Myntra has seen its Gen Z gross merchandise value grow by more than 2x over the past year
Recognising that many Gen Z shoppers use social media for purchases, Myntra is also developing an M-Web platform for FWD, which will be capable of navigating seamless shopping experiences through social platforms
The ecommerce platform is expanding its partnerships with a range of brands (global, D2C, local, and private labels) to solidify its armoury of offerings
With discretionary spending on the rise in India, it is Gen Z (born between 1997 and 2012) that major international and domestic fashion brands are chasing right now. Having grown up in the internet and social media era, this generation is incredibly trend-savvy and highly aware of global and local fashion trends.“Now, the company expects to add 25 Mn more Gen Z users to its platform over the next two years,” Sunder Balasubramanian, the chief marketing officer of Myntra, said.
In India, Gen Z is already shaping the fashion industry in a big way, as it accounts for 20-25% of the online lifestyle market, which has an estimated gross merchandise value of $4 Bn.