Bengaluru, 17 September 2024: Myntra is making bold moves to capture the burgeoning trend first GenZ fashion market with its dedicated app-in-app, FWD. In just over a year, led by FWD, Myntra has nearly doubled its GenZ customer base, growing from over 8 million in mid-2023 to an impressive 16 million in 2024, emerging as the go-to destination for GenZ fashion. The company plans to add another 20-25mn GenZ customers in the next couple of years.
The GenZ cohort today represents one-third of India’s e-lifestyle shoppers and influences 25% of the overall GMV in e-lifestyle fashion*. With the online trend-first fashion market expected to grow over 8X into a $5 billion market by 2028*, FWD by Myntra is seizing the moment and taking charge in reshaping fashion for young India, reflecting Myntra’s commitment to staying ahead of GenZ’s rapidly evolving trends and preferences.
Speaking on the milestone, Sunder Balasubramanian, Chief Marketing Officer, Myntra, said, “Myntra has been at the forefront of redefining fashion possibilities and offering customers what they most seek to express themselves through fashion. And we are now embracing the undeniable influence of GenZ on the fashion industry by reimagining our fashion shopping experience to align with their values and expectations. Led by FWD, we aim to master the essentials of trend, tailor-made shopping experience and value. We plan to double our customer growth and penetrate deeper into the market, by leveraging cutting-edge technology to enhance every touchpoint from selection to discovery to delivery.”
Further strengthening its appeal, FWD by Myntra showcases on-trend, thought-through selections to personalized size and fit recommendations, every detail is crafted for a wholesome experience. Post-purchase, features like Style Exchange, hassle-free returns, and responsive customer support has made FWD by Myntra a go-to GenZ destination in India’s e-lifestyle market.
Strategically positioned to meet the dynamic, trend-conscious preferences of GenZ, FWD by Myntra offers an extensive range of trend-first styles at pocket-friendly prices. With over 75,000 on-trend styles and 2,500 new drops weekly, it has established itself as a key player in the GenZ fashion scene. FWD’s average selling price of ₹500-650 further enhances its appeal to the GenZ shoppers.
Additionally, tech advancements are at the core of FWD’s strategy, with features like Spot it- Get it, MyFashionGPT, and Myntra Minis (Myntra’s short video platform) contributing to enhancing the shopping experience. Nearly 25k micro and nano influencers with whom the cohort resonates are also on board. Recognizing GenZ’s preference for mobile web browsing over downloading new apps, the company has also rolled out its Mweb platform for FWD, providing a seamless and complementary alternative to the mobile app.
Among the new initiates to propel further in the GenZ space, Myntra has launched The Ultimate Glam Clan- India’s largest shopper-led creator program in the e-lifestyle space. This program focuses on creating an engaging experience that celebrates GenZ’s creative spirit, enabling customers at large to step into the role of creators, earning rewards while expressing their love for fashion.
With a clear focus on trends, elevated shopping experience and value for customers, Myntra is focused on engaging the 60 million GenZ e-lifestyle shoppers further, with strategies designed to double its penetration in this segment in the next couple of years. With a strategic emphasis on both metro and tier-2 cities and leveraging its deep market understanding and established credibility, FWD is poised to become a dominant force in the GenZ fashion space.