Since its launch in early May this year, the company has already roped in 100 brands on its network, offering its rewards currency POPcoins and replacing traditional loyalty programmes and points system. POP’s currency can be redeemed across various brands, similar to an alternate form of payment currency during shopping.
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“At POP, we understand the challenges consumers face with multiple loyalty programmes. POPcoins are designed to break down these barriers, providing a seamless experience for both brands and consumers,” said Bhargav Errangi, founder and chief executive officer of POP.
Errangi, a former senior director of Flipkart, has earlier scaled loyalty programmes like Payback and Flipkart Supercoins.
With POPcoins, consumers can overcome the confusion of unstructured loyalty programmes and earn and shop across brands on the POP network using POPcoins. This initiative simplifies and unifies loyalty programmes across India’s brand and business ecosystem, providing consumers with a rewarding shopping experience, he said.
He added that the POP network will grow to over 500 brands by March 2024. D2C brands such as Perfora, Slurrpfarm, Anveshan, and Khadi Essentials have joined the network, and their loyalty constructs are powered by POPcoins.
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Unlike traditional loyalty programmes confined to a single brand, POPcoins act as an omnipresent currency, allowing users to earn and redeem across a vast network of brands.POPcoins draw inspiration from models like Flipkart’s Supercoins and Tata Group’s NeuCoins. Since its beta launch in May 2023, POPcoins have engaged over 1.5 million customers within the POP network, which is expected to grow to 10 million by March 2024.
“Since going live, our engagement rates have spiked, and working with the team has been an absolute joy. They leave no stone unturned and keep on delivering the results they commit,” Drishti Singhal, D2C Business and Growth Head at Perfora.