In a technology upgradation for its offline stores, Flipkart-owned fashion platform Myntra has launched a new store of Roadster Go. The newly launched store in Bengaluru boasts of 100% RFID (Radio-frequency identification), which also supports 30-seconds check out.
In a media statement, Myntra said that the new Roadster Go store is spread across 3,200 sq ft and enables shoppers to pick up their favourite products without any assistance. The users can discover real time online prices and do a self-checkout in 30 seconds.
Also, the RFID enabled digital screens at the store offer shoppers detailed information about a particular product when held up against it. Further, shoppers can discover product features of studio images including fabric, washes, suitability to body type, color matching, availability of size and more.
(Image: Myntra’s self checkout counter)
The customers can initiate a 30 second self-checkout by placing all the products in the RFID tray which will capture product details and display the bill on the screen. The users can pay using a debit/credit card, upon confirmation.
Amar Nagaram, head, Myntra Jabong, said, “Roadster has shown how fashion and technology, when integrated, create unique experiences that take offline shopping to a new level. As a pioneer in omni-channel fashion, Myntra is committed to strengthening its offline presence through a franchise model and offer new experiences to engage customers and make shopping fast and seamless through technology.”
Myntra launched its first offline store, Roadster Go store in Indira Nagar in 2017. However, the store was later shut down recently because of the property’s building compliance issues. It also launched Roadster store at Mantri mall in Malleshwaram, Bengaluru in 2018. Now with the new Roadster Go store, Myntra has two offline Roadster stores in Bengaluru.
In 2018, Myntra said it will expand its offline presence to 100 stores in the next two years. Also in August 2018, Myntra acquired Mumbai-based end-to-end omnichannel platform for retail Pretr. It was looking to strengthen its footprint in the omnichannel segment.
Myntra had also targeted to close financial year 2019 with a Gross Merchandise Value (GMV) of $1.9 Bn, with the help of private labels and offline expansion. Due to Walmart’s acquisition of Flipkart, in November 2018, Myntra and Jabong fully integrated their functions including technology, marketing, category, revenue, finance, and creative teams. The company had also said that, “Myntra’s independence as a business will be “preserved”. The Jabong brand will also be retained.
In January 2019, a Tofler report also claimed that Myntra witnessed an 80% drop in revenue for the year ended March 2018 as it clocked in revenue of $60.6 Mn (INR 427 Cr). Its losses for the year stood at $21.4 Mn (INR 151 Cr) while its total expenses were recorded at $131.5 Mn (INR 926 Cr).
However, at that time as well, Myntra denied these data points and suggested that the company “continue to grow at a healthy rate with a firm focus on delivering the best of fashion and lifestyle for our customers.” With offline stores and private labels continuing to be a major arsenal for the war in fashion ecommerce, poised to reach $14 Bn by 2020, Myntra’s rapid expansion continues to make it an attractive player.