Flipkart’s Big Billion Day offer could drive up Myntra’s sales up to 5 times
Bengaluru: Flipkart-owned online fashion retailer Myntra expects to record a five-fold increase in sales during the upcoming Big Billion Day (BBD) sale as it gears up alongside Flipkart to fend off arch-rival Amazon in the crucial, fast-growing fashion segment during the upcoming festive season. The sale is slated for 2-6 October.
Myntra, which plans to offer discounts of up to 70% during the BBD sale, said it will launch a new feature for customers that will allow them “to compare prices of products during the sale, with that of its original price tag, post sale”.
“Myntra is geared up to be a part of this season’s BBD with Flipkart. Our goal is to continue to delight customers while maintaining the current NPS (net promoter score) which is among the highest in the industry, even during the sale. We have put in place several innovative features to enhance customer experience and have augmented our logistical capabilities to manage approximately two lakh deliveries per day,” said Myntra chief executive Ananth Narayanan in a statement.
Bengaluru-based Myntra currently boasts of private labels such as Roadster, HRX, Dressberry and Anouk and exclusive partnerships with Alcott, Forever 21, Marks & Spencer and French Connection among others.
This is the third and arguably the most crucial edition of the BBD sale for Flipkart, which is locked in a fierce market share battle with Amazon India.
Amazon India and Snapdeal are also planning to hold their own flagship sales events during the same period in what is set to be the biggest showdown ever in the history of Indian e-commerce.
The stakes have, arguably, never been higher for Flipkart, which owns fashion retailers Myntra and Jabong. This Diwali could prove to be a make or break quarter for Indian e-commerce sector’s poster boy. If Flipkart has a successful sale, it may get the platform to keep improving its results and raise a fresh round of funds. If Amazon comes out as a big winner, then it may force a shakeout in the e-commerce business.