Tag: Myntra

Mobile Websites or Apps, Shouldn’t the Choice Be Ours?

Fashion e-commerce store, Myntra recently made headlines when it announced that it will be shutting down their website and will be solely an app-based business. Myntra and its parent company, Flipkart have already shut down their mobile websites and are only accessible through their apps. This exclusive app based model raises several questions, most important of which is; why are we being forced to download more apps, has the smartphone consumer base grown strong enough to support the app-only business model?

The switching of Myntra to an app-only business entity might make sense to the e-tailor. The company claims to make 85 percent of all visits from its smartphone app and 63 percent of all purchases on their websites from apps. But this inclination to mobile platform has ceased the freedom from millions of users the choice between a desktop website or a mobile app. It’s not only the case with Myntra, but many other e-commerce giants are forcing customers to switch to their respective mobile applications.

It’s hard not to notice Flipkart, Zomato, Make My Trip and many more, flooding our lives with ads and other such promotional activities, egging us to opt for their app. And when we visit an online website to shop or to book movie tickets, the first thing that appears before us is the advertising of their app. Sometimes, we can’t get away unless we download it.

Yes Zomato, we’re quite happy living in the Browser Age.

These retailers also announce exciting offers after regular intervals which are only applicable to apps and cannot be availed through the website. It’s an unethical force trade practice to make things work in their favour. While it may make things much easier for retailers to handle, it erodes the convenience that a user is entitled to. Everyday, they seem to find innovate ways to bombard consumers with reasons to add an extra widget to their handsets.

One such “subtle” example of an ad:

Big online stores should keep in mind that apps are just an extension to the website, and have an existence as long as they have a presence on the web. The desktop sites add appeal when looking for clothing, footwear, and places, and applications can’t substitute them. When you’re deciding if you should invest in a pair of jeans, not even the massive 5.5-inch of the iPhone 6 Plus replicate the seamless experience of a website.

Although there could be many factors for e-commerce dealers in terms of profit and traffic, the option of selection should not be taken away from the customers. Choosing between a website and an app should be the sole choice of the customer, a practice followed by e-commerce majors globally.

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April 9, 2015
Myntra to Completely Shut Down its Web Division and Become an App-Only Platform

The online fashion retailer Myntra has decided to shut down its website completely. From May 1 this year, the online vendor will become an mobile retailer, limiting itself to the app only. It’s a first by any e-commerce player to slay off its web division to become a mobile only entity.

We earlier reported about Myntra is shutting down its mobile website, now at the end of this month, its website will also shut down.

The reputed publishing daily says that although Myntra officials haven’t commented on the report, they’ve got a trusted insider source who has revealed about the company’s advertising and marketing plans. According to the source, the same will soon be made official by the company.

With the earlier announcement, Myntra officials unfolded their revenue source and stated that almost 80% of the traffic comes from mobile. Sales rate is also high through mobile application, reaching 70% as compared to the desktop platform.

The growing innovation in tech sector is drastically changing the shopping behaviour of buyers. The e-tailer has seen rapid growth rate in just nine months and Flipkart is likely to follow soon. This all indicates the progress in the mobile technology domain and the ability of Indians to adapt quickly.

April 6, 2015
Myntra and Flipkart Adopt App-Only Model, Shut Down Their Mobile Websites

From now customers of two of India’s largest e-commerce websites, Flipkart and Myntra, will not be able to make purchases on the go, unless they decide to download their apps. Both the online retailers have shut down their mobile websites and will be operating only through their mobile application.

From now on, whenever a user visits Flipkart.com or Myntra.com on their smartphones, a page will appear that will request you to download the application.

The move by the Indian retail players is not surprising as they were already pushing people to try their mobile version. Timely discounts had been announced for app shoppers, which has led to a tremendous growth in traffic by the mobile segment. According to the information shared by Myntra, “90% of its traffic is being generated through mobile devices. Close to 85% of this traffic is driven by Android, iOS and Windows platforms.”

India comprises of a large chunk of smartphone users and majority of them are potential customers who wish to make purchases while on the move. With the growing innovation in the tech sector, shopping behaviour of buyers is changing drastically. Myntra started its shopping app in May last year and within a short span of nine months, it has now become an app-only platform for mobile customers.

The Head of eCommerce Platform at Myntra, Prasad Kompalli stated about the company plans:

Myntra will be launching new innovations on the app in the future to make shopping a more seamless and personalised experience. The rate at which Indian consumers are adopting shopping on the app, is faster than even the US and China.

Shutting down the mobile websites is a progressive step. More than anything else, it indicates the dependance of mobile users on applications. But would you want to add an extra app on your dashboard?

March 21, 2015
Myntra Acquires San Francisco-Based FITIQUETTE, Developer Of Virtual Fitting Room Technology

Online fashion and lifestyle products retailer Myntra has acquired San Francisco-based technology platform provider FITIQUETTE for an undisclosed sum.

“This acquisition will strengthen and expand Myntra’s technology platform and drive transformational change in online shopping space in India by providing world-class experience to its customers,” the company said in a statement today.

This is Myntra’s second recent acquisition in the U.S. The first, in November 2012, was of New York-based Exclusively.in, which powers the private label vertical, Sher Singh. In both cases, the financial terms were not disclosed.

The virtual dressing room developed by FITIQUETTE generates a virtual mannequin based on various body types to which users can adjust each specific measurement according to their body until it closely mirrors their own, the company said, adding that the technology enabled online shoppers to virtually ‘try before they buy’.

Mukesh Bansal, CEO & Co-founder, Myntra says “Myntra aims to create the most compelling Fashion Shopping experience for Indian consumers at par or better than global standards. FITIQUETTE has developed pioneering technology for solving the Fit/Size problem online. This acquisition will not only help us improve the experience significantly, but will also enhance our technology team with addition of top tech talent from FITIQUETTE.”

The FITIQUETTE team will be joining Myntra with Andy heading Myntra’s newly formed Innovation Labs in San Francisco.

Andy Pandharikar, CEO & Co-founder, FITIQUETTE says “The Indian e-commerce industry is growing at breakneck speed and it is a great time to be a part of this journey. I am confident that FITIQUETTE’s powerful technology will benefit Myntra’s vision of providing world class solutions to online shoppers across the country.”

[toggle title=”Press Release”]Myntra Acquires San Francisco Based ‘FITIQUETTE’

Myntra, India’s largest e-commerce platform for fashion and lifestyle products, today announced the acquisition of San Francisco based FITIQUETTE (TechCrunch Disrupt Finalist), a technology solution which is a one of a kind virtual fitting room.

FOR IMMEDIATE RELEASE

PRLog (Press Release) – Apr. 5, 2013 – Bangalore, April 5, 2013: Myntra, India’s largest e-commerce platform for fashion and lifestyle products, today announced the acquisition of San Francisco based FITIQUETTE (http://www.fitiquette.com/) (TechCrunch Disrupt Finalist (http://techcrunch.com/2012/09/10/fitiquette-online-clothi…)), a technology solution which is a one of a kind virtual fitting room. FITIQUETTE’s technology innovation aims at solving size and fit issues for online shoppers. This acquisition will strengthen and expand Myntra’s technology platform and drive transformational change in the online shopping space in India by providing world-class experience to its customers. Financial terms of the deal were not disclosed, except to note that the acquisition was part cash, part stock.

FITIQUETTE is the first virtual dressing room of its kind globally. This unique innovation generates a virtual mannequin based on various body types to which users can further adjust each specific measurement according to their body until it closely mirrors their own. This technology enables online shoppers to virtually ‘try before they buy’, providing an online shopping experience which is very similar to the offline model.

With this acquisition, Myntra will have the ability to provide the best virtual solution to solve a perceived barrier of shopping online – finding the right fit and size. This acquisition demonstrates the strength and the rising trend of Indian companies going beyond their boundaries and acquiring international firms.

Mukesh Bansal, CEO & Co-founder, Myntra says “Myntra aims to create the most compelling Fashion Shopping experience for Indian consumers at par or better than global standards. FITIQUETTE has developed pioneering technology for solving the Fit/Size problem online. This acquisition will not only help us improve the experience significantly, but will also enhance our technology team with addition of top tech talent from FITIQUETTE.”

Andy Pandharikar, CEO & Co-founder, FITIQUETTE says “The Indian e-commerce industry is growing at breakneck speed and it is a great time to be a part of this journey. I am confident that FITIQUETTE’s powerful technology will benefit Myntra’s vision of providing world class solutions to online shoppers across the country.”

The FITIQUETTE team will be joining Myntra with Andy heading Myntra’s newly formed Innovation Labs in San Francisco.

This is Myntra’s second acquisition in a short span of four months. In November 2012, Myntra acquired Sher Singh (http://techcrunch.com/2012/11/08/indian-e-commerce-compan…), a global private label online brand specializing in sports-inspired lifestyle apparel for men and women and its New York based parent company Exclusively.in.

About Myntra.com:

Myntra.com is among the leading e-commerce platforms in India for fashion and lifestyle products. Myntra.com has partnered with over 500 leading fashion and lifestyle brands in the country such as Nike, Adidas, Puma, Lee, Levis, Arrow, Biba, FabIndia, Timberland, CAT, US Polo and the likes to offer a wide range in latest branded fashion and lifestyle wear. With the largest in-season product catalogue, 100% authentic products, cash on delivery and 30 day return policy, Myntra.com is today the preferred shopping destination in India.

Headquartered in Bangalore, Myntra was started by a group of IIT/IIM graduates in 2007. The company has been funded by top tier Venture Capital funds like Tiger Global, IndoUS, IDG and Accel Partners.
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April 5, 2013