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Myntra expects 5.5 million customers to shop during upcoming Big Fashion Festival

"Myntra is expecting about 5.5 million unique customers during its upcoming Big Fashion Festival, with about 1.8X increase in traffic over the previous edition. This edition of the mega fashion event is expected to see a massive uptick in demand, at 4X over BAU and 1.6X over the last festive season, with about 40 per cent contribution coming from tier II-III markets," a statement said.

September 29, 2021 / 08:19 AM IST
Myntra | PC-Shutterstock

Myntra | PC-Shutterstock

Flipkart group company Myntra on Tuesday said it expects about 5.5 million shoppers to participate in its "Big Fashion Festival" that will be held from October 3-10.

Last week, the company had said about 1.1 million unique first-time customers are expected to participate in the upcoming sale.

"Myntra is expecting about 5.5 million unique customers during its upcoming Big Fashion Festival, with about 1.8X increase in traffic over the previous edition. This edition of the mega fashion event is expected to see a massive uptick in demand, at 4X over BAU and 1.6X over the last festive season, with about 40 per cent contribution coming from tier II-III markets," a statement said.

The tech capabilities of the platform are geared to handle one million concurrent users at peak, it added.

Early Access for Myntra Insiders - the loyalty programme for the fashion e-commerce platform - starts on October 1.

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"With the festive season upon us, this event will offer a never-before festive shopping experience to shoppers across the country, with the largest selection at sharp value offers. An event of this unprecedented magnitude is also set to provide thrust to our ecosystem, especially the artisans, MSMEs, and our Kirana store partners," Myntra CEO Amar Nagaram said.

E-commerce platforms Amazon and Flipkart have also announced sale events (starting October 3) and are lining up new launches and offers to woo shoppers. Players hold multiple sale events around Dussehra and Diwali.

E-commerce companies see a large chunk of their business coming in during the festive sales and they make significant investments ahead of time to ramp up their capacity and add features to be able to handle the spike in orders while ensuring a smooth experience for shoppers and sellers.

According to consulting firm RedSeer, e-commerce platforms are expected to potentially clock over USD 9 billion gross GMV (gross merchandise value) during the festive season this year as against USD 7.4 billion last year, a growth of 23 per cent.

During the first week of the festive season, these platforms are expected to register 30 per cent year-on-year growth in gross GMV to USD 4.8 billion. Gross GMV refers to the total value of goods sold on the platform before subtracting cancellation or return.

The report highlighted that in terms of categories, fashion is expected to see a steady recovery this festive season - in line with greater outdoor mobility of consumers and a steady rebound of fashion/office wear.
PTI
first published: Sep 29, 2021 08:20 am

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