Myntra onboards 1.5M new customers during festive sale
Myntra closed its festive season sale with 627 million customer visits, strong traction for its Gen Z focused arm, and a preference for credit card payments.
Fashion marketplace Myntra registered 627 million customer visits for its flagship festive fashion event, the Big Fashion Festival (BFF).
During the sale event, it onboarded 1.5 million new customers, with over 80% of them coming from non-metros, it said in a note. The platform witnessed a monthly active user (MAU) count of 70 million users, along with 100% year-on-year (YoY) growth in orders per minute at peak.
The festive fashion event also witnessed 2.5X growth in new customers over business as usual (BAU) for its dedicated Gen-Z fashion vertical, FWD. The demand doubled over BAU, driven by men’s GenZ fashion, which registered a ~3.4X growth over BAU. About 100 D2C brands associated with its Myntra Rising Star programme posted 100% YoY growth during the year’s BFF.
Beauty and personal care, watches and wearables, and home furnishings experienced a 1.5X demand increase over the last BFF event. The D2C beauty and personal care segment, launched before the festive season, showed strong traction and managed to clock 110% growth over BAU.
The platform also flagged changing consumer preferences, highlighting credit cards as a preferred payment option. BFF witnessed 9X growth in credit card payments over BAU, while its co-branded credit card with Kotak Mahindra Bank recorded 8X growth in transactions on the opening day, over last year. The Flipkart-owned marketplace also observed 4.5X growth for its EMI instruments over normal business.
(The story has been updated to reflect updated customer visit figures from the company.)
Edited by Kanishk Singh