Tata group launches super app Tata Neu
Tata group on Thursday launched possibly India’s first super app, Tata Neu, that brings together grocery-to-hotel-to-airline ticket booking and medicine on a single platform, rivalling similar products from Amazon and Walmart’s Flipkart.
In a social media post, Tata Sons Chairman N Chandrasekaran said Tata Neu combines the traditional consumer-first approach of the group with the modern ethos of technology.
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“It is a Neu day today! Tata Digital, the youngest member of the Tata family, brings you Tata Neu today,” he wrote on LinkedIn.
He further said, “Tata Neu is an exciting platform that gathers all our brands into one powerful app. Combining our traditional consumer-first approach with the modern ethos of technology, it is an all-new way to discover the wonderful world of Tata.” As the Tata Neu app goes live today, Chandrasekaran said, “It makes me proud to see so many of our trusted and loved brands Air Asia, BigBasket, Croma, IHCL, Qmin, Starbucks, Tata 1Mg, Tata CLiQ, Tata Play, Westside on the Tata Neu platform already, and Vistara, Air India, Titan, Tanishq, Tata Motors soon to join.” It wasn’t immediately clear if the existing users having apps like BigBasket, 1mg and Air India will have to uninstall them and install the superapp or the existing apps would automatically integrate into the new app.
What’s new? Tata Neu! Say hello to the superhero of apps. @tata_neu brings together all our brands you know and love under our first ever super app. 🎉 #ThisIsTata #TataNeu pic.twitter.com/2be7pXyZQc
— Tata Group (@TataCompanies) April 7, 2022
The group has been testing the app since last year as it seeks to play a big role in the fast growing e-commerce space. In the build up, the salt-to-software conglomerate went on an acquisition spree in the e-commerce space.
In May last year, Tata Digital acquired a majority stake in online grocery seller BigBasket for an undisclosed sum, pitting it against the likes of billionaire Mukesh Ambani’s Reliance JioMart and Amazon.
This was followed up the next month, with an investment of USD 75 million (around Rs 550 crore) by Tata Digital, in fitness-focused Curefit Healthcare for an undisclosed stake and acquisition of a majority stake in 1MG Technologies Ltd, an online healthcare marketplace for an undisclosed sum.
Sharing the group’s vision of its super app, Chandrasekaran said, “Our aim is to make the lives of Indian consumers simpler and easier. The power of choice, a seamless experience, and loyalty will be at the centre of Tata Neu, delivering a powerful One Tata experience.” Welcoming customers “to the Neu World”, he said, “We look forward to learning continuously, to keep evolving, and meet the needs of our consumers.” The conglomerate’s launch of Tata Neu comes at a time when e-commerce has grown exponentially in India with the coronavirus pandemic accelerating online purchases of products.
According to India Brand Equity Foundation, the Indian e-commerce market is expected to grow to USD 111.40 billion by 2025, from USD 46.2 billion as of 2020. By 2030, it is expected to reach USD 350 billion.
In his New Year message to the employees of the conglomerate, Chandrasekaran had identified ‘digital’ as one of the four themes along with new energy, supply chain resilience, and health as the group looks ahead to the future.
Chandrasekaran had said the group’s new pilots and businesses, from 5G to TataNeu and Tata Electronics, were poised to benefit from the four themes going forward.