Niki, Bharat's "full-stack Ramu Kaka" today shared that it has 3 times higher retention rate on the platform compared to the industry standard. Having their lives transformed, customers now rely on Niki for their household needs.
Niki ran an extensive survey (in February 2021) among customers spread across 175 towns of Bharat on the likelihood of them recommending Niki to their family and friends - a way to calculate the Net Promoter Score. The result was an astonishing score of over 75.
The internet economy 1.0 was inherently a western design built on DIY or Do-it-yourself model, which created confusion and distrust amongst the Bharat customers, mostly first time digitally transacting users.
Talking about his far from pleasant experience transacting online and then choosing to adopt Niki, Dinesh, a resident of Phalodi, a small town in Rajasthan says, "I have studied till fourth class and I don't know English, I know only Hindi. I fear that if I press any button on any other app, it will deduct my money. On Niki, I can give my order invoice and I get quality product and service delivered to me."
Niki's Do-It-For-Me Model built with the most advanced proprietary conversational technology lets customers transact via voice commands. It also has a strong supply-side gatekeeping that ensures the quality of goods and services. This is coupled with a digital and human stack that provides end to end proactive assistance to the Bharat customers. Households transacting on Niki have built a formidable habit and are doing 1 transaction per week, spending over Rs 32,000 over a year already.
Sachin Jaiswal, CEO of Niki says, "We frequently receive customer narratives that with Niki, customers don't have any fear and are now able to transact online on their own. Niki is there for them for all major household purchases, akin to a full-stack Ramu Kaka. The trust in Niki is growing tremendously among the customers and it has been their key motivation to stick to the platform and recommend Niki to their family and friends."
With the deep foundation laid on trust, Niki has unlocked Internet Economy 2.0. The company now aims to expand its services in 10 more states and launch 10 new languages capturing 20 per cent of the 150 million market share of Bharat households by 2022.
With the mission statement "Nobody left behind", Niki is ushering Bharat into the internet economy. Niki is Bharat's very own "Full Stack Ramu Kaka'' delivering trust and service to customers. Our voice and local language technology stack coupled with a fintech architecture is built to scale rapidly.
Niki is backed by US-based venture capital firm EMVC, Unilazer Ventures, Ratan Tata, Japan's Recruit Partners and Haresh Chawla among others. Niki is building Internet Economy 2.0 and has served over 550,000 Indian households already with the aim to capture a 20 per cent market of the 150 Million Bharat households by FY 2022.
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( With inputs from ANI )
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