e-commerce
POP to Introduce POPcoins for 500+ brands by March 2024
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.
e-commerce
Flipkart rolls out 105 per cent bonus for 20,000 employees
Strong FY25 performance drives payouts even as layoffs and shifts unfold.
MUMBAI: In a year where belts were tightened and rewards loosened, Flipkart seems to be playing both offence and defence trimming roles on one hand while handing out a generous 105 per cent bonus on the other. The Walmart owned e commerce major has rolled out a 105 per cent bonus payout for 2025, covering nearly 20,000 employees, signalling a year of steady operational momentum even as the company navigates restructuring pressures. The payout, communicated internally by chief human resources officer Seema Nair, is tied to performance across key metrics including growth, operational efficiency, financial outcomes and people indicators, a combination that suggests the company is inching closer to its long stated goal of sustainable profitability.
Employees at SD level and below are set to receive their bonuses in March, while payouts for senior leadership, including vice presidents and senior vice presidents, will follow after the close of the performance cycle. The elevated 105 per cent multiplier stands out in a sector where cautious payouts have increasingly become the norm, pointing to what appears to be a relatively strong internal scorecard for FY25.
Yet, the announcement arrives with a noticeable contrast. Earlier this year, Flipkart reduced its workforce by around 300 roles as part of its annual performance review process. While officially framed as performance driven, the juxtaposition of layoffs alongside above target bonuses reflects a more nuanced balancing act, one that prioritises cost discipline while continuing to reward and retain high performing talent.
This dual approach is becoming increasingly common across the technology and e commerce landscape, where companies are navigating an uneven hiring environment while under pressure to deliver profitability. Rewarding top contributors, even amid selective workforce reductions, allows firms to maintain morale and retain critical talent without losing sight of financial prudence.
At the same time, Flipkart is also undergoing leadership shifts that hint at a broader strategic recalibration. Nishant Verman has been appointed senior vice president for corporate development and partnerships, while group chief financial officer Sriram Venkataraman is set to step down. Ravi Iyer will take on expanded responsibilities within the finance function, marking a reshuffle at the top as the company gears up for its next phase.
These changes come amid reports that Flipkart is planning to shift its holding structure back to India, a move widely interpreted as groundwork for a potential public listing. While timelines remain fluid, the combination of stronger financial discipline, leadership restructuring and employee incentivisation suggests a company preparing itself for greater scrutiny and scale.
For employees, the 105 per cent payout offers a welcome boost in what has otherwise been a period of adjustment. For Flipkart, it is a signal that even as it cuts where necessary, it is willing to spend where it counts. In the high stakes game of growth versus profitability, the company appears to be hedging its bets carefully, rewarding performance while reshaping itself for what could be its most defining chapter yet.
