 "Myntra")
Walmart-owned online retailer Myntra has come up with FWD, an immersive fashion experience for Gen-Z, on its platform. The aim is to tap the demographic cohort succeeding Millennials and drive the acquisition of 10 million new Gen-Z customers in the next two years, said a top company executive. The firm would add this to the 8.6 million Gen-Z customer base in 2022. Myntra will also look at scaling the offering to over 100,000 styles on FWD by the end of the year.
"Gen-Z is an important cohort that we continue to take a deep interest in," said Nandita Sinha, chief executive officer, Myntra. "Their individualistic sense of style, diverse points of view and core values reflect in their unique fashion choices and is steadily impacting the way fashion is being consumed at a global level."
Myntra said 20 per cent of the world's Gen-Z live in India. With the oldest of the generation turning 25 last year, the group has come of age with a purchasing power of about $360 billion, according to industry sources.
As part of the new offering to tap Gen-Z, Myntra has rolled out a series of features, delivering an app-in-app experience. This includes an assortment of over 65,000 styles and access to a mix of over 500 popular brands from across the globe. Some of these brands include H&M, Trendyol, bebe, Tokyo Talkies, Sassafras, Hersheinbox, Street 9, Athena, Bonkers Corner, and Boohoo.
The FWD experience has been completely reimagined, with a focus on Gen-Z users. For instance, the platform will feature a Daily Drop Widget, providing daily intel on fresh styles as well as an automated flow of content and trends personalised to the shoppers' tastes and preferences. It will bring ace Bollywood photographer, and content creator Viral Bhayani's stream of the best-spotted celeb looks to the app.
Myntra's tech-enabled 'photo search' feature is being further elevated with Gen-Z shoppers in mind. It would soon let users take a picture or screenshot of a style they spot around them or on social media and directly forward it to the Myntra app, which will instantly show similar shoppable results from FWD.
To create relatable content for Gen-Z consumers, Myntra FWD will work with a team of over 500 of popular creators, like Radhika Seth, Sanket Mehta, Aditi Bhatia, and Manav Chhabra. The platform will also introduce the Myntra FWD Fam, a team of innovative creators.
Additionally, Myntra said brands and sellers can enhance their overall offerings. For instance, the company's style exchange' enables customers to exchange for style or product and not just size. Myntra's M-Express is another innovation that enables customers to receive their orders at their doorstep in under two hours.
