Myntra's Explosive Festive Growth: 60 mn monthly users, 100% YoY growth
This festive season marked an extraordinary surge for Myntra, India's premier fashion, beauty, and lifestyle platform, with a remarkable increase of almost 60 million monthly active users. The platform witnessed an influx of 75 million new app users in 2023, contributing to a phenomenal 100 per cent year-on-year growth in its customer base over the last 18 months.
Introducing innovative features to enhance customer experience, Myntra unveiled FWD—an app-within-an-app proposition tailored for its dynamic Gen Z audience. During the festive period, the demand for this cutting-edge fashion segment soared by 2.25 times year-on-year, accompanied by an impressive 175% year-on-year growth in the customer base. The Myntra FWD app, boasting a curated selection of 90,000 different styles, stands out with its 'spot it, get it' format, promising a personalized shopping experience for users.
In Direct-to-Consumer (D2C), Myntra witnessed almost 70 per cent year-on-year growth during the quarter. Leading brands on the platform achieved 100 per cent growth, solidifying Myntra's position as a pivotal player in the e-commerce landscape. Embracing the digital age, Myntra introduced Myntra Mini, a short-form video content platform that garnered an impressive one million daily views during the festive season. This initiative underscores Myntra's commitment to its digitally native user base.
Notably, Myntra incorporated the ChatGPT feature into its platform to elevate the experience around new product launches. Additionally, the integration of cutting-edge AI-led features, including Maya and MyStylist, demonstrates Myntra's commitment to staying at the forefront of technological innovation within the fashion and lifestyle space.
