Latest News | Myntra to Host 'Big Fashion Festival' from Oct 3-10; Expects 1.1 Mn First-time Shoppers
Get latest articles and stories on Latest News at LatestLY. Flipkart group company Myntra on Friday said it expects about 1.1 million first-time shoppers to participate in its 'Big Fashion Festival' that will be held from October 3-10.
New Delhi, Sep 24 (PTI) Flipkart group company Myntra on Friday said it expects about 1.1 million first-time shoppers to participate in its 'Big Fashion Festival' that will be held from October 3-10.
E-commerce platforms like Amazon and Flipkart have also announced sale events and are lining up new launches and offers to woo shoppers. Players hold multiple sale events, timed around Dussehra and Diwali.
Flipkart will host its annual 'The Big Billion Days' sale from October 7-12 this year, while Amazon's Great Indian Festival will be a month-long event.
Myntra said the upcoming edition of Big Fashion Festival will offer selection from about 7,000 brands, offering the largest-ever collection of about 10 lakh styles.
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"Myntra expects over 1.1 million first-time shoppers to shop for their festive needs during the event. This time, more brands than ever before, offer the best of popular domestic and international brands including Mango, H&M, PUMA, Marks & Spencer, along with a focus on regional festive ensembles," it added.
Last year, over 14 million shoppers had visited the platform on day 1 of Myntra's Big Fashion Festival.
Myntra said it will offer early access to 'Myntra Insiders' (loyalty programme members) on October 1 and 2.
“The upcoming edition of the Big Fashion Festival, is slated to be a never-before festive shopping experience to shoppers across the country, with the largest selection at best value offers. There are many new brands across categories and have put up the best edition of the marquee event, which is the most awaited and sought-after by both shoppers and brands alike," Myntra CEO Amar Nagaram said.
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 prior to 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 steady rebound of fashion/office wear. PTI SR
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)