Making a slew of announcements during Ola
Electric’s annual event ‘Sankalp’, Ola Cabs CEO and founder Bhavish Aggarwal announced the rebranding of Ola Cabs to Ola Consumer.
In its new avatar, Ola Consumer will offer a host of consumer services to make ecommerce more accessible, affordable and efficient, according to Aggarwal.
In his address, Aggarwal said that the company will address multiple consumer issues via Ola Consumer. Firstly, he announced the relaunch of ride sharing service Ola Share. The service, which allows users to get cheaper rides by sharing them with others, will go live in Bengaluru today and will be scaled gradually.
The company has also launched a loyalty programme, Ola Coin, in Bengaluru. Under this programme, users transacting on Ola platform will get personalised loyalty benefits which can be redeemed on Ola.
To eliminate high intermediary costs, the company is looking to double down on its partnership with ONDC. “ONDC is the UPI moment for ecommerce in India. Ola is an early partner of ONDC and we will aim to scale ONDC across India,” Aggarwal said.
Meanwhile, the company also launched a credit platform, Ola Credit, today. Under this, Ola users can get access to low cost loans, Aggarwal said.
Aggarwal said Ola Consumer will also intensify its efforts to electrify last-mile logistics to bring down logistics costs by about 50%.
Besides, with an aim to aid in brand discovery on Ola Consumer, the founder announced the launch of an AI shopping copilot to personalise shopping experience. The copilot is live on the Ola app as of now.
