After raising a $50 Mn funding round led by Premji Invest, Myntra is soon going to follow the Flipkart way, i.e. Myntra is now going to be a marketplace, says reports. The online retailer, will allow local stores and boutiques to sell their products on it, which it plans to launch by April. The new model of the company is aimed at earning profits and expanding its reach in India’s smaller towns and cities.
“We would like to make a serious effort towards this (marketplace) direction,” said Ashutosh Lawania, co-founder of Myntra
The company expects to have about 500 vendors on the platform, but along-with this it plans to sell premium and private label brands through the inventory model.
A few other existing marketplaces in India include – Flipkart, Snapdeal, eBay, Shopclues etc.
Online marketplace, ShopClues.com has recently launched the ‘Express Checkout’ feature to help customers to place orders in just 2 clicks, which the company claims will save up to 80% of the total transaction time.The feature picks up stored information like the customer’s preferred shipment address, preferred payment type , available Clues Bucks (reward points) and applicable Coupon Codes (Discount Codes) which can be disabled by the customers. As per the company, the feature will be very much useful for the people who shop via mobile devices.
Sanjay Sethi, CEO & Co-Founder, ShopClues said “We want our customers to get the best online shopping experience, with minimum transaction time and with maximum security. Customers who access the Internet through mobile devices for online shopping, will find it especially useful since Express Checkout requires very little tying of information. With this feature, users will now be able to shop in 1/4th of the time taken earlier.”