i-Mint - An Innovative Coalition Loyalty and Consumer Rewards Program in India

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"Running a loyalty program on an individual store level is becoming expensive and marketing initiatives are getting realigned. They (retailers) realize that in a shared program, upfront investment is low and they have access to a much larger customer database. Partnering with i-mint gives businesses access to over nine million customers and companies like Loyalty Solutions also help clients identify repeat customers and customers with large billings."¹

- Vijay Bobba, CEO, Loyalty Solutions and Research Limited, in April 2009

Introduction

On February 03, 2009, i-mint the pan-India customer loyalty program was awarded the best Customer Loyalty Program award2 by Asia Retail Congress3. The i-mint program was launched on August 01, 2006, by Loyalty Solutions and Research Limited (LSRL)4. It was a unique concept based on a multiple coalition partners' rewards program in India. The national coalition partners were India's six leading brands - Airtel, HPCL, ICICI Bank, Air India, Lifestyle, and MakeMyTrip.com. With its launch, i-mint emerged as the largest network of business partners coming together to offer consumers the benefits of a common rewards platform.

Commenting on the launch of i-mint, Vijay Bobba (Bobba), CEO, LSRL, said, "i-mint is the beginning of a new marketing renaissance. Coalition loyalty programs⁵ have been a success in other parts of the world. With i-mint, we intend to start a revolution in India. We have taken into account all the needs and aspirations of an Indian consumer, and have created a quality product to suit all lifestyles. It is our goal to empower the consumer with the ultimate freedom of choice in the world of rewards!"⁶

i-Mint Introduciton Contd... | Next Page>>

1] "Falling Footfalls Push Retailers to Rework Loyalty Programmes," www.thehindubusinessline.com, April 17, 2009.

2] www.imint.in/flow/aboutus.

3] Asia Retail Congress is one of Asia's global platforms that encourage world-class retail activities.

4] Incorporated in February 2006, LSRL is a subsidiary of Tech Process Solutions Limited. Both companies are network companies of ICICI Venture Funds. LSRL's core line of business is to conceptualize, design, develop, & promote consumer loyalty programs.

5] Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior - behavior which is potentially of benefit to the firm (Source: Sharp, Byron and Anne Sharp (1997), 'Loyalty Programs and Their Impact on Repeat-Purchase Loyalty Patterns', International Journal of Research in Marketing, 14 (5), 473-86).

6] "i-mint - Coalition Loyalty & Customer Reward Program Launched," www.moneycontrol, August 02, 2006.

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