During the festive season, Myntra, an online fashion retailer under the Walmart umbrella, achieved an all-time high with 60 million monthly active users. Fueled by an expanding customer base, specialized offerings for Generation Z, and a strong collection of international fashion and beauty brands, the platform strengthened its presence in both premium and mass premium segments, outpacing market growth.
Empowered by a technology-driven interface and an extensive selection of 2,300,000 styles, the platform welcomed 75 million new app users in 2023, while its dedicated customer base experienced a remarkable 100 percent year-over-year growth over the past 18 months. The Gen Z fashion category observed an impressive 2.25 times year-over-year increase in demand on the platform, with a substantial 175 percent year-over-year growth in customer numbers within the Gen Z segment.
“We’ve added the highest number of new users and new customers this year, whilst doubling our loyal customer base,” said Sunder Balasubramanian, CMO, Myntra.
Over the past three years, the company’s beauty portfolio has expanded by more than four times, featuring a collection of over 1,500 brands and 90,000 SKUs (stock-keeping units). In the latest quarter, Myntra achieved a substantial 70 percent year-over-year growth in the Direct-to-Consumer (D2C) category.
The platform relies significantly on technology to enhance and customize the shopping experience for users in the realms of fashion and beauty. Myntra Minis, a short-form video content feature modeled after the reels format, has garnered 1 million daily views, underscoring its growing popularity. Additionally, Myntra utilizes AI and other cutting-edge technologies to address challenges related to product discovery on the platform.
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