Myntra expects 5.5M customers to shop during its upcoming Big Fashion Festival
Flipkart Group companysaid it expects about 5.5 million shoppers to participate in its 'Big Fashion Festival' that will be held from October 3-10.
Last week, the company had said about 1.1 million unique first-time customers are expected to participate in the upcoming sale.
"Myntra is expecting about 5.5 million unique customers during its upcoming Big Fashion Festival, with about 1.8X increase in traffic over the previous edition. This edition of the mega fashion event is expected to see a massive uptick in demand at 4X over BAU and 1.6X over the last festive season, with about 40 percent contribution coming from Tier II and III markets," a statement said.
The tech capabilities of the platform are geared to handle one million concurrent users at peak, it added.
Early Access for Myntra Insiders — the loyalty programme for the fashion ecommerce platform — starts on October 1.
"With the festive season upon us, this event will offer a never-before festive shopping experience to shoppers across the country, with the largest selection at sharp value offers. An event of this unprecedented magnitude is also set to provide thrust to our ecosystem, especially the artisans, MSMEs, and our kirana store partners," Myntra CEO Amar Nagaram said.
Ecommerce platforms Amazon and Flipkart have also announced sale events (starting October 3) and are lining up new launches and offers to woo shoppers. Players hold multiple sale events around Dussehra and Diwali.
Ecommerce 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, ecommerce platforms are expected to potentially clock over $9 billion gross GMV during the festive season this year as against $7.4 billion last year, a growth of 23 percent.
During the first week of the festive season, these platforms are expected to register 30 percent year-on-year growth in gross GMV to $4.8 billion. Gross GMV refers to the total value of goods sold on the platform before 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 a steady rebound of fashion and office wear.