Home / News / India /  Myntra’s upcoming sale to gauge consumer sentiment amid covid-19 crisis

BENGALURU: As fashion e-tailer, Myntra gears up for its ‘End Of Reason Sale’ this week, the first big sale event by an e-commerce firm in 2020, it will be a litmus test to gauge consumer sentiment as the covid-19 crisis has impacted overall discretionary spends.

Flipkart-owned Myntra is expecting 3 million shoppers to use the online platform, and can process 20,000 orders per minute at peak, during the four-day sale, starting 19 June. The last edition of its biannual sale, in December, witnessed 2.85 million customers placing 4.2 million orders for 9.6 million items.

The e-commerce firm will also reach 27,000 pin codes, compared to 23,000 earlier. Around 15,000 kirana partners will cater to 75% of the overall deliveries spanning to about 300 cities.

“What we have gone through is an unprecedented crisis. The nature of consumer buying has changed and businesses need to adapt fast. We expect a lot of demand to come in from tier 2 and 3 cities and beyond. Fashion essentials, for example, was not the focus of our platform earlier but now leisure, comfort and fitness wear and kidswear has seen big demand in the post-covid days. This could be a prolonged behavioural change or could be a temporary thing," said Myntra chief executive officer (CEO) Amar Nagaram.

The startup expects smaller cities to contribute upwards of 40% during the sale period.

E-commerce firms such as Myntra resumed business in early May, after the government had banned sale of non-essential products including apparel during the nationwide lockdown.

Nagaram said there is significant pent-up demand on the consumer side as well as keenness on the brands’ side to return to business.

“There are certain categories such as occasion-based fashion which has taken a hit but that is compensated by other categories. Masks have also become a part of our lifestyle and there is a lot of demand for masks for kids," he said.

The Myntra sale is usually one of the big e-commerce events along with Flipkart’s ‘Big Billion Days’ and Amazon’s ‘Great Indian Festival’. For both Flipkart and Amazon, the sale periods last year were led by higher demand from smaller cities as well as categories such as smartphones and fashion.

This year, as the pandemic-led lockdown and significant economic impact, besides job layoffs continue to create an environment of uncertainty, it remains to be seen how consumers react to Myntra’s sale.

“In the fashion segment, there is clear demand in spending on fashion essentials, while premium categories may slow down. Brands are also figuring out the value for money they could offer," Nagaram said.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
Get alerts on WhatsApp
My ReadsRedeem a Gift CardLogout