Myntra may shut its web portal
Mynta is pioneer in online fashion sales. It had a great ride after getting acquired by Flipkart. Then reaching the billion dollar mark and attracting hordes of investors. No online portal matches the great Myntra in any fields. They have been in the news for all the good reasons and they continue to be. It has been rumoured that they are shutting their desktop site. This move can only be justified by eye popping growth of mobiles in the country. India has a population of 915 million mobile users. In no time we will outnumber the internet population of US.
It was found that Myntra's 80% users were connecting from their mobile applications. They were responsible for 60% of sales generated. Those are actually big figures. Their aim was to take that to 90% and then stop the web portal. Facebook also had some similar growth due to its mobile application. Facebook analysed that on a particular day 48% users used their mobiles to connect with their friends. Mobile ads contributed to 49% of companys advertising revenue. If calculated that amounted to 890 million in third quarter earnings from app install ads and engagement ads. Mobile was a big elephant and Facebook perfectly tapped into that at right time.
There were similar stories and facts about many ecommerce ccompanies. Mobile is the future. It will still be because many people still dont have a smartphone.
Snapdeal also scored the billion dollar mark with 65% of its business done over the mobile.
Mukesh Bansal founder of Myntra said the mobile growth is enormous for all ecommerce players. He did not confirm any news of its web portal shutting down. He added that they are 100 % focused on mobile and diverting more hard work towards the medium.