Mumbai: E-commerce enabler POP has announced it will onboard about 500 brands by March 2024, allowing their shoppers to use its rewards coins and get discounts.

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 programs and points system. POP’s currency can be redeemed across various brands, similar to an alternate form of payment currency during shopping.

With POPcoins, consumers can overcome the confusion of unstructured loyalty programs and earn and shop across brands on the POP network using POPcoins. This initiative simplifies and unifies loyalty programs across India’s brand and business ecosystem, providing consumers with a rewarding shopping experience.

"At POP, we understand the challenges consumers face with multiple loyalty programs. POPcoins are designed to break down these barriers, providing a seamless experience for both brands and consumers," said POP founder & CEO Bhargav Errangi.

Errangi, a former senior director of Flipkart, leads a team of seasoned loyalty and growth professionals with a track record of success in scaling loyalty programs like Payback and Flipkart Supercoins.

He said the POP network will grow to 500+ brands by March 2024. Leading D2C Brands such as Perfora, Slurrpfarm, Anveshan, and Khadi Essentials have joined the network, and their loyalty constructs are powered by POPcoins.

Unlike traditional loyalty programs confined to a single brand, POPcoins transcend these boundaries. They act as an omnipresent currency, empowering users to earn and redeem across a vast network of brands. This unique feature positions POPcoins as a catalyst for creating a large and engaged community of online shoppers, fostering collaboration, and supporting India's growing e-commerce ecosystem.

In the evolving landscape of loyalty programs, POPcoins draw inspiration from successful models like Flipkart's Supercoins and Tata Group's NeuCoins. Unlike its predecessors, POPcoins stands out with its democratic approach with no boundaries, aiming to redefine loyalty programs and establish a new standard for customer retention and engagement in Indian retail.

Since its beta launch in May 2023, POPcoins have garnered immense recognition, engaging over 1.5 million customers within the POP network, which is expected to grow to 10 million by March 2024.

POPcoins, being the common link between a wide range of brands across sectors, can also act as a channel for brands to get new customers who are like-minded and have similar purchase histories.

“POPcoins, hands down, has been a one-of-a-kind loyalty program. 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. We're beyond excited to keep this partnership rolling and offer our customers the true reward they deserve for their loyalty to our brand through POPcoins!” said Perfora growth head & D2C business Drishti Singhal.

“Our journey with the POPcoins product and team has been truly outstanding. We've experienced remarkable results in our loyalty engagement, seeing an impressive 10X increase, and have observed a significant 15% boost in our returning customer numbers,” said Anveshan co-founder Aayushi Khandelwal.