With the beginning of festive season, retailers are trying various means to land consumers into their stores and the competition is slowly getting on to the e-commerce world. In an initiative to tap the opportunity provided online trade site Myntra.com has launched gift cards facility on the website.
The company, which expects a 100% jump in traffic of people visiting the site during the festive season. Myntra, on an average has unique visitors of 500,000, and sees around 8,000 transactions a day.
“Festivals are part of Indian culture and we want to make our customers satisfied during this season. Gifting goodies to loved ones is an emotional feeling in the country. With this new programme, we want to make it simple for users,” said Ganesh Subramanian, Chief Merchandising Officer, Myntra.com.
The e-commerce site had launched this from the beginning of October and is planning to make it available for one year. The company said, over some time it wants the revenue share from gift card to be in the range 5-10% of the overall revenues.
“We have done it silently and are not giving any marketing push. The gift card scheme is promoted through our users,” he said.
According to the company, within two days of the launch it has seen a transaction of around Rs 1 lakh worth of gifting cards. Apart from this, the company is also planning to launch a gifting scheme through which gifts will be delivered gift-wrapped.
Myntra has also have a strong referral scheme by which a person can refer their friends and relatives and for every successful referral, it offers discount coupons to the existing customers.
The company, founded in 2007, has received funding from VCs like Accel Partners, Tiger Global, IDG Ventures and IndoUS Venture Partners.