Myntra, the approach to life e-commerce platform backed by Flipkart, has begun piloting a two-hour supply service known as M-Now in choose areas of Bengaluru, PTI reported.
File photograph of Myntra emblem.(Image courtesy: Twitter)
Based on the report, the initiative, which is at present restricted to a couple pin codes, goals to check the feasibility of ultra-fast deliveries within the trend and way of life phase.
The pilot presents a curated collection of merchandise to gauge buyer response and operational effectivity. Based mostly on insights gathered throughout this part, the service could possibly be expanded to further places.
A Myntra spokesperson confirmed the event, explaining that that they had launched M-Specific to enhance buyer expertise with deliveries inside 24-48 hours, the report added.
Now, they’re testing a fair quicker supply service in particular pin codes and can consider the potential for increasing it additional base
The corporate’s earlier initiative, M-Specific, was rolled out in 2022 throughout metro cities to offer expedited supply inside 24-48 hours.
With M-Now, Myntra steps into the rising fast commerce house, which is more and more venturing into magnificence and trend classes.
Boasting a powerful consumer base, Myntra has about 40 million annual transacting prospects. The corporate’s income from operations reportedly elevated by 25 per cent from ₹3,501 crore in FY22 to ₹4,375 crore in FY23.
Myntra’s GenZ buyer base doubles
Lately, Myntra doubled its GenZ buyer base to 16 million in 2024 from over 8 million in mid-2023.
The expansion was led by Myntra’s GenZ trend vertical FWD — an app-in-app providing, it stated.
“With the online trend-first fashion market expected to grow over 8x into a USD 5 billion market by 2028, FWD by Myntra is…taking charge in reshaping fashion for young India, reflecting Myntra’s commitment to staying ahead of GenZ’s rapidly evolving trends and preferences,” an organization assertion stated.
Flipkart-owned Myntra seems ahead to including one other 20-25 million GenZ, born throughout the late Nineteen Nineties and early 2000s, prospects within the subsequent couple of years, it added.
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