 "Myntra")
Walmart-owned online fashion retailer Myntra registered a record high of 60 million monthly active users this festive season. Driven by a growing customer base, with differentiated offerings for Gen Z, and a robust portfolio of international fashion and beauty brands, the platform solidified its position in the premium and mass premium segments, growing faster than the market.
Backed by a tech-led experience and a choice of 2,300,000 styles, the platform recorded 75 million new app users in 2023, with its loyal customer base growing by 100 per cent year-over-year in the last 18 months. The Gen Z fashion segment has recorded a 2.25X Y-o-Y surge in demand on the platform. The Gen Z segment has witnessed a 175 per cent Y-o-Y growth in customers.
“We’ve added the highest number of new users and new customers this year, whilst doubling our loyal customer base,” said Sunder Balasubramanian, CMO, Myntra.
The firm’s beauty portfolio has also grown by over 4X in the last 3 years and comprises over 1,500 brands and 90,000 SKUs (stock-keeping units). The last quarter has seen Myntra record a 70 per cent Y-o-Y growth in the Direct-to-Consumer (D2C) category.
Technology plays a crucial role in helping the platform streamline and personalise the shopping experience for consumers across fashion and beauty. Myntra Minis, a short-form video content offering based on the reels format, has witnessed 1 million daily views, highlighting the increasing popularity of this feature. Myntra also leverages AI and other emerging technologies to solve for product discovery on the platform.
