Walmart-owned Flipkart has become the latest e-commerce player to roll out dedicated offerings for Gen Z shoppers. Its new app-in-app feature Spoyl will showcase over 40,000 products across categories like western wear, accessories and footwear.
Flipkart’s focus on Gen Z shoppers comes shortly after Myntra, also owned by Walmart, launched FWD, which is aimed at people born between 1997 and 2012, often referred to as Gen Z. Even Meesho unveiled a new logo to appeal to a wider base earlier this year.
“This is a generation that sets out to break stereotypes on a daily basis, without judgment. We believe that every person deserves to feel empowered and stylish, and this new launch aims to deliver just that,” Sandeep Karwa, Vice President-Flipkart Fashion, said on August 17.
The focus on the category is not a surprise, as these are the people who spend a considerable time on the internet and have a higher disposable income.
One in three online shoppers is Gen Z and they mostly purchase fashion as the first category online, at entry price points, according to a report by Bain & Co. Similarly, in a recent report McKinsey said Gen Z wants to stand out rather than fit in because of which their styles are ever-changing.
"By using technology that helps us stay ahead of the curve, we will ensure that every single Gen Z shopper has access to choices that suit them best," Karwa said.
Over 25 percent of Flipkart Fashion’s customer base comprises Gen Z and there is untapped potential in this segment, the company said in a release.
Fashion e-commerce market share
Flipkart Fashion is the largest player in the online fashion industry with a 27 percent market share, followed by Myntra, which accounts for 22 percent of the market. Amazon Fashion and Meesho each have a market share of about 15 percent. Reliance's Ajio, Nykaa Fashion and others make up the remaining share.
Known to be the internet-first generation, Gen Z and is greatly influenced by a variety of factors when it comes to its fashion choices — global trends, OTT content, favourite international pop stars and pop culture events, the release said.
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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