At the time when fashion era is at its peak and has already crossed billion dollar mark, Myntra is planning to shutdown its web presence. Company is planning to concentrate only on mobile presence because it is the major source of traffic. It this happens, it will be the first kind of mobile only e-commerce player.
Myntra gets around 80% of the traffic and 60% sales from mobile devices. Company is planning to expand mobile reach to cross 90% traffic from mobile device by the end of the year. If company successfully achieved this target, it can easily get rid of web presence. Myntra is also planning to make heavy investment in mobile platform to make it better.
Almost all kind of online business see mobile traffic as major traffic source. But for fashion market, it is more important. Most of the online retailers accept that mobile traffic is more important for them. And if we look at Myntra’s stats, it is clear why it wants to shutdown mobile operations.
Flipkart and Myntra is expecting to close around $1 billion in sales for the current financial year in fashion segment. So, we can assume the importance of this for the company. Myntra along is on course to complete Rs 2,000 crore in sales or gross merchandise value (GMV) for the current financial year with the rate of Rs. 300 crore sales monthly and this is increasing. Its biggest two rivals Snapdeal and Amazon are also growing but Myntra is still the leading choice of people in India.
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