Flipkart has introduced a platform for insights named Flipkart IRIS to give marketers all-encompassing insights into consumer behavior

The massive online retailer Flipkart, which is owned by Walmart, has introduced a platform for insights named Flipkart IRIS (Insights and Research Intelligence System). The purpose of the new tool is to give marketers all-encompassing insights into consumer behavior. By providing companies with actionable information specific to their Flipkart success, the company hopes to empower brands, promote growth, and enable well-informed decision-making.

As a sophisticated analytics tool, Flipkart IRIS provides marketers with comprehensive data that help them enhance performance across a range of channels. It offers distinct insights into user behavior as well as comparison analysis that is industry standard. By offering unique reports that enable marketers to comprehend the high-value behaviors that customers take on the platform in relation to their products, the platform goes beyond simple analytics. 

According to the business, these insights can help brands make data-driven decisions that can boost sales and conversion rates considerably. Flipkart claims that adopting Flipkart IRIS can help homegrown D2C (Direct-to-Consumer) and new-age firms discover a number of advantages. These include of seeing fresh chances for expansion, copying how other brands are seen, refining advertising strategies, raising consumer involvement, and gauging the health of companies. 

Well-known brands are able to explore the sales funnel further, spot growth prospects, track their performance, maintain their competitiveness, and create plans that help them achieve their goals.

The introduction of Flipkart IRIS coincides with retail media's emergence as the third major digital wave, following social media and search. With retail media spends currently accounting for 15%–20% of digital AdEx in India, compared to 25%–30% in the US and 55%–60% in China, advertising-led monetization is expanding quickly in that country.