#Myntra #Miscellaneous
Myntra... my favorite shopping destination... They have all big brands and they offer discounts that you won't usually get in shops (due to distributor margin etc. etc.) I always explained my experience of myntra in 1 line... its 'jo bhi chaho, ghar baithe pao...' but now they are changing...
Myntra, which was founded by 3 IITians in 2007, was acquired by Flipkart for Rs. 2000 crore, the first thought that came to my mind was... Flipkart is converting into a crap site, I hope Myntra doesn't too. But little did I knew, they are not just ruining it, instead they are erasing the site from my computer permanently...
As per varied sources, the reason for this move is that 80% of their e-tailer's traffic is through mobile apps which account for 60-70% of their revenue. And they aim to make 90% of sales this year by app only.
The above statement really makes me wonder 2 things...
- If they go app only, then of course their 90% sales will be from the app (whether it is as per their target or not, can't comment). How could people access website if they are taking it down? They have to buy from app now!
- Statistically yes, India is gaining to be at 2nd position for smartphone users (after China obviously) but there are still so many people who buy online. Daily more and more people are exposed to online shopping, I wonder, are they not missing on these potential customers?
According to Mukesh Bansal, co-founder of Myntra and CMO of Flipkart, fashion shopping is quite impulsive and it has resulted in growth on the mobile platform. Hence Myntra is focussed on the mobile platform and will be making major investments on this.
Is he deliberately missing on an important aspect? Maximum population of India is middle class and they think more than twice before spending the hard-earned money. The shopping might look impulsive, but it's simply because of the easy 30 days return policy. Even shipping is refunded... Had this been an issue with myntra, consumers won't be that impulsive and will buy carefully. Yes there are consumers who are impulsive but do they really fit in Myntra's consumer profile, I doubt that.
2 days ago they have sent mass email informing their customers regarding the move. The message said... "We believe fashion is a very personal experience. Your sense of style, the brands you wear, the trends you choose to follow are unique to you. What inspires you to look good changes and evolves every day. The best fashion experience is truly personalised and engaging one that is only possible through the device that is closest to you. A device that understands you -- your mobile".
Yes they are right, fashion is a very personal experience hence before I buy anything I like to check it properly on a big screen. I personally own a Iphone 6+ and although the screen of this phone is giant, I never select my clothes on it. And yes they give additional discounts on the app, but I still select my clothes on my laptop, and if time permits I order using app availing discounts ;) . Hey, don't judge me, I don't mind spending money but I feel obliged as a consumer to avail discounts, you see, if we won't avail them, then who will... anyways I am not alone in this, I know so many other people who do this as well...
Well jokes apart, myntra is starting up a new trend. It is going to first big e-tailer who will go app only. I can't help but wonder if this is successful, will other big online websites like Snapdeal etc. follow suit? And if it's not, will they move back to website... well lets see how this progresses.
Till then
Take Care
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