Myntra Expects 5.5 Million Unique Customers During Holiday Sale This Year
BENGALURU : Myntra, the fashion retailer owned by Flipkart, said it expects 5.5 million unique customers at its major fashion festival October 3-10, almost 40% more than last year .
Of the 5.5 million customers, around 40% are expected from small towns and villages, and 1.1 million would be first-time buyers.
Around 4 million customers purchased 13 million items during the Big Fashion Festival in 2020.
Myntra will offer 1 million styles and 7,000 brands across all categories and said it has increased the number of brands on the platform by 40% from the previous edition.
The Bengaluru-based e-commerce company expects demand for fashion and beauty products to increase significantly, quadrupling from the status quo and 1.6 times over the past holiday season.
This year’s festive sales are proving to be hotly contested.
Along with the Myntra event, Amazon India’s Great Indian Festival and Flipkart’s Big Billion Days sale begins on October 3.
âThe scale of the festive sale this year is going to be the most important for us as fashion continues to perform well as a category,â said Amar Nagaram, CEO of Myntra, in an interview.
âAfter the reverse migration seen in 2020, people are returning to subways, but we have continued to see strong sales in smaller towns as well as increased demand from larger towns,â he said.
As more and more people get vaccinated, people dress and go out again, and fashion purchases are also changing, Nagaram said.
Myntra sees sales growth in ethnic clothing, closed-toe shoes, children’s clothing, watches and jewelry. In addition, beauty and personal care products continue to perform well in the e-commerce market, Nagaram said.
The platform’s technological capabilities are designed to handle 1 million concurrent users and 15,000 orders per minute during peak periods.
RedSeer Consulting predicts that around 55-60% of online shoppers will come from small towns during the holiday season.
While mobile and electronics will also contribute nearly 73% of the gross merchandise value (GMV) of e-commerce sales this year, fashion is expected to contribute 16% of the overall festive GMV.
RedSeer expects sales to increase 23% to $ 9 billion this year, from $ 7.4 billion in GMV of goods sold on e-commerce platforms during the holiday season in 2020.
Growth in mobile and electronics sales will be fueled by platforms offering easier payment terms, including matched monthly payments and offers to buy now, pay later in association with partners, has t -he adds.
Ahead of the holiday season, Myntra also strengthened its supply chain network, with the addition of a distribution center, three parent hubs, 12 satellite hubs and 171 distribution centers to improve capacity. higher storage volumes and optimize last mile deliveries.
A new distribution center near Calcutta, which has been added, measures over 200,000 square feet and can store up to 4.5 million items and will serve as a hub for the eastern region.
Myntra said it has also multiplied its omni-network by more than 2.5 times compared to last holiday season and integrated more than 2,600 stores from 300 brands on its platform to ensure that customers receive their orders at home. as soon as possible.
The company increased its last mile delivery capacity by expanding its Kirana store network by 30%, bringing the number of its Kirana store network to more than 25,000 across the country.
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