Myntra, an online retailer owned by Walmart, has launched a new fashion experience called FWD, aimed at the Gen-Z demographic in India, where 20% of the world’s Gen-Z resides.
The goal is to attract 10 million new Gen-Z customers in the next two years by providing an immersive fashion experience on the platform. A top executive from the company announced this intention.
In 2022, the firm plans to expand its customer base by adding this to the existing 8.6 million Gen-Z customers. Additionally, by the end of the year, Myntra aims to increase the number of styles on FWD to over 100,000.
Nandita Sinha, chief executive officer, Myntra said in a statement –
“Gen-Z is an important cohort that we continue to take a deep interest in. Their individualistic sense of style, diverse points of view, and core values reflect in their unique fashion choices and are steadily impacting the way fashion is being consumed at a global level.”
According to Myntra, India is home to 20% of the world’s Gen-Z population. As of last year, the oldest members of this generation were 25 years old and they possess a combined purchasing power of approximately $360 billion, as per industry sources.
Myntra has introduced new features to attract Gen-Z. They now offer an app-in-app experience with over 65,000 styles to choose from and access to over 500 popular global brands. Here are some of the brands: H&M, Trendyol, Bebe, Tokyo Talkies, Sassafras, Hersheinbox, Street 9, Athena, Bonkers Corner, and Boohoo.
The FWD platform has undergone a complete transformation to cater to Gen-Z users. It includes a Daily Drop Widget that offers daily updates on new fashion styles, along with personalized content and trend recommendations based on the shoppers’ preferences.
The app will feature the best celebrity outfits spotted by Viral Bhayani, a renowned photographer and content creator in Bollywood.
Myntra is improving its ‘photo search’ feature to cater to Gen-Z shoppers. This feature will allow users to take a picture or screenshot of a style they like on social media or in their surroundings and send it directly to the Myntra app. The app will instantly show similar shoppable results from FWD.
Myntra has also tied up with prominent bloggers, influencers, and content creators to reach out to the Gen-Z community through their platforms. The company hopes that this move will help them capture a larger chunk of the fast-growing online shopping market in India. The new platform is expected to be helpful for young shoppers in India, who are looking for the latest fashion trends and styles.
Myntra is confident that FWD will surely help them become a leading platform for Gen-Z customers within two years. With this launch, Myntra aims to bring a revolutionary change in the Indian online shopping landscape by optimizing its offerings for Gen-Z shoppers.
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