The Company to launch India's first Rural focussed Vakrangee Kendra loyalty program to recognize its customers loyalty by providing them extra benefits and a more rewarding & better experience across its network of Nextgen Vakrangee Kendras.
The reward program aims to be one of the India's largest rural focussed loyalty programs with a clear focus on the untapped and underserved Rural customer base. The program is more personal and relevant to customer by rewarding customers for what and how they shop at their nearest Nextgen Vakrangee Kendra. The program will offer personalized offers, access to exclusive events and services as well as opportunities to earn points for its loyal customers.
Vakrangee currently has 21,000 (8,500 operational & 12,500+ under on-boarding process) Nextgen Vakrangee Kendra's spread across 29 States & UTs, 500+ districts and 5,800+ postal codes. More than 70% outlets are in Tier 5 and tier 6 cities. Vakrangee is targeting to reach at least 25,000 outlets by FY2019-20.
Commenting on this, Mr. Anil Khanna, Managing Director & Group CEO said that, "At Vakrangee our focus has always been on our customer's convenience and we put them at the forefront of our platform, offering them a wide range of products and services to choose from, now with loyalty program we shall be able to leverage Artificial Intelligence and build our knowledge on their behavioural spending, thus resulting into new offerings, deals and more transactions. At the same time, we are cognizant of Customer's Data privacy, hence have built a robust and secure system accordingly.
We saw a significant opportunity to improve how we connect with our customers and put smiles on customer's faces. By increasing our focus on customer loyalty we would ensure that our customers feel valued, are rewarded & recognized, and receive communications that are more engaging. The idea behind was to be able to reward the most loyal customers with extra benefits and experiences."
Commenting on this, Mr. Dinesh Nandwana, Executive Chairman said that, "At Vakrangee, we always believe that businesses can have a positive impact on the societies in which they serve. We are focussed on creating a sustainable network of last mile retail outlets covering each and every postal code of the country offering variety of products and services.
Our endeavour is to bridge the rural and urban divide and this Loyalty program is another initiative in the same direction. This would help us be closer to our customer base and help them serve better. We believe this would emerge as One of India's largest rural focussed loyalty program with a target of enrolling atleast 10 mn customers within next 12 months."
Shares of Vakrangee Limited was last trading in BSE at Rs.40.55 as compared to the previous close of Rs. 40.85. The total number of shares traded during the day was 288920 in over 623 trades.
The stock hit an intraday high of Rs. 41.15 and intraday low of 40.4. The net turnover during the day was Rs. 11765639.