One of India’s largest fashion e-retailer Myntra, may soon fade out its web presence and shift all its operations to its mobile app. This abrupt decision comes as a direct result of the surging mobile internet connectivity in the country, which have in turn resulted in Myntra getting most of its customers through mobile. (via TOI)
If statistics are to be considered, Myntra pulls in about 80% of its traffic and 60% of sales through its mobile application and plans to carry this figure to 90% by the end of this year. With a figure as big as this, Myntra’s decision does not sound amateurish. This move would be the first instance of an online e-retailer going mobile-only from web and mobile format.
According to Mukesh Bansal, co-founder of Myntra and CMO of Flipkart, the growth on the mobile platform has been rapid because fashion shopping is quite impulsive. From now onwards, Myntra’s futuristic moves will be highly focussed on rising up its presence in the mobile world.
Shopping for fashion is largely impulse-driven and that’s why the vertical has done so well on the mobile. We are 100% focussed on mobile and making all our investments on the platform going forward.
Myntra, which was acquired by Flipkart last year, is on course to touch INR 2000 crore milestone by the end of this fiscal year. It currently has over 100 sellers on board, selling products from over 650 brands. The fashion retailer faces a cut throat competition from Snapdeal which is about to make $1 billion in sales under the fashion category, with 65% of its overall transactions being done over the mobile.
With mobile internet connectivity surging up at an exponential growth, Indian e-commerce market has witnessed a drastic change. From a scant figure of 5%, mobile based transactions have surpassed 50% of all tranasctions in less than a year.