New Delhi: In a bid to compete with Jio and Amazon amid the growth in consumer digital economy platforms, Tata Group has announced the launch of its much-anticipated app ‘Neu’ on April 7.
"Experience the rewarding world of Tata Neu, packed with exclusive offers, benefits and privileges. It's your one-stop-shop for a seamless shopping and payments experience,” said a release issued by the company.
"Find everything from groceries, to gadgets, to getaways on Tata Neu. Pay instantly for any of your online and in-store purchases, utility bills and more, using Tata Pay," it added.
Tata Group, which has been testing the app with its employees for some time, aims to put a check on different loyalty offerings by BigBasket and 1mg, etc and merge them with 'NeuCoins'.
The users would also get rewarded every time they shop, book flights and hotels, and more.
"Consume cutting-edge digital content, make payments, manage your finances, plan your next holiday or perhaps just your next meal - there's lots to explore and experience in the world of Tata Neu," the company release added.
A consumer can also make payments across the multiple Tata brand apps, websites and in-store using the NeuCoins, cards, UPI, EMI and other options.
Other companies such as Amazon, Paytm and Reliance Jio have already built their super apps where they provide services such as payments, content streaming, travel bookings, groceries, among others.
Reliance Industries' JioMart owned by Mukesh Ambani is also set to get into the super app business.
Notably, India's consumer digital economy is estimated to reach a massive $800 billion by the year 2030, as per a study by market research firm RedSeer.
The online retail market is also likely to grow to $350 billion in gross merchandise value (GMV) over the next decade, the report further added.