It seems that adventure has not yet ended for Myntra. After being acquired by Flipkart last year, Myntra has now paved off its route towards Mobile only approach. The company has shut down its web operations and is now “app-only” platform.
When we asked Mukesh Bansal, why it makes sense now, he replied that India ranks second to the US in terms of reach and engagement for shopping apps. With smartphones growing at tremendous rate, we see this percentage increasing.
With users continually logged in to their mobiles unlike desktops, it enables Myntra to identify and provide personalized experience to customers. At present over 90% of their web traffic is generated through mobiles and 70% of the sales happen through this medium. A year ago, the traffic was less than 10% and continues to grow at a high rate. Today, more than 9 Mn people have downloaded the Myntra App and over the next 3 to 4 months Myntra is targeting another 5 Mn downloads.
“Fashion is a very personal experience. We believe that only mobile can truly deliver this experience as it captures user’s lifestyle and context in manner that no other medium does. Think of all the hardware and software features that one can leverage like camera, contact, location etc. to understand the user’s context and deliver the experience that is deeply personalized. Mobile will have massive implications on how the shopping experience will look like in the future,” said Mukesh Bansal, CEO, Myntra & Head of Commerce, Flipkart.
Where some are of the view that Myntra is setting a new trend with this step, others feel that it’s a huge risk considering the prevailing competition in eCommerce and is “too early” for this.