delhi Capitals (DC) from 7:30 pm.
How many super apps will India see in the coming days?
There are numerous super apps in the making for the citizens of India. Tata Neu, Jio super app, Paytm super app, SBI super app, Flipkart super app, Google super app, Amazon super app, Whatsapp super app, and Zee5 super app, are some of the upcoming Indian super apps that will soon redefine digital India!
How are the Tata Neu app downloads done?
The Tata Neu app downloads are done simply via going Google Play Store or from Apple Store.
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