Flipkart owned fashion and lifestyle e-tailer Myntra is expected to transform into a ‘mobile-only company’ by May 2015, as around 52 percent of its revenue is currently coming from mobile traffic which was 13 percent this January.
“We will close this financial year ending March 31, 2015 with 75 percent of our revenue coming from mobile. Of this, 60 per cent of mobile traffic will come through our Myntra app and the rest through the mobile web browser,” Prasad Kompalli, Head of Sales & Marketing, Myntra, told BusinessLine.
About 55 percent of new customers visiting Myntra everyday are through mobile devices, and the company is targeting shoppers in Tier-II and -III towns in the 18-27 year age profile.
“While shoppers in Tier-I cities visit Myntra website using laptops, desktops, tablets and smartphones, mobile is the only device available to many of our customers from Tier-II and -III towns, which contribute to 50 per cent of our revenue and is growing at a faster clip,” added Kompalli.
Currently, there are nearly 123 million smartphone users in India and around 205 total Internet users. Affordability of smartphones is leading to the growth in mobile Internet users, hence generating fresh consumer base for the online players. With an online business like Myntra taking a mobile only strategy, it surely speaks volumes about the scope of m-commerce in India as against web based commerce.
Apart from this, Myntra is also looking to set up an office in London to lead its partnerships with brands in UK and Europe and also plans to expand its business operations to New York in about a year. In May, Myntra was acquired by Flipkart but the two continue to work as separate entities. However Flipkart too is pushing its mobile app like Myntra by giving special offers and discounts to users who make purchases using the app.