Myntra crosses 75M new users in 2023; Gen Z and beauty segment show demand growth
Myntra’s Gen Z-focused vertical FWD—launched earlier this year—grew 175% YoY growth in customer base over the year, boosting discoverability and access to global trends.
Flipkart-owned online fashion portal registered a total of 75 million new users in 2023, a 100% YoY in the last 18 months. In the festive season, Myntra crossed a record high of 60 million monthly active users, driven by growth in the platform’s Gen Z vertical and international fashion and beauty brands, it said in a statement on Wednesday.
Myntra launched an in-app Gen Z-focused fashion segment called FWD in May to offer over 65,000 styles from more than 50 brands to new-age audiences. The vertical recorded a 2.25X YoY surge in demand on the platform.
FWD has managed to offer a personalised experience to users in a ‘spot it, get it’ format, solving for inspiration, discoverability, and access to the latest global trends with its tech-led proposition, the statement read.
Myntra’s beauty portfolio—comprising over 1,500 brands and more than 90,000 SKUs—grew by over 4X in the last three years. Meanwhile, the last quarter saw a 70% YoY growth in the direct-to-consumer category.
“Acting as a catalyst for leading brands, some of which registered growth rates over 100%, this trend underlines the platform's pivotal role and commitment to driving the success of partner brands,” Myntra said.
In June, Myntra launched a short video platform Minis aimed at boosting user engagement and improving the overall shopping experience for customers. The 'reels' format has witnessed an astounding one million daily views, it said.
The company added that it leverages AI and other emerging technologies to solve product discovery on the platform. It also claims to be among the first globally to leverage ChatGPT and launch a feature to enhance product discovery with MyFashionGPT and introduce AI-led features, including Maya and MyStylist.
“We’ve had a phenomenal year and are proud of the efforts put in by the teams along with brands. It’s been heartening to see how multifaceted our growth has been. We’ve added the highest number of new users and new customers this year while doubling our loyal customer base. In our commitment to provide a delightful shopping experience to customers, we continue to make several strides and achieve major milestones,” Sunder Balasubramanian, CMO at Myntra, said.
Edited by Suman Singh
