Tata Neu Explained

Tata Neu
Tata Neu
Logo Caption:Tata Neu Logo
Developer:Tata Group
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Operating System:Android, iOS
Language:English
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Tata Neu is a multi-purpose super-app, developed in India by the Tata Group.[1] [2] [3] It is the country's first super-app.[4] The app was launched to coincide with the start of a 2022 Indian Premier League match.[5] [6] [7]

History

Tata Neu was launched on 7 April 2022, during which the servers were overloaded.[8] Sales numbers missed the million targets set by Tata Digital. Reports stated that Tata Digital received as much as billion in funding from Tata Group for the Tata Neu app and additional investments. By May ending the app had nearly 11 million downloads, however the app was bugged with constant glitches and slow response time leading to a reduction in customer usage.[9] [10] [11]

As the reports of high number of bugs and sluggish user experienced continued, reports emerged that Tata Neu CTO had resigned within 4 months and the app faced backlash over data sharing of customer info between companies.[12] In January 2023, Mukesh Bansal the President of Tata Digital and head of operations for Tata Neu stepped down from Tata Neu with Pratik Pal, the CEO of Tata Digital, looking after all the business decisions at the firm.[13] [14] Soon, additional reports emerged that Tata Neu is set to miss the first year GMV by as much as 50%. Internal projections showed the company projecting GMV by March 2023 at billion vs expected billion (which was scaled down from billion).[15] [16]

The Tata Neu app, which was revamped in time for the 2023 Indian Premier League (IPL) season, saw a significant increase in downloads and membership following the tournament.The Tata Group's sponsorship of the IPL and the heavy promotion of the Neu app during the matches likely played a role in this growth. Post the revamp, Neu’s rating on the Google Play store has improved from 3.8 to 4.2.[17]

Notes and References

  1. Web site: 2022-04-08 . 'Neu' kid on the block: Tata super app live now . 2022-04-08 . The Indian Express . en.
  2. Web site: 2022-04-07 . Tata Neu Launched in India: One Super App To Buy Flight Tickets, Groceries and More . 2022-04-08 . News18 . en.
  3. Web site: 2022-04-07 . Tata group launches super app 'Tata Neu' as it gears up for ecommerce push . 2022-04-08 . Deccan Herald . en.
  4. Web site: From UPI to free IPL matches: India's first super app Tata Neu is buzzing with offers . 2022-04-08 . Business Today . 7 April 2022 . en.
  5. News: All you need to know about Tata super app 'Tata Neu' . The Economic Times . 2022-04-08.
  6. Web site: 2022-04-07 . Tata Group launches all-in-one 'super app' Tata Neu . 2022-04-08 . ThePrint . en-US.
  7. Web site: N Chandrasekaran officially launches super app Tata Neu: All you need to know . 2022-04-08 . Business Today . 7 April 2022 . en.
  8. News: Mishra . Digbijay . Tata Neu clocks $150m gross sales, falls short of first month's target . The Economic Times. 16 June 2022 .
  9. Web site: Laskar . Anirudh . 2021-10-25 . Tata Sons and a $2 billion plan for super app Tata Neu . 2023-01-16 . mint . en.
  10. Web site: Sarkar . Gargi . 2022-06-08 . Tata Neu Fails To Meet Its First Month Internal Target Of $200 Mn In Gross Sales . 2023-01-16 . Inc42 Media . en.
  11. Web site: Mathi . Sarvesh . 2022-04-08 . Tata Neu Review: Tata's super app is a total mess . 2023-01-16 . MediaNama . en-US.
  12. News: Variyar . Mugdha . Reviving the Tata Neu super-app is a super-sized challenge for the group. Here's why. . The Economic Times . 2023-01-16.
  13. Web site: Team . BS Web . 2023-01-03 . Tata Digital's Mukesh Bansal to step away from Tata Neu's daily ops: Report . 2023-01-16 . www.business-standard.com . en.
  14. Web site: Mukesh Bansal steps down from the helm at Tata Neu: Report . 2023-01-16 . Moneycontrol . 3 January 2023 . en.
  15. Web site: Singh . Manish . 2022-02-18 . Indian giant Tata's super app TataNeu is not so super . 2023-01-16 . TechCrunch . en-US.
  16. News: Tatas review super app strategy as sales may miss target by 50% . The Economic Times . 2023-01-16.
  17. Web site: 2023-08-08 . Tata Neu after the revamp: how is it faring? . 2023-08-13 . Moneycontrol . en.

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