In just over a year, led by FWD (Myntra’s app-in-app), Myntra has nearly doubled its GenZ customer base, growing from over 8 million in mid-2023 to 16 million in 2024. The company plans to add another 20-25mn GenZ customers in the next couple of years.
The GenZ cohort represents one-third of India’s e-lifestyle shoppers and influences 25 percent of the overall GMV in e-lifestyle fashion. The online trend-first fashion market is expected to grow over 8X into a $5 billion market by 2028.
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.”
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). 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.
Among the new initiates to propel further in the GenZ space, Myntra has launched The Ultimate Glam Clan- a 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, stated the company.
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.
Read More: Ahead of festive season, Myntra expands ‘gifting’ category with over 70,000 options