Mumbai, 19 July 2011 – The Future Group will introduce Payback as new loyalty program, improving consequently the way millions of Indian customers shop, save and get rewarded. Payback enables consumers to collect points with hundreds of relevant companies offline, online and on the move – with just a single card. All Future Group companies are set to join the sophisticated coalition loyalty program. This adds 1,600 new points of sale to the pan-Indian Payback network, doubling its size. “Joining Payback strengthens the key pillars of our businesses: scale, efficiency and customer orientation”, says Vibha Rishi, Executive Director Customer Strategy, Future Group. “With Payback, our customers enjoy an even more rewarding shopping experience while we further deepen our understanding of shopper’s wishes and buying behavior. Future Group will benefit from Payback’s marketing platform with its proven track record in boosting customer loyalty and increasing sales substantially.”
The largest Future Group retail formats will introduce Payback in September 2011. Launch brands include fashion chain Pantaloon, Big Bazaar hypermarkets, Food Bazaar supermarkets, Central malls, consumer electronics chain eZone and home furnisher Home Town. With the new multi-partner platform, consumers will experience greatly enhanced possibilities to earn points quickly and to convert them into attractive rewards. Payback offers members better deals on their purchases, easy in-store redemption opportunities at all partners and an online shopping platform representing key Indian e-commerce shops. Basic discounts on purchases from Future Group companies earned through Payback range up to 2 percent. Additionally, customers will get a remarkable amount of promotional points and discount coupons.
“The Future Group’s partnership with Payback underlines the outstanding value our program offers to companies and their customers”, says Alexander Rittweger, founder and CEO of the Loyalty Partner Group, Payback’s parent. “Adding India’s most popular retail formats vastly increases the relevance of the Payback network to consumers. It also increases Payback’s attraction for new partners. We are confident that more category leading companies will join soon.”
“Our milestone partnership with the Future Group shows the huge potential for multi-partner loyalty programs to act as catalyst for India’s consumer economy”, says Payback India CEO Vijay Bobba, “India’s dynamic retail environment creates ideal conditions for Payback’s further growth.”
Payback is the largest multipartner loyalty program in India. The additional Future Group companies will join a common platform with other pan-Indian category leaders from the banking, retail, travel and online sector such as ICICI Bank, HPCL, Air India, Megamart, Univercell, BookmyShow and MakeMyTrip.
About Future Group:
Future Group operates some of India’s most popular retail formats that include Pantaloon, Big Bazaar, Central, Foodhall, Home Town, Ezone and Food Bazaar. The group also has developed significant presence in consumer finance, capital, insurance, brand development, retail media and logistics. The retail formats bring in around 220 million customer footfalls every year and provide a platform for over 30,000 small, medium and large entrepreneurs in India to sell their products and services to these customers. The group has a retail presence in 85 cities and 60 rural destinations and employs over 35,000 people directly. The group’s flagship enterprise, Pantaloon Retail (India) Limited, was founded in 1987 and is listed in the Bombay Stock Exchange and National Stock Exchange since 1991. The company along with its subsidiaries operates around 16 million square feet of retail space in the country. Future Group has developed successful partnerships with Indian and foreign companies like Tata Group, Godrej Group, Generali, Staples and Celio. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s core value of “Indianness”. The group’s corporate credo is “Rewrite rules, Retain values”.
About Payback:
Payback is India’s first and foremost multi-partner loyalty program. Consumers and partner companies gain unprecedented advantages from Payback’s proven tools and processes. The largest partner portfolio and widest range of redemption points in India assure that members can not only collect points quickly from many outlets using just one card but also easily convert them into attractive rewards. Companies benefit from Payback’s state-of-the art direct marketing and couponing services. Payback’s parent Loyalty Partner owns a majority stake in Payback India. Peepul Capital and ICICI Ventures are additional investors. With 25.5 million active cardholders in Germany and Poland, Payback is Europe’s leading loyalty program. Customers can collect points from hundreds of well-known companies in-store, online and mobile and redeem these for vouchers, rewards, Lufthansa miles or donate them to aid projects. The very high redemption rate of 95 percent shows how relevant the scheme, its redemption channels and partner companies are for customers. Each year, Payback cards are used for sales amounting to around EUR 19 billion (USD 26.7 billion).
About the Loyalty Partner Group:
Loyalty Partner is one of the leading international providers of loyalty management solutions and supplies its clients with performance marketing solutions through Payback. The company also offers all the tools and services needed to implement customer loyalty programmes. Loyalty Partner has a workforce of 600 employees. The company is headquartered in Munich with offices in the United States, India, the United Kingdom, France, Spain and Poland.
More information:
Nina Purtscher
PAYBACK GmbH
Theresienhoehe 12
80339 Munich
Tel: +49 (0) 89 997 41 - 206
Fax: +49 (0) 89 997 41 - 90 206
Email: [email protected]
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