E-commerce platform for fashion and lifestyle products Myntra today announced its transition into a mobile ‘app only’ platform from May 15, marking the end of desktop and browser based shopping.
“Looking at all the data and the trend and the future of internet in India we believe that Myntra now will be able to service all its customers in the best way if our services are available only on through app on mobile phones,” Myntra CEO & Head of Commerce at Flipkart Mukesh Bansal told reporters.
He said, “...we have decided that effective May 15, Myntra services will only be available through app on all smart phones, we will not support other channels...”
Myntra said the rapid expansion of smartphones from 120—140 million in 2014 to 600—700 million in 2020 will provide the base for creation of an inclusive market unprecedented in the history of fashion shopping.
It said mobile apps are taking utilitarian role in users’ life by being the default mode of accessing and consuming internet services, adding that according to a recent study, 90 per cent of smartphone users in India use apps, which is close to 158 million as of today. India stands second only to US in the use of shopping apps.
Stating that more than nine million users have downloaded the Myntra app so far, the company said with the introduction of new features it is targeting the next five million app downloads in 3-4 months with customer engagement increasing multi-fold over the quarter.
“We believe that this is a big moment in the history of Indian internet, it will have a large impact on the way internet will shape up in the future, and I think the whole team at Myntra is actually going into this little bit cautiously nervous, but very optimistic,” Flipkart CEO & Co founder Sachin Bansal said.
The company officials said close to 95 per cent of internet traffic on Myntra comes through mobile devices, and over 70 per cent of sales are via mobile devices.
They said Myntra has been growing at a fast pace and is intended to hit the $1 billion mark in revenues by the year 2016.
Myntra ruled out chances of job cut at the company due to its transition as mobile application based shopping platform.
“We are definitely not letting go any people, we are hiring like crazy. We have lot of stuff that we are doing. The talent we have are not just for web, they are all multi-talented so we are using them on mobile.” Myntra’s Myntra Shamik Sharma said.
Marking the biggest consolidation in the e—commerce space in India, Flipkart had acquired Myntra in an estimated Rs 2,000 crore deal, in May last year.